Tata Motors’ PV sales grows by 33 percent, CV remains flat in October
LCV and SCV cargo and pickup witnessed significant degrowth.
Mumbai-based Tata Motors reported a total sales number of 78,335 vehicle units during October 2022, registering a growth of 17 percent over the same period previous year when it had clocked 67,829 units.
In the passenger vehicle segment, including electric vehicles, the company witnessed a growth of 33 percent to 45,423 units during October 2022 as compared to 34,155 units earlier. The auto major attributed the reduced production in passenger vehicles during the month to a planned shutdown of the Pune plant for preventive maintenance and debottlenecking activities.
Crucially, the commercial vehicle segment which has been on an upcycle showed a flat growth during the comparable period, de-growing by two percent to 32,912 units in October 2022. The sales during corresponding period of last year stood at 33,674 units.
Within the commercial vehicle segment, Tata Motors reported 9,860 units in October 2022 for MHCV category, a growth of 29 percent, indicating an uptick in infrastructure development activities across the country, post monsoon season. In comparison, a total of 7,644 units were shipped during October 2021.
However, ILCV, which is an indicator of last mile connectivity, witnessed a slump of 27 percent to 4,083 units during October 2022 as against 5,599 units sold on a year-on-year basis. Likewise, the Small commercial vehicles cargo and pickup saw a degrowth of eight percent at 15,618 units during October 2022 compared to 17,025 in October 2021.
The passenger carrier segment, however, provided some solace, growing by 84 percent to 1,759 units when compared with 958 units during the comparable period.
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