Tata Motors domestic sales climbs 44% YoY in September 2022

The auto major's total domestic sales surged 44% to 80,633 units sold in September 2022 as against 55,988 units sold in September 2021.

Total commercial vehicles (CV) (domestic + exports) rose 5% to 34,890 units in September 2022 over 33,258 units in September 2021. Total domestic CV sales in September 2022 stood at 32,979 units, registering a growth of 9% as against 30,258 units sold in September 2021. CV exports slumped 36% to 1,911 units from 3,000 units sold during the period under review.

Girish Wagh, executive director of Tata Motors, said, The commercial vehicles industry witnessed a consistent demand in Q2 FY23. Tata Motors CV business registered a 20% growth in domestic sales over Q2 FY22, recording sales of 93,675 units during the quarter. This growth was led by stronger sales of MHCVs and a robust recovery in passenger carriers demand. Improving fleet utilizations, pick up in road construction projects and increase in cement consumption catalysed the demand recovery for MHCVs. CV exports however shrunk sharply by 22% due to the economic situation in Sri Lanka and Nepal though it improved sequentially by ~30%.

He further added, The recent exciting launches of the new range of smart trucks in MHCV and ILCV, and best‐in‐class pickups will help us serve our customers better. Going forward, while we expect a strong sales in the festive season we will maintain a close watch on the evolving geopolitical, inflation and interest rate risks on both the supply and demand.

Total passenger vehicle (PV) soared 85% to 47,864 units sold in September 2022 as compared to 25,898 units sold in September 2021. Total domestic PV sales jumped 85% to 47,654 units sold in September 2022 as against 25,730 units sold in September 2021. PV ICE (internal combustion engine) sales surged 78% to 43,999 units while PV EV (electric vehicle) sales soared 239% to 3,655 units in September 2022 over September 2021.

Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said, The PV industry witnessed strong demand during Q2 FY23 fuelled by the festive season and new launches. Tata Motors scaled new highs in passenger vehicles with sales of 142,325 units during the quarter, recording a growth of ~70% versus Q2 FY22. The company also attained its highest ever monthly sales of 47,654 in Sep'22, posting 85% growth versus Sep'21. Led by record setting sales of Nexon and Punch, SUV sales contributed a rich ~66% of the quarterly PV sales. In electric vehicles, the company once again posted record‐breaking sales of 11,522 units in Q2FY23, registering a growth of 326% versus Q2 FY22.

With the recent launch of the Tiago EV, the company has opened new vistas and is poised to drive the mass adoption of EVs across the country. Going forward, we expect the festive season will witness strong retails on the back of improving supply of vehicles, he added.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, pick-ups, trucks and buses, offering extensive range of integrated, smart and e-mobility solutions. With operations in India, the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors' vehicles are marketed in Africa, Middle East, South & South East Asia, Australia, South America, Russia and other CIS countries.

The company reported a consolidated net loss of Rs 5,006.60 crore in Q1 FY23 as against a net loss of Rs 4,450.92 crore in Q1 FY22. Revenue from operations increased 8.3% YoY to Rs 71,935 crore in Q1 June 2022.

Shares of Tata Motors declined 0.85% to Rs 401.35 on the BSE.

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