Tata Motors car sales slump 5% in September, EVs grow 57%

Tata Motors on Sunday announced in a regulatory filing that the automaker registered a five per cent sales slump in September in the passenger vehicle segment. The homegrown automobile manufacturer claims to have sold a total of 45,317 cars last month, down five per cent from 47,864 units registered in the same month a year ago.

Domestic sales of Tata Motors' passenger vehicle sales in September were down by six per cent at 44,809 units. In comparison, the auto manufacturer sold 47,654 units in the same month last year. Export numbers in the segment have jumped 142 per cent to 508 units last month, up from 210 units registered in September last year.

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Total passenger vehicle sales in the second quarter of the current financial year too were down by three per cent to 138,939 units, as compared to 142,851 units sold between July and September 2023. Domestic sales of Tata passenger vehicles were down by 2.7 per cent to 137,950 units in the same period, as compared to 142,325 units recorded in the corresponding period of last fiscal.

While the overall passenger vehicle sales slumped marginally for the homegrown automobile manufacturer, sales of electric vehicles have recorded impressive growth. Tata Motors has registered a whopping 57 per cent growth in the electric vehicle segment with its models like the Nexon EV, Tigor EV and Tiago EV. The automaker claims to have sold 6,050 electric cars last month, up from 3,864 EVs sold in the same month a year ago. In the second quarter of the current financial year, Tata Motors sold 18,615 electric cars, up 55 per cent from 12,041 units sold in the same period a year ago.

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Speaking about the sales performance, Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd., said that the PV sales remained strong in the second quarter of this financial year thanks to the new product launches. “Passenger vehicle sales remained strong in Q2 FY24 driven by new launches and pre-festive offtakes. Tata Motors posted quarterly sales of 138,939 cars and SUVs in Q2 FY24, 2.7 per cent below our highest-ever quarter, Q2 FY23. Our EV business continues its strong momentum and has posted growth of about 55 per cent year-on-year. In Q2 FY24, we extended our innovative twin-cylinder CNG offering to Tiago, Tigor and Punch, which have been received well by the market. This quarter also saw the launch of the new generation Nexon and Nexon.ev, which have received an overwhelming market response. We had proactively reduced supplies of the outgoing models this quarter to enable a smooth transition to the new generation models," he said further adding that with the deliveries commencing of its new products, Tata Motors is expecting higher sales volumes in the festive season and beyond.