Tata Motors Total Sales Decline YoY, Electric Cars Give Firm A Boost
Tata Motors sold 74,973 vehicles in May 2023, down 2 per cent year-on-year (YoY) as the automaker made gains in the electric cars (EV) market.
The company’s total private vehicle sales went up by 6 per cent YoY at 45,984 units, according to its filing with the BSE.
Total commercial vehicle sales stood at 28,989 units in May, declining 12 per cent YoY. In that segment, the company registered a growth of 7 per cent in passenger carriers and 11 per cent growth in the HCV (Heavy commercial vehicle) trucks segment. The SCV cargo and pickup segment of commercial vehicles registered the biggest dip of 19 per cent in sales.
In private vehicles, the PV IB (Passenger Vehicle (PV) International Business (IB)) segment grew 108 per cent but that was on a low base of 51 vehicles sold in May 2022. The company sold 106 PV IB vehicles in May 2023.
The company’s electric private vehicles grew 66 per cent YoY, with 3,505 units sold in May 2023.
The May data comes at a time when Tata Motors’ Punch, a micro-SUV, has registered more than 200,000 in sales. The company is also drawing customers for its larger SUVs like Nexon, Safari, and Harrier.
Tata Motors’ electric vehicles top the Indian market, with Nexon EV and the newly launched Tiago EV being popular products.
With its recent introduction of CNG variants for its premium hatchback Altroz, Tata Motors is hoping to maximise its sales just as it has done with its more affordable vehicle, Tiago.
To attract customers, Tata has made changes to the CNG technology in its vehicles that feature twin cylinders ensuring better boot space. Additionally, Tata’s CNG cars can be started directly in the CNG mode, unlike other CNG cars that need to be in petrol mode to get things going.