Tata Motors reports marginal increase in total domestic sales in June

Tata Motors has reported a marginal increase of one per cent in its total domestic sales for the month of June at 80,383 units as against 79,606 units sold in the year-ago month. Sales of domestic passenger vehicles, including electric vehicles, stood at 47,235 units last month as compared to 45,197 units sold in the same month a year ago, witnessing a slight growth of 5 per cent.

The company attributed the robust demand for passenger vehicles in Q1 FY24 to new launches, especially in the SUV segment and electric vehicles. "Tata Motors continued its growth trajectory registering quarterly sales of 1,40,450 units in Q1 FY24 and recording a growth of 8 per cent over Q1 FY23," said Shailesh Chandra, Managing Director of the passenger vehicles and electric mobility businesses.

Tata Motors posted its highest-ever quarterly sales in the electric vehicle segment at 19,346 units, registering a growth of 105 per cent over Q1 FY23. Chandra noted that this growth was driven by a strong market response to Tiago EV while demand for the company's other EVs was sustained.

The company expects the demand for its passenger vehicles to remain robust with the onset of the festive season in the second half of Q2FY24. It noted that the supply side situation too remains stable.

In terms of its commercial vehicles (CV), Tata Motors' total sales were down 8 per cent at 34,314 units as compared to 37,265 units in June last year. Its domestic CV sales were down 4 per cent at 33,148 units as against 34,409 units in the year-ago month. The company's domestic CV sales in Q1 FY24 stood at 82,225 units, 14.1 per cent lower than Q1 FY23 sales.

Tata Motors' CV sales may do well in the coming days as monsoon and continuing infrastructure thrust by the government auger well for the CV industry, said Girish Wagh, the company's Executive Director.

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