Tata Motors has reported wholesales of 47,166 passenger vehicles, which translates into 68% year-on-year growth (August 2021: 28,018 units). This total is just 339 units shy of the carmaker’s best monthly sales figure: 47,505 units in July 2022.
The company, which is firing on all cylinders with its ICE pack of the Altroz, Tiago, Tigor, Nexon, Punch, Harrier and Safari and also its Nexon and Tigor electric vehicles, continues to notch robust numbers in the competitive Indian marketplace. And the company has entered the CNG market too with its Tiago i-CNG and Tigor i-CNG.
August 2022 seems to have turned out to be a rather august month, both on the ICE and EV front. Sales of 43,321 ICE PVs were a 60% YoY increase (August 2021: 26,996) and 3,845 EVs a 276% YoY growth (August 2021: 1,022).
A look at the five-month wholesales data table above reveals more. The 224,796 units for the April-August 2022 period, which constitute 83% YoY growth (April-August 2021: 122,589 units), are 687 units more than Tata Motors’ entire FY2021’s sales of 224,109 units. In FY2022, the company sold 373,138 units, recording 66% YoY growth.
The Punch compact SUV keeps punching above its weight. Its August 2022 tally of 12,006 units betters its previous best of 11,007 units in July 2022. And the Nexon has also scaled a new monthly high – 15,085 units. The two siblings’ combined sales – 27,091 units – account for 57% of Tata Motors’ overall PV sales in August.
EVs in full charge
Where Tata Motors has an advantage over the PV competition in India is with its EV portfolio. At present, it has three models – the Nexon EV, Tigor EV and the fleet-only XPres-T EV – but is looking to aggressively expand its EV portfolio. It is understood that there are 10 new EVs to be added in the next few years as the company looks to increase its EV presence and also keep new competition at bay. As is known, Mahindra & Mahindra will be revealing its all-electric XUV400 on September 8. At 3,845 units last month, EVs account for 8% of Tata’s overall PV sales, establishing the importance of the first-mover advantage.
As is known, Tata has targeted production and sale of over 500,000 PVs this fiscal. In the first five months of FY2023, it has averaged monthly sales of 44,959 units. If it maintains this growth trajectory, there is no reason why the half-a-million target should not be achieved.
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