Tata Motors’ November sales rise 55%, 8-month numbers already 97% of record FY2022

Tata Motors, which continues to record strong double-digit growth in its domestic market passenger vehicle operations, has reported sale of 46,037 units in November 2022. This constitutes 55% year-on-year growth and is 16,259 units more than 29,778 units the carmaker had sold in November 2021.

Viewed from the April-November 2022 cumulative sales perspective, Tata Motors has sold a total of 363,704 units – a 71% YoY increase (April-November 2021: 212,022 units) – which translates into average monthly sales of 45,463 units. What’s more, this total in the first eight months of the ongoing fiscal is already 97% of the company’s best-ever sales of 373,138 units in FY2022. At present, it is just 9,434 units shy of that total, which will be crossed in the first week of December.

The EV advantage
Where Tata Motors has a strong advantage over its PV rivals is with its EV portfolio. At present, it has three models – the Nexon EV, Tigor EV and the fleet-only XPres-T EV.  The Tiago EV, which takes the electric vehicle mantra to the mass-market, will enter the market in January 2023.

The company, which has targeted production and sale of over 500,000 PVs, including 50,000 EVs in FY2023, is well on track towards achieving its goal. With four months left in the ongoing fiscal, Tata Motors is 136,296 units away from that target. The estimated model split for the cumulative sales is 334,765 IC engine cars and 28,939 EVs.

Tata Motors’ strong and sustained performance also means it is hard on the heels of No. 2 PV player, Hyundai Motor India. At this stage in the fiscal, Tata is 17,305 units behind Hyundai’s cumulative April-November 2022 sales of 381,009 units.