Tata Motors reported a 9% YoY decline in total sales for September 2024, with total passenger vehicle (PV) sales, including EVs, at 41,313 units as against 45,317 units sold in September 2023. The domestic PV segment, which includes electric vehicles, witnessed an 8% decline, with sales falling to 41,063 units from 44,809 units last year. Meanwhile, the PV International Business (IB) segment saw a sharp 51% decline in sales, with only 250 units sold in September 2024 as against 508 units in the same period last year.
Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “The PV industry witnessed a decline of over 5% in retail sales (vehicle registrations) in Q2 FY25 as compared to Q2 FY24, driven by slower consumer demand and seasonal factors. In contrast, industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in continued build-up of channel stocks. Further, electric vehicle sales in the personal segment were impacted by the end of registrations and road tax exemptions in key states. Fleet EV sales remained impacted due to the end of FAME II and non-inclusion of the fleet segment in the PM-eDRIVE scheme.
Tata Motors posted wholesales of 130,753 units in Q2 FY25, a decline of 6% as compared to Q2 FY24, as we adjusted wholesales to lower-than-expected retails to keep channel inventory under control. During the quarter, we rolled out the launch curve to our The response has been tremendous with strong bookings for all powertrains – petrol, diesel and electric. Initial deliveries of the Curve have begun, and we will continue to ramp up production in the third quarter. Our market interventions have been well received, leading to a strong pipeline. The launch of our high-end Nexon EV has also generated strong consumer interest. Registrations picked up towards the end of the month, which augurs well for the upcoming festive season and we are focused on driving consumer preference for our exciting range of vehicles while maintaining the health of our dealer network.”
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