With average monthly sales of 44,963 units, Tata Motors is just 5,404 units shy of the 500,000-unit milestone in the domestic market in FY2023.
Tata Motors is just 5,404 units away from surpassing the 500,000-unit sales milestone in the ongoing fiscal year 2023. The carmaker reported sales of 42,862 units in February 2023, up 7% year on year (February 2022: 39,981 units). This takes its 11-month cumulative sales to 494,596 units, which constitutes 51% YoY growth (see data table below).
Clearly, Tata Motors, which achieved its highest-ever sales for a calendar year in 2022 with 526,798 units and 50% year-on-year growth, is continuing its accelerated run in 2023 and the monthly average sales of 44,963 units reflects that.
The company, which retails seven passenger vehicles – Altroz, Tigor, Tiago, Nexon, Punch, Harrier and the Safari – in the domestic market, has capitalised on surging demand for its SUVs, particularly the Nexon and the Punch which are currently the best-selling and the No. 4 SUVs in the Indian market.
Where Tata Motors continues to have a strong market advantage is the fast-growing electric vehicle market, where it has a commanding 80% share. With all of four products – Nexon EV, Tigor EV and Xpres-T (for fleet buyers) and the sub-Rs 10 lakh Tiago EV – the company is driving home the gains. Last month, the company, which has received over 20,000 bookings for the all-electric hatchback, began Tiago EV deliveries with the first batch of 2,000 units going home to customers across 133 cities in India on February 3.
Key highlights for the carmaker last month included the introduction of its BS6 Phase II range of PVs with RDE (Real Driving Emissions) and E20-compliant engines. The move comes ahead of the new set of emission norms kicking in from April 2023.
February also saw Tata Motors bag the largest single order for EVs yet in India – 25,000 X-Pres-T electric sedans to Uber . This will see the company assisting Uber in electrifying its services across Delhi-NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru and Ahmedabad. Deliveries to Uber fleet partners are to begin in a phased manner.
On February 22, in an effort to rev up demand for three key utility vehicles, Tata Motors launched the Red Dark Editions of the Nexon, Harrier and Safari.
Given the market momentum it is witnessing, the company is also getting future-ready with manufacturing capacity. On January 10, it completed acquisition of Ford India’s Sanand plant which unlocks an additional state of-the-art manufacturing capacity of 300,000 units per annum which is scalable to 420,000 units per annum.
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