Tata Motors Registered Total Sales Of 2,28,169 Units In Q3FY23; Grows By 14% Over Q3FY22

A file photo of Nexon EV MAX of Tata Motors

Tata Motors Limited announced its sales in the domestic & international markets, for Q3FY23, which stood at 2,28,169 units, compared to 1,99,634 units during Q3FY22. 

Domestic Sales Performance:

CategoryDec’22Dec’21 GrowthQ3FY23Q3FY22 Growth
Total Domestic Sales72,99766,30710%2,23,0011,89,53117.7%

Commercial Vehicles:

Mr. Girish Wagh, Executive Director, Tata Motors Ltd. said, “Tata Motors commercial vehicles domestic sale in Q3FY23 at 91,704 units grew 1.3% over Q3FY22 while being 2% lower than those recorded in Q2FY23. Our continued focus on retail during the quarter resulted in retail sales surpassing wholesale by 13% in December’22, by 6.3% in Q3FY23, and reducing inventory as we transition towards BSVI phase-2 norms. The growth in Q3FY23 was led by stronger sales of MHCVs (+35% vs Q3FY22) and a robust recovery in passenger carriers demand (+84% vs Q3FY22).  Improving fleet utilization, pick up in road construction projects and increase in cement consumption catalyzed the demand recovery for MHCVs. CV exports, however, remained subdued due to the prevailing economic situation in most overseas markets. Going forward, we expect a good replacement demand, especially in MHCVs in Q4 FY23, as we also maintain a close watch on the evolving geopolitical situation, inflation, and interest rate risks on both the supply and demand.”

ALSO READ  Servotech Power Systems Ltd. Announces Q3 Results For FY22-23, Registers 84% Increase In Profits
CategoryDec’22Dec’21GrowthQ3 FY23Q3 FY22Growth
Passenger Carriers2,6941,38095.2%6,4943,52184.4%
SCV cargo and pickup14,82716,392-9.5%43,49349,164-11.5%
Total CV Domestic32,95431,0086.3%91,70490,5291.3%
CV Exports9953,143-68.3%4,2109,541-55.9%
Total CV33,94934,151-0.6%95,9141,00,070-4.2%

Domestic sales of MH&ICV in Q3FY23, including trucks and buses, stood at 40,391 units, compared to 33,753 units in Q3FY22. Total sales for MH&ICV Domestic & International Business in Q3FY23, including trucks and buses, stood at 42,369 units, compared to 37,887 units in Q3FY22.

Passenger Vehicles:

Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd., and Tata Passenger Electric Mobility Ltd. said, “For Tata Motors passenger vehicles, CY22 has been a momentous year as we outpaced industry growth and crossed the distinctive milestone of 5 lakh units comfortably to post wholesale of 526,798 units. Last quarter (Q3FY23) was one of the best quarters for the PV industry with strong retail from new launches, robust festive demand, and an adequate supply of vehicles. Tata Motors PV posted the highest ever quarterly and monthly retails in Q3FY23 and Dec’22, respectively. We also crossed the coveted 50,000 units of monthly retail for the first time. Wholesales recorded in Q3FY23 were of 131,297 units (growth of 32.6% vs Q3 FY22) and in Dec’22 of 40,043 units (growth of 13.4% vs Dec’21) with the popular SUV range continuing to contribute to two-thirds of the sales volumes. EVs posted their highest-ever sales in Q3FY23 at 12,596 units (growth of 116.2%) and crossed the landmark cumulative sales milestone of 50,000 units. Tiago.ev received tremendous response, post the bookings opening during the quarter; deliveries to start in Jan’23. Going forward, we expect the growth momentum for EVs to remain strong with their rising popularity and the announcement of progressive policies by several states. Overall, we expect the PV industry to continue witnessing robust demand in the next quarter. We intend to remain vigilant and closely monitor any possible impact on the supply side due to rising COVID case globally.”

ALSO READ  FLASH To Showcase The Future Of Electromobility At The Auto Expo 2023 Components Show
Business / CategoryDec’22Dec’21GrowthQ3 FY23Q3 FY22Growth
PV Domestic40,04335,29913.4%1,31,29799,00232.6%
PV IB364163123.3%95856270.5%
PV Total (includes EV)40,40735,46213.9%1,32,25599,56432.8%
EV IB + Domestic3,8682,35564.2%12,5965,826116.2%

Includes sales of Tata Motors Passenger Vehicles Limited, a subsidiary of Tata Motors Limited. 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.