New Delhi : Even though the sales of passenger vehicles of India’s domestic car manufacturer Tata Motors have seen a decline of about eight percent for two consecutive months in August and September, people have flocked to its electric vehicles. According to a media report, the automaker sold about 37,961 vehicles in the first six months of the financial year 2023-24, which shows a strong growth of about 77 percent on an annual basis. However, during the first nine months of the current year 2023, the sales of electric vehicles of Tata Motors are about 53,921 units, which is 76 percent more on an annual basis. The company had sold about 38,055 units of electric vehicles from January 2022 to September 2022.
Sales of 37,961 units of electric vehicles in the first half
The report states that Tata Motors’ sales of 37,961 units of electric vehicles in the first half of the current financial year 2023-24 is already 79 per cent of the 47,792 units of the fiscal year 2023, which is its best 12-month sales so far. Is. Given this rapid pace of sales, it can be estimated that Tata Motors will add another 45,000-50,000 EVs in the remaining six months of FY 2024 to reach the 85,000 unit figure.
6 percent decline in passenger vehicle sales
According to media reports, domestic sales of passenger vehicles of Tata Motors have declined by about 6 percent to 44,809 units during September 2023. In comparison, the automaker had sold 47,654 units of passenger vehicles in the month of September last year. The export number in this segment increased by about 142 percent last month to 508 units, which was more than about 210 units in the month of September 2022.
Sales of passenger vehicles decreased by three percent in the second quarter
The report said that in the second quarter of the current financial year 2023-24, the total sales of passenger vehicles of Tata Motors have also declined by about three percent to 1,38,939 units, while the number of passenger vehicles sold between the months of July and September. Was 1,42,851 units. Along with this, domestic sales of passenger vehicles of Tata Motors also declined by 2.7 percent to around 1,37,950.
55 percent increase in sales of electric vehicles
A report also said that in contrast to the decline in the sales of passenger vehicles, Tata Motors has registered a strong growth in the sales of electric vehicles. The automaker has registered a huge growth of about 57 percent in the electric vehicles segment with cars like Nexon EV, Tigor EV and Tiago EV. The company claims that it has sold about 6,050 units of electric cars last month, which is more than the 3,864 units sold in the same month a year ago. It is also being told that in the second quarter of the current financial year 2023-24, Tata Motors sold about 18,615 electric cars, which is about 55 percent more than the 12,041 units sold during the same period a year ago.
Electric vehicle sales expected to remain strong in festive season
Commenting on the sales performance, Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, said that PV sales remained strong in the second quarter of this financial year due to new product launches. Passenger vehicle sales remained strong in Q2FY24 due to new launches and pre-festive offtake. Tata Motors recorded quarterly sales of 138,939 cars and SUVs in Q2FY24, down 2.7% from our highest ever quarter, Q2FY23. He said that our EV business has continued its strong momentum and has registered a growth of almost 55 percent year-on-year.
He said that in Q2FY24, we extended our innovative twin-cylinder CNG offering to Tiago, Tigor and Punch, which have been well received by the market. The new generation Nexon and Nexon EV were also launched in this quarter, which have received an overwhelming response from the market. We have actively reduced the supply of older models this quarter to enable a smooth transition to the new generation models. He further said that with the commencement of deliveries of its new products, Tata Motors expects electric vehicle sales to remain strong during the festive season and beyond.