Tata Motors reports 10 pc increase in total domestic sales

Tata Motors on Sunday reported a 10 per cent increase in total domestic sales at 72,997 units in December 2022. The company had sold 66,307 units in the same month previous year, Tata Motors said in a statement.

Passenger vehicle sales in the domestic market stood at 40,043 units last month as against 35,299 units in December 2021, a growth of 13.4 per cent.

Sales of electric passenger vehicles, including exports, were at 3,868 units last month as compared to 2,355 units in December 2021, up 64.2 per cent, the company said.

“For Tata Motors passenger vehicles, calendar year 2022 has been a momentous year as we outpaced industry growth and crossed the distinctive milestone of 5 lakh units comfortably to post wholesale of 5,26,798 units,” Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing
Director Shailesh Chandra said.

Going forward, he said, “We expect the growth momentum for EVs to remain strong with their rising popularity and the announcement of progressive policies by several states.”

Overall, Chandra said, “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-19 cases globally.”

On the commercial vehicles front, Tata Motors said total sales were marginally down at 33,949 units last month as compared to 34,151 units in December 2021.

However, domestic sales were up 6.3 per cent at 32,954 units as against 31,008 units in December 2021

Tata Motors Ltd Executive Director Girish Wagh said the company has continued focus on retail and reducing inventory as the company transitions towards BSVI phase-2 norms.

“Going forward, we expect a good replacement demand, especially in MHCVs (medium and heavy commercial vehicles) 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,” he added.