Tata Motors reports 82% rise in domestic sales, EV sales up 433% in June

Homegrown automotive manufacturer Tata Motors, on Friday, announced an 82 per cent rise in domestic sales to 79,606 units in June 2022 as against 43,704 in June 2021. In May 2022, the company sold 74,755 units.

In the Q1 FY23, Tata Motors’ PV sales were at 1,30,125 units compared to 64,386 units in the year-ago period.

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd, in a statement, said, “Demand for passenger vehicles continued to stay strong in Q1 FY23 even as the supply side remained moderately impacted due to the lockdown in China. Overcoming the challenges, Tata Motors posted record-breaking monthly sales (June’22) as well as quarterly sales (Q1 FY23).”

In June 2022, Tata Motors recorded its highest ever sales at 45,197 units, registering a growth of 87 per cent versus June 2021. On the other hand, Tata Motors Q1 FY23 sales was also the highest ever at 130,125 units, up 102 per cent as against Q1 FY22. The automaker had sold 62,671 units in Q1 FY22.

Indian automaker’s SUV portfolio contributed 68 per cent of Q1FY23 sales, while its electric vehicle (EV) sales reached new heights with sales of 9,283 in Q1 FY23.

The company recorded its highest-ever monthly sales, in terms of EVs too, at 3,507 units in June 2022 as its Nexon EV Max, launched in May, witnessed strong demand.

“Going forward, we expect the supply side, including that of critical electronic components to progressively improve. We will continue to keep a close watch on the evolving demand and supply situation and take appropriate actions,” Chandra added.
 
Moreover, in terms of commercial vehicle (CV) sales in the domestic market, the company reported that it sold 34,409 units in June 2022, up 76 per cent, as compared to 19,594 units in June 2021.

Tata Motors said that in Q1 FY23 its domestic CV sales stood at 95,703 units, up 110 per cent, compared to 43,400 units in the same period last fiscal. In Q4 FY22, the company had sold 2,33,078 units.

Girish Wagh, Executive Director, Tata Motors Ltd, said, “Tata Motors Commercial Vehicles domestic sale in Q1 FY23 at 95,703 units was 121 per cent higher than Q1 FY22 (a COVID impacted quarter) while being 13 per cent lower than the previous quarter Q4 FY22. The growth in Q1 has been broad-based across regions and segments.”

Tata Motor’s M&HCV and I&LCV segments, in Q1 FY23, rose 104 per cent and 138 per cent, respectively, over the same quarter last year on the back of increased activity in road construction, mining, and growth in agriculture and e-commerce.

Tata Motors’ small commercial vehicle (SCV) segment saw the sale of 16,632 units in June 2022, up 57 per cent, as against 10,623 units in June 2021. The company managed to sell around 14,899 units in May 2022.

“SCV demand from last-mile distribution has remained robust backed by continued consumer spending. CV Passenger saw a strong recovery, with a 57 per cent increase over Q4 FY22, due to the opening of schools and replacement of staff buses. The International Business declined by 23 per cent over Q1 FY22, majorly due to a drop in industry volume on account of the financial crisis in Sri Lanka and Nepal,” added Wagh.

Tata Motors said that in Q1 FY23 its total CV exports stood at 5,218 units, down 23 per cent, compared to 6,745 units in the same period last fiscal. In Q4 FY22, the company had sold 9,843 units.

Wagh further added, “Going ahead, we remain cautiously optimistic about overall demand while keeping a close watch on interest rates, transporter profitability, commodity prices and semiconductor availability.”