Mumbai-based Tata Motor's domestic commercial vehicle wholesale slid by by 8 % to 30,623 units during June 2024, as compared to a similar period last year when it registered 33,148 units.
As per the data released by the company, HCV registered an 8% decline, with 8891 units sold during June 2024 as against 9625 units sold in May 2023. Intermediate, light, and medium commercial vehicle (ILMCV) trucks, on the other hand, reported 4997 unit sales in June 2024—a jump of 6% as against 4723 units in June 2023. Passenger carriers recorded 5654 unit sales in June 2024 as against 4810 units in June 2023, which is a gain of 18 %. The small commercial vehicle (SCV) cargo and pickup segment registered a steep drop of 21 % to 11,081 units in June 2024 when compared with 13,990 units in June 2023.
Girish Wagh, Executive Director, Tata Motors Ltd., said, "Going forward, the forecast of a healthy monsoon, expectations of policy continuity and a continuing thrust on infrastructure-related developmental projects by the government are expected to improve the demand for commercial vehicles."
"The demand in staff, intercity, and stage carriage segments should also remain healthy despite the seasonal dip often seen in school transportation in Q2. We continue to remain focused on partnering our customers to success while vigilantly tracking relevant macro factors, including geopolitical developments, interest rates, fuel prices, and inflation."