Tata Motors, the leading Indian automaker, witnessed a notable 5.8% year-on-year growth in passenger vehicle (PV) sales during May 2023. However, commercial vehicle (CV) sales faced a 12% decline, primarily due to lower demand for small commercial vehicles (SCVs) and intermediate light commercial vehicles (ILCVs). Let’s take a closer look at the sales figures:
- In the PV segment, Tata Motors sold a total of 45,878 units, including electric vehicles (EVs).
- This reflects a 5.8% YoY growth compared to the 43,341 units sold in May last year.
- Although the sales volume increased by 2,537 units YoY, there was a slight month-on-month (MoM) decline of 2.40%, resulting in a loss of 1,129 units compared to April 2023.
- The upcoming launches of facelifted models such as Nexon, Harrier, and Safari, along with the introduction of the Curvv compact SUV, are expected to drive higher volumes in the future.
- Tata’s EV sales experienced an impressive 66% YoY growth, with 5,805 units sold, including models like Nexon EV Prime, Nexon EV Max, Tiago EV, and Tigor EV. The company plans to launch Punch EV, Harrier EV, and Safari EV soon.
- Tata Motors remains the market leader in the CV space.
- However, the SCV cargo, pickup, and ILCV segments faced challenges in terms of sales.
- The HCV (Heavy Commercial Vehicle) segment recorded 11% YoY growth, selling 8,160 units, primarily driven by the Signa and Prima range of trucks.
- In contrast, the ILCV segment witnessed a significant decline of 38% YoY, with 3,450 units sold compared to 5,540 units last year. This includes the Ultra series and LPT series.
- SCVs and passenger carriers also experienced sales decline, with a 19% YoY drop in SCVs (12,086 units sold) and a 7% YoY growth in passenger carriers (3,874 units sold).
Overall Sales Performance:
- Tata Motors sold a total of 28,989 commercial vehicles in May 2023, resulting in a 12% YoY decline.
- Combining the PV and CV sales, the company’s total domestic sales witnessed a slight 2% YoY decrease, with 73,448 units sold compared to 74,755 units in May last year.
Tata Motors aims to bounce back with upcoming launches and strategies to improve sales in the CV space.