- Total CV Sales of 84,281 units, -19% YoY
- Total PV Sales of 1,30,753 units, -6% YoY
Mumbai 01 October 2024: Tata Motors Limited sales in the domestic & international market forQ2FY 2024-25 stood at 2,15,034vehicles, compared to 2,43,024units during Q2FY 2023-24.
Domestic Sales Performance:
| Category | Sept’24 | Sept’23 | %
Change |
Q2 FY25 | Q2 FY24 | %
Change |
| Total Domestic Sales | 69,694 | 82,023 | -15% | 2,09,861 | 2,37,128 | -11% |
Commercial Vehicles:
| Category | Sept’24 | Sept’23 | %
Change |
Q2 FY25 | Q2 FY24 | %
Change |
| HCV Trucks | 9,295 | 12,867 | -28% | 22,904 | 30,369 | -25% |
| ILMCV Trucks | 5,387 | 6,377 | -16% | 14,693 | 16,483 | -11% |
| Passenger Carriers | 3,101 | 3,344 | -7% | 10,935 | 10,622 | 3% |
| SCV cargo and pickup | 10,848 | 14,626 | -26% | 31,399 | 41,704 | -25% |
| Total CV Domestic | 28,631 | 37,214 | -23% | 79,931 | 99,178 | -19% |
| CV IB | 1,401 | 1,850 | -24% | 4,350 | 4,907 | -11% |
| Total CV | 30,032 | 39,064 | -23% | 84,281 | 104,085 | -19% |
Domestic sales of MH&ICV in Sept 2024, was 14,190 units vs 18,577 units in Sept 2023; In Q2 FY25 it was 37,372 units, compared to 45,174 units in Q2 FY24.
Domestic & International sales for MH&ICV in Sept 2024, was 14,839 units vs 19,199 units in Sept 2023; while in Q2 FY25 it stood at 39,433 units, vs 46,865 units in Q2 FY24.
Mr. Girish Wagh, Executive Director, Tata Motors Ltd. said,“Tata Motors Commercial Vehicles domestic sales at 79,931 units in Q2 FY25 were ~19% lower than Q2 FY24 sales. Sales in September 2024 were ~11% higher compared to August 2024.
Slowdown in infrastructure project execution, reduction in mining activity and an overall drop in fleet utilization due to heavy rains resulted in the HCV segment record a 25% YoY decline in Q2 FY25 and the ILMCV segment register a 11% decline. The resilient demand in the passenger commercial vehicles business saw it register a 3% increase in Q2 FY25 over Q2 FY24. SCVPU volumes decline by 25% YoY, and we expect a gradual improvement as we press on with initiatives to address challenges in first-time user financing.
As we move forward, with the rains easing, increased infrastructure spending, and the arrival of the festive season boosting consumption, we anticipate demand to pick up gradually in Q3, led by ILMCV and Buses, followed by M&HCV and SCVPU.”
Passenger Vehicles:
| Category | Sept’24 | Sept’23 | %
Change |
Q2 FY25 | Q2 FY24 | %
Change |
| Total PV Domestic (includes EV) | 41,063 | 44,809 | -8% | 129,930 | 137,950 | -6% |
| PV IB | 250 | 508 | -51% | 823 | 989 | -17% |
| Total PV (includes EV) | 41,313 | 45,317 | -9% | 130,753 | 138,939 | -6% |
| EV (IB + Domestic) | 4,680 | 6,050 | -23% | 15,642 | 18,615 | -16% |
Includes sales of Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, both subsidiaries of Tata Motors Limited.
Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd.said, “The PV industry in Q2FY25 sawmore than 5% decline in retails (Vahan registrations) compared to Q2FY24 driven by slow consumer demand and seasonal factors. In contrast, industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in a continued buildup of channel stock. In addition, Electric Vehicle sales in personal segment was affected by the lapse of registration and road tax waivers in key states. Fleet EV sales continued to remain impacted due to lapse of FAME II and non-inclusion of the fleet segment in PM-eDRIVE scheme.
Tata Motors posted wholesales of 130,753 units in Q2FY25, a decline of 6% compared to Q2FY24, as we readjusted wholesales to lower-than-expected retails, to keep channel inventory under control. During the quarter, we launched the Curvv, which has received an excellent response with strong bookings for all its powertrains – petrol, diesel and electric. Initial deliveries of Curvv have commenced, and we will continue to ramp up production in Q3. Our market facing interventions have been well received, generating a strong pipeline. The launch of our higher range Nexon.ev has also generated strong consumer interest.
Registrations picked up pace towards end of the month which augurs well for the festive period ahead and we remain focused on driving up consumer preference for our exciting range of vehicles while maintaining the health of our dealer network.”
