Tata Motors has reported a strong sales performance for March 2024, with a total of 50,297 passenger vehicles sold, including 6,738 electric vehicles (EVs). This represents a growth of 6,072 units compared to March 2023, when the company sold 44,225 vehicles, of which 6,509 were EVs.
Highlights of March 2024 Sales
- Total Sales: Tata Motors sold 50,297 passenger vehicles in March 2024.
- Electric Vehicle Sales: The company sold 6,738 EVs during the month.
- Growth Trend: There was an increase of 6,072 units in total passenger vehicle sales compared to March 2023.
FY24 Performance
- Q4 FY24 Sales: Tata Motors' total domestic sales reached 155,010 units in Q4 FY24, surpassing the previous year's Q4 sales of 134,893 units.
- Annual Sales: For FY24, the company reported total domestic passenger vehicle sales of 570,955 units, compared to 538,640 units in FY23.
Market Trends and Projections
- SUV Sales: Tata Motors projects that SUVs will constitute over 50% of the overall sales volume in the passenger vehicle segment for FY24.
- Record Sales: FY24 marks the third consecutive year of record sales for Tata Motors.
Growth in CNG and EVs
- CNG and EV Contribution: Nearly 29% of Tata Motors' overall sales in FY24 were from vehicles powered by CNG and EVs.
- EV Growth: The company reported a 48% growth in EV sales compared to FY23.
Q4 FY24 Milestones:
- Highest Wholesales: Tata Motors achieved its highest ever wholesales in Q4 FY24, with 155,651 units sold.
- Record EV Sales: The company sold the highest number of EVs in a quarter, with 20,640 units sold in Q4 FY24.
March 2024 Milestone
- 50,000 Units Milestone: Tata Motors crossed sales of 50,000 units for the third consecutive month in March 2024.
Tata Motors' sales performance in March 2024 and the financial year 2024 highlights the company's strong position in the Indian automotive market, particularly in the SUV and electric vehicle segments. The company's focus on multi-powertrain options is catering to diverse consumer preferences and driving growth in sales.