Tata Motors' sales slump 3% in August, EV numbers down 5%

Tata Motors on Sunday announced that its retail sales in August 2024, including both domestic and export numbers, registered a three per cent slump on year-on-year basis. The sales of internal combustion engine and electric propulsion-powered passenger vehicles took a dip last month. Sales of the passenger vehicles combining both ICE and EVs recorded 44,486 units in August this year, down from 45,933 units registered in the same month a year ago.

In the Indian domestic market, Tata Motors registered a three per cent sales slump last month with 44,142 units. In comparison, the homegrown automobile giant sold 45,513 units of passenger vehicles including both ICE and EVs in August last year. Export numbers for the automaker too witnessed a slump. Tata Motors shipped 344 passenger vehicles to overseas markets, while in August last year, the number was 420 units. This means, the auto manufacturer' export figures dropped by 18 per cent on a year-on-year basis.

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When it comes to electric vehicles, Tata Motors remains the top selling brand in the Indian electric passenger vehicle market. The carmaker holds about 85 per cent market share in the Indian electric car space with its range of electric vehicles including Nexon EV, Punch EV, Tiago EV, Tigor EV and recently launched Curvv EV. Tata Motors claims to have sold 5,935 units of electric cars in August 2024, in comparison to 6,236 units of electric cars sold in the same month a year ago. This resulted in Tata Motors' electric car sales slumping five per cent on a year on year basis in August 2024.

Meanwhile, Tata Motors is gearing up to launch its much awaited coupe SUV Curvv on September 2. The automaker already unveiled the ICE version of the coupe SUV while launching the EV variant on August 7. The pricing of the petrol and diesel variants of the SUV will be announced tomorrow.

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