Tata Motors has once again secured its position as the second top-selling automaker in India in February 2024, demonstrating an impressive 19.6% year-on-year (YoY) growth with a 13.6% market share. The three leading automakers, Maruti, Tata, and Hyundai, have all shown strong sales growth, each surpassing the 50,000-unit mark. With new product launches and feature improvements on the horizon, sales are expected to rise further in the coming months.
Impressive Sales Figures for Tata Motors
In February 2024, Tata Motors' sales reached 51,270 units, marking a 20% YoY increase from 42,865 units sold in February 2023. However, there was a slight 4% month-on-month (MoM) decline from 53,635 units sold in January 2024. The increased sales in February 2024 boosted Tata's market share to 13.7%, up from 12.8% on a YoY basis.
Tata Punch: Leading the SUV Segment
The Tata Punch emerged as the company's best-selling model, with sales soaring by 65% YoY to 18,438 units in February 2024, up from 11,169 units in February 2023. It also experienced a 3% YoY growth from 17,978 units sold in January 2024. The Tata Punch claimed the title of the No. 1 selling SUV in India, outperforming rivals like the Maruti Brezza and Hyundai Creta by approximately 3,000 units. The recently launched Tata Punch EV is set to dominate the electric vehicle (EV) segment with its attractive price point.
Other Popular Models and EV Success
The Tata Nexon followed in second place with 14,395 units sold in February 2024, showing a 3% YoY growth but a 16% MoM decline. Tata Motors has added excitement to its portfolio with the introduction of Dark Editions for the Nexon EV, Harrier, and Safari.
The Tata Tiago hatchback, available in petrol and EV variants, retained its No. 3 position despite a 7% YoY decline in sales to 6,947 units last month. However, it saw a 7% MoM growth from 6,482 units sold in January 2024. The Tata Altroz, another hatchback, was the fourth best-selling model with a 15% YoY growth in sales to 4,568 units in February 2024.
Tata Safari and Harrier: Strong Performers
The Tata Safari experienced a significant 112% YoY growth to 2,648 units in February 2024, while the Tata Harrier sold 2,562 units, marking a 25% YoY growth but a 2% MoM decline. The Tata Tigor saw a 44% YoY decline in sales to 1,712 units last month but an 11% MoM improvement from January 2024.
Future Outlook for Tata Motors
Tata Motors' strong electric vehicle lineup, including the Punch EV and Nexon EV facelift, has contributed to its sales success. The company's regular offerings, such as the Punch and Nexon ICE models, continue to attract buyers and frequently appear on the top 10 sales lists each month. With hefty discounts offered by Tata Motors throughout March 2024, sales are expected to surge even further.