Tata Motors reports 2% YoY growth in December 2024 PV domestic wholesales

Tata Motors' domestic passenger vehicles (including electric vehicles) wholesale reached 44,230 units in December 2024, translating into a 2% jump compared to 43,470 units in December 2023.

Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd., said, "The PV industry posted moderate growth in CY24 and is expected to touch a sales volume of 4.3 million units, with strong growth in the SUV segment and sustained traction for emission-friendly powertrains. In Q3 FY25, the industry saw a strong revival, driven by increased retails in the festive season."

For Tata Motors, CY24 marked the fourth consecutive year of highest-ever annual sales with 565,000 units sold. The auto major registered strong growth in its SUV portfolio with successful product introductions built on its proven multi-powertrain strategy. CNG volumes grew substantially by 77%, with over 120,000 CNG vehicles sold in CY24.

SUV volumes grew a robust 19%, with Punch selling over 200,000 units to emerge as the highest-selling car model in India in CY24. As per company records, in Q3FY25, Tata Motors recorded wholesales of 139,829 units (1% growth vs Q3FY24) and retail sales growth of 6% over Q3FY24. "New product launches, including Curvv, Curvv.ev, Nexon CNG, and Nexon.ev 45, have been well received."

"In EVs, we recorded 16,119 units of wholesales, recording 19% growth in the domestic personal segment, while fleet volumes declined due to the expiry of the FAME II subsidy," Chandra highlighted.

Looking ahead, the top executive remained optimistic about the PV industry outlook. "With multiple product launches, innovations, and a strengthened multi-powertrain strategy, Tata Motors is well poised for further growth in CY2025," Chandra concluded.