Tata Motors domestic wholesale CV witness marginal YoY drop to 32,369 units in December 2024

Mumbai-based Tata Motors' domestic commercial vehicle wholesale witnessed a marginal slide to 32,369 units during December 2024, translating into a 1% drop compared to the same period last year when it registered 32,668 units.

As per company data, HCV registered a 15% decline, with 9,520 units sold during December 2024 compared to 11,199 units in December 2023. Intermediate, light, and medium commercial vehicle (ILMCV) trucks reported 5,687 unit sales in December 2024—nearly flat compared to 5,675 units in December 2023.

Passenger carriers recorded 4,144 unit sales in December 2024 compared to 3,060 units in December 2023, a 35% gain.

The small commercial vehicle (SCV) cargo and pickup segment registered a 2% jump to 13,018 units in December 2024 compared to 12,734 units in December 2023.

Domestic sales of MH&ICV in December 2024, including trucks and buses, stood at 15,968 units, compared to 16,851 units in December 2023.

Girish Wagh, Executive Director, Tata Motors Ltd., said, "Tata Motors Commercial Vehicles registered domestic sales of 91,260 units in Q3 FY25, witnessing a marginal year-on-year (YoY) decline of 1% over Q3 FY24 and marking a significant improvement over the 19% YoY decline in sales recorded in Q2 FY25. Further, sales in December 2024 were 24% higher than those recorded in November 2024."

Wagh added that, propelled by post-monsoon resurgence in construction and mining activities plus festive season demand, the HCV segment witnessed robust sequential quarter-on-quarter (QoQ) growth in sales during Q3 FY25, even as YoY sales declined 9% due to limited growth in end-use segments. The ILMCV segment witnessed 3% YoY growth, driven by strong demand, with the MCV segment continuing its robust growth trajectory to record a 40% YoY increase during Q3 FY25.

Wagh explained that the passenger carrier segment continued its strong momentum, witnessing 30% YoY sales growth in Q3 FY25, with healthy demand from state transport undertakings (STUs) and the staff/tour & travel segments. Small and light commercial vehicle sales experienced a marginal YoY decline of 2% in Q3 FY25, primarily due to ongoing financing challenges faced by first-time users and rental customers in this category.

"Looking ahead, we expect demand to improve in Q4 FY25 across most segments of the CV industry. The key aspects to watch out for in 2025 will be the government's focus on infrastructure spend and growth in end-use segments, which will augur well for the commercial vehicle industry," Wagh concluded.