Tata Motors' wholesales slide by 18% YoY to 27,042 units in July 2024

Mumbai-based Tata Motors' domestic commercial vehicle wholesales slid by 18% to 27,042 units during July  2024, as compared to a similar period last year when it registered 32,944 units.

 As per the data released by the company, HCVs (heavy commercial vehicles) registered a 24% decline, with 6493 units sold during July 2024, as against 8502 units sold during July 2023. Intermediate, light, and medium commercial vehicle (ILMCV) trucks, on the other hand, reported 4341 unit sales in July  2024—a drop of 11% as against 4899 units in July 2023. 

Passenger carriers recorded 4424 unit sales in July 2024 as against 4292 units in July 2023, which is a gain of 3%. 

The small commercial vehicle (SCV) cargo and pickup segment registered a steep drop of 25% to 10,178 units in July 2024, compared with 13,523 units in July  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 infra-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 with our customers to success while vigilantly tracking relevant macro factors, including geopolitical developments, interest rates, fuel prices, and inflation."