Tata Motors Limited has announced a strong start to the fiscal year 2024-25, registering total sales of 229,891 units in Q1 FY25. This performance marks an increase from the 226,245 units sold during the same period in the previous fiscal year, reflecting the company’s steady growth trajectory.
Domestic Sales Performance
Tata Motors recorded total domestic sales of 74,147 units, an 8% decline compared to 80,383 units in June 2023. However, on a quarterly basis, the company saw a 2% increase with 225,719 units sold in Q1 FY25, up from 222,345 units in Q1 FY24.
Commercial Vehicles (CV)
Tata Motors‘ commercial vehicle segment showed mixed results. The total domestic CV sales in Q1 FY25 were 87,615 units, a 7% increase compared to 82,225 units in Q1 FY24. However, the monthly comparison for June 2024 showed a decrease of 8% with 30,623 units sold, down from 33,148 units in June 2023.
HCV Trucks: Sales for June 2024 stood at 8,891 units, an 8% drop from 9,625 units in June 2023. Quarterly sales remained steady with 24,690 units in Q1 FY25 compared to 24,769 units in Q1 FY24.
ILMCV Trucks: The segment saw a 6% increase in June 2024 sales at 4,997 units compared to 4,723 units in June 2023. The quarterly performance was even more impressive, with a 34% rise to 13,791 units in Q1 FY25 from 10,321 units in Q1 FY24.
Passenger Carriers: This category experienced an 18% growth in June 2024 with 5,654 units sold, up from 4,810 units in June 2023. Quarterly sales surged by 39% to 14,893 units in Q1 FY25, compared to 10,745 units in Q1 FY24.
SCV Cargo and Pickup: Sales declined by 21% in June 2024, totaling 11,081 units versus 13,990 units in June 2023. Quarterly sales fell by 6% to 34,241 units in Q1 FY25 from 36,390 units in Q1 FY24.
The domestic sales of MH&ICV for June 2024 were 14,640 units, slightly up from 14,427 units in June 2023.
In Q1 FY25, this segment achieved 40,349 units, an increase from 35,188 units in Q1 FY24. Including international sales, MH&ICV sales for June 2024 were 15,224 units, compared to 14,770 units in June 2023, and 41,974 units in Q1 FY25 versus 36,577 units in Q1 FY24.
Passenger Vehicles (PV)
The passenger vehicle segment, including electric vehicles, reported total domestic sales of 43,524 units in June 2024, an 8% decrease from 47,235 units in June 2023. Quarterly sales dipped slightly by 1% to 138,104 units in Q1 FY25 from 140,120 units in Q1 FY24.
Electric Vehicles (EV): Sales in this segment saw a significant decline of 34% in June 2024 with 4,657 units sold, down from 7,025 units in June 2023. Quarterly EV sales also fell by 14% to 16,579 units in Q1 FY25 from 19,346 units in Q1 FY24.
Mr. Chandra, MD of Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd., noted, “In Q1 FY25, the Passenger Vehicle industry saw a decline due to the general elections and heat waves across the country. Tata Motors wholesales of 138,682 cars and SUVs in Q1 FY25 remained flat compared to Q1 FY24, as we readjusted our wholesales in line with retails to keep channel inventory under control.”
Future Outlook
Looking ahead, Mr. Girish Wagh, Executive Director, Tata Motors Ltd., expressed optimism about the commercial vehicle segment, citing expectations of a healthy monsoon, policy continuity, and government infrastructure projects as key growth drivers. Similarly, Mr. Shailesh Chandra anticipates a recovery in passenger vehicle demand, supported by a strong enquiry pipeline and the onset of the festive season from August.
Tata Motors remains committed to partnering with customers for success while closely monitoring macroeconomic factors such as geopolitical developments, interest rates, fuel prices, and inflation.