Tata Motors has announced factory despatches of 44,809 units of its passenger vehicle models, including EVs, in the month of September, thereby registering a 6 percent year-on-year (YoY) decline (September 2022: 47,654). The degrowth is primarily being attributed to the reduced production of its older Nexon and Nexon EV crossovers, to ensure a seamless transition to the majorly updated models which were introduced on September 14.
According to the company, the new Nexon and Nexon EV, which received a major midlife makeover, have received an overwhelming response from customers. "We had proactively reduced supplies of the outgoing models this quarter to enable a smooth transition to the new generation Nexon and Nexon.ev, which have received an overwhelming market response," Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, said in a statement.
The performance of the company in the second quarter - Q2 FY24 - was also robust with cumulative sales of 137,950 units between July and September 2023 (Q2 FY23: 142,325 / -2.7%). “Passenger vehicle sales remained strong in Q2 FY24, driven by new launches and pre-festive offtakes. Tata Motors posted quarterly sales of 1,38,939 cars and SUVs in Q2 FY24, including exports, and registered around 3% degrowth compared to Q2 FY23, which was also our best-ever sales quarter," Chandra said.
"Our EV business continues its strong momentum and has posted YoY growth of about 55 percent. In Q2 FY24, we extended our innovative twin-cylinder CNG offering to Tiago, Tigor and Punch, which have been received well by the market," he added.