Tata Motors Limited, one of India’s leading automotive manufacturers, has released its sales data for May 2023, revealing a total of 74,973 vehicles sold in the domestic and international markets. While the figures indicate a slight decline compared to May 2022, the company remains optimistic about its performance and continues to showcase its commitment to delivering high-quality vehicles.
In the domestic market, Tata Motors sold a total of 73,448 vehicles in May 2023, showcasing a marginal decrease of 2% compared to the same period last year. The breakdown of the domestic sales figures reveals notable trends across different vehicle categories.
The commercial vehicle segment showed a mixed performance, with certain sub-categories demonstrating growth while others experienced a decline. HCV trucks experienced a notable 11% increase, with sales reaching 8,160 units in May 2023. On the other hand, ILMCV trucks faced a decline of 38%, selling 3,450 units. Passenger carriers, including buses, saw a positive growth of 7% with sales of 3,874 units. However, SCV cargo and pickup sales declined by 19%, totalling 12,086 units. Overall, the commercial vehicle domestic sales stood at 27,570 units, reflecting a 12% decrease compared to May 2022.
Domestic sales of MH&ICV (Medium and Heavy Commercial Vehicles) in May 2023, which includes trucks and buses, amounted to 11,442 units, slightly lower than the 12,056 units sold in the same month last year. The total sales figure for MH&ICV, encompassing both domestic and international business, reached 11,958 units, compared to 12,810 units in May 2022.
In the passenger vehicle segment, Tata Motors achieved positive growth in May 2023. Total domestic passenger vehicle sales, including electric vehicles (EVs), reached 45,878 units, showing a 6% increase compared to the previous year. The PV IB (Passenger Vehicles – Indigo, Bolt) sub-category contributed to this growth, witnessing a substantial 108% surge in sales, with 106 units sold in May 2023.
The overall passenger vehicle sales, inclusive of EVs, reached 45,984 units, showcasing a 6% increase compared to May 2022. The EV segment experienced remarkable growth, with sales of EVs (IB + Domestic) totalling 5,805 units, reflecting a significant 66% increase compared to the previous year. These sales figures encompass the performance of Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, both subsidiaries of Tata Motors Limited.
As Tata Motors continues to adapt to evolving market dynamics, the company remains committed to delivering high-quality vehicles and exploring innovative solutions. Despite the slight decline in domestic sales, Tata Motors anticipates further growth opportunities and aims to consolidate its market position in the coming months.