Tata Motors Limited reported a total sales figure of 71,693 vehicles in the domestic and international markets for August 2024, reflecting a 8% decline compared to 78,010 units sold in the same period last year.
Domestic Sales Performance:
The company witnessed a significant drop in its domestic sales, with total units sold in August 2024 standing at 70,006, down from 76,261 in August 2023, representing a 8% year-on-year decline.
Commercial Vehicles:
The commercial vehicle segment faced a challenging month, with overall sales dropping by 15% year-on-year. In the domestic market, Tata Motors sold 25,864 units, a 16% decrease compared to 30,748 units in August 2023. Heavy commercial vehicle (HCV) trucks saw a steep 21% decline, with sales falling from 9,000 units in August 2023 to 7,116 units in August 2024. The small commercial vehicles (SCV) cargo and pickup segment also recorded a significant 23% drop, with sales totaling 10,373 units compared to 13,555 units in the same period last year.
However, the passenger carriers segment provided a silver lining, registering a 14% growth with 3,410 units sold, up from 2,986 units in August 2023.
In the international market, commercial vehicle sales remained relatively stable, with a 1% year-on-year growth, reaching 1,343 units.
The total sales for medium and heavy commercial vehicles (MH&ICV) in both domestic and international markets stood at 12,708 units, compared to 14,016 units in August 2023, reflecting a 9% drop.
Passenger Vehicles:
Tata Motors’ passenger vehicle segment, including electric vehicles (EVs), also experienced a slight decline. Total domestic sales reached 44,142 units, a 3% dip from 45,513 units in August 2023. International sales of passenger vehicles fell by 18%, with 344 units sold compared to 420 units last year.
The company’s EV segment, which includes both domestic and international sales, also saw a 5% decline, with 5,935 units sold in August 2024, down from 6,236 units in August 2023.
Tata Motors continues to navigate a challenging market landscape, balancing declines in key segments with growth in others, as it adapts to evolving industry dynamics.
