Tata Motors Limited announced robust sales figures for May 2024, registering a total of 76,766 vehicles sold in domestic and international markets. This marks a slight increase from the 74,973 units sold in May 2023, reflecting a year-over-year (YoY) growth of 2%.
Commercial Vehicles (CV) Sector Performance
In the commercial vehicles segment, Tata Motors achieved total sales of 29,691 units, up by 2% from 28,989 units in May 2023. The domestic CV sales contributed 28,476 units, a 3% increase YoY. Noteworthy performances include:
- Intermediate and Light Commercial Vehicles (ILMCV) Trucks: 4,478 units sold, a significant 30% growth from the previous year.
- Passenger Carriers: 4,737 units sold, marking a 22% increase.
- Heavy Commercial Vehicles (HCV) Trucks: Slight dip with 7,924 units sold, down 3% from last year.
- Small Commercial Vehicles (SCV) Cargo and Pickup: Declined by 6% with 11,337 units sold.
However, the international business (IB) for commercial vehicles saw a decrease, with 1,215 units sold compared to 1,419 units in May 2023, a drop of 14%.
Passenger Vehicles (PV) Sector Performance
The passenger vehicles segment, which includes electric vehicles (EVs), saw total sales of 47,075 units, up 2% from 45,984 units in May 2023. Domestic PV sales stood at 46,697 units, also showing a 2% growth YoY. The international business for passenger vehicles witnessed a remarkable surge, with 378 units sold, representing a 257% increase from the previous year.
The EV sector, however, experienced a slight decline with 5,558 units sold, a 4% decrease from May 2023.
- Total domestic sales for May 2024 stood at 75,173 units, a 2% increase from 73,448 units in May 2023.
- Total sales for Medium and Heavy Commercial Vehicles (MH&ICV), including trucks and buses, reached 13,532 units, up from 12,292 units last year.
- The domestic sale of MH&ICV alone stood at 12,987 units, compared to 11,776 units in May 2023.
Tata Motors continues to demonstrate resilience and growth across various segments despite facing challenges in certain categories. The company’s strategic focus on expanding its ILMCV and passenger carriers market, along with a strong performance in the international PV sector, underpins its sustained market presence and growth trajectory.
