Tata Motors sells 47,359 PVs, 7,025 EVs in June, surpasses 275,000 units in H1 

Tata Motors has reported wholesales of 47,359 units in June 2023, which is a 5% year-on-year increase (June 2022: 45,305 units). This is the carmaker’s second-best monthly performance in the first six months of 2023, after January 2023’s 48,289 units.

The second quarter (April-June 2023) sales at 140,450 units are an 8% growth (Q2 CY2022: 130,327 units) and 3.53% up on Q1 (January-March 2023) sales of 135,654 units. Combined Q1 and Q2 sales add up to 276,104 units, up 9% on first-half CY2022 sales of 253,916 units. At halfway stage in CY2023, this number is 52% of the company’s record CY2022 sales of 526,798 units.

Best-ever monthly EV sales in June, H1 numbers up 88%

Tata Motors, which is among the few PV OEMs with multiple powertrains spanning petrol, diesel, CNG and electric is driving home the first-mover advantage it has in electric vehicles (EVs).

Sales of its EV portfolio comprising the Nexon EV, Tigor EV / Xpres-T and the Tiago EV scaled a new monthly high in June 2023 – 7,025 units – and helped grow the Q2 CY2023 total to 19,346 units, which constitutes robust 105% YoY growth (Q2 CY2022: 9,446 units), as per the EV-specific data wholesales table below.

The Q2 vs Q1 comparison shows that April-June 2023 EV sales of 19,346 units are up 21% over January-March 2023’s 15,960 units. First-half CY2023 EV sales have crossed the 35,000-units mark at 35,306 units and are an 88% YoY increase (January-June 2022: 18,814 units). Clearly, the entry of the Tiago EV, the country’s most affordable electric car, has helped accelerate the numbers.

Commenting on the June and Q2 numbers, Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility said, “The passenger vehicle industry in Q1 FY2024 witnessed robust demand driven by new launches, especially in the SUV segment and EVs. While SUVs continued to be the mainstay, contributing almost 64% of the sales in Q1 FY2024, car sales remained strong, buoyed by the multi-powertrain offerings of Tiago and Altroz."

He added, "The recently launched Altroz iCNG has received an excellent response from customers. In the EV segment, the company posted its highest ever quarterly sales of 19,346 units in Q1 FY2024, registering a growth of 105% over Q1 FY2023. This growth is driven by a strong market response to Tiago EV while demand for other EVs was sustained. Going forward, we expect the demand to remain robust with the onset of the festive season in the second half of Q2FY24. The supply side situation remains stable.”

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