Tata Motors reports June 2024 sales

Mumbai- Tata Motors Limited., sales in the domestic & international market for Q1 FY 2024-25 stood at 229,891 vehicles, compared to 226,245 units during Q1 FY 2023-24.

In June 2024, total domestic sales were 74,147 units, down 8% from June 2023's 80,383 units. However, Q1 FY25 shows a 2% increase with 225,719 units sold compared to 222,345 units in Q1 FY24, indicating a quarterly rebound despite the June decline.

In domestic commercial vehicle (CV) sales shows a performance. Heavy Commercial Vehicles (HCV) declined by 8%, while Intermediate and Light Commercial Vehicles (ILMCV) increased by 6%. Passenger Carriers surged by 18%, but Small Commercial Vehicles (SCV) cargo and pickup experienced a significant 21% drop. Overall, domestic CV sales decreased by 8% to 30,623 units.

For Q1 FY25, CV sales showed improvement. HCV sales remained stable, ILMCVs saw a 34% increase, and Passenger Carriers surged by 39%. However, SCV cargo and pickup declined by 6%. Total domestic CV sales for Q1 FY25 increased by 7% to 87,615 units.

Domestic sales of MH&ICV in June 2024, was 14,640 units vs 14,427 units in June 2023; In Q1 FY25 it was 40,349 units, compared to 35,188 units in Q1 FY24. 

Domestic & International sales for MH&ICV in June 2024, was 15,224 units vs 14,770 units in June 2023; while in Q1 FY25 it stood at 41,974 units, vs 36,577 units in Q1 FY24. 

Mr. Girish Wagh, Executive Director, Tata Motors Ltd. said, Tata Motors Commercial Vehicles saw domestic sales of 87,615 units in Q1 FY25, a 7% increase from Q1 FY24. June 2024 sales were 3% higher than May 2024. M&HCV segment led growth with a 10% rise, driven by strong demand in e-commerce, auto-aggregates, and LPG sectors. CV passenger business grew 39% post-pandemic, while small and light CVs declined 6% due to financing challenges. Positive outlook is driven by expected monsoon, policy continuity, and infra projects. 

In June 2024, the passenger vehicle market faced challenges, showing an 8% decline in domestic sales to 43,524 units and a 19% drop in imports to 100 units. Overall, including electric vehicles, the market also decreased by 8% to 43,624 units, with electric vehicle sales falling by 34% to 4,657 units. 

Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said,”Tata Motors' Passenger Vehicle wholesales remained flat at 138,682 units compared to Q1 FY24. The industry saw a decline in retails in May and June due to elections and heat waves. Electric Vehicle sales were impacted by the expiry of FAME II subsidy, with fleet sales sharply declining. Recovery is expected with strong enquiries and the upcoming festive season, supported by Tata Motors' SUV portfolio.”