Mumbai-based Tata Motors' domestic commercial vehicle wholesales dipped by 4 percent at 33,148 units in June 2023 as compared to similar period last year when it registered 34,409 units, with almost all the segments except for heavy commercial vehicle (HCV) and passenger carriers witnessing a fall.
As per the data released by the company on Saturday, the HCV segment registered 19 percent growth with 9,625 units sold during June 2023 as against 8,058 units sold during the month of June 2022. Intermediate, light and medium commercial vehicle (ILMCV) trucks on the other hand reported 4,723 sales- a decline of 19 percent as against 5,851 units in June 2022. Passenger carriers recorded 4,810 unit sales in June 2023 as against 3,868 units in June 2022, which is a gain of 24 percent. The small commercial vehicle (SCV) cargo and pickup registered a drop of 16 percent to 13,990 units when compared with 16,632 units in June 2022.
Girish Wagh, Executive Director, Tata Motors said, “Tata Motors Commercial Vehicles domestic sales at 82,225 in Q1 FY24 were 14.1 percent lower than Q1 FY23 sales while for the month of June '23, they were 20.2 percent higher than the vehicle sales registered in May '23. We successfully upgraded the entire vehicle portfolio during BS6 Phase 2 transition, beyond the mandatory requirements, to offer more features, value-adds and benefits to customers."
As per Wagh, the M&HCV growth was driven by the strong infrastructure push by the Government, as well as increased activity in e-commerce, construction, and replacement demand in the auto logistics and petroleum sector. "During the quarter, we started deliveries of electric buses, in accordance with the CESL tender mandate and expect to ramp up supplies in the coming months. Looking ahead, the promising monsoon and continuing infrastructure thrust by the Government auger well for the CV industry, even as it faces the headwinds of high interest rates, fuel prices and inflation.”