Auto Sales March 2024: Tata Motors Sees 14% Growth In Passenger Vehicle Sales

Tata Motors, the country’s third largest passenger carmaker today released the monthly sales numbers for March 2024. Last month, the home-grown automaker sold 50,297 passenger vehicles, witnessing a year-on-year growth of 14 per cent compared to 44,225 units sold in March 2023. While the domestic sales also grew 14 per cent from 44,044 units to 50,110 units, exports saw a 3 per cent rise from 181 units to 187 units, in March 2024.

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Domestic sales also grew 14 per cent from 44,044 units to 50,110 units in March 2024

As for the quarter that ended on March 31, between December 2023 and March 2024, Tata Motor’s total passenger vehicle sales stood at 1,55,651 units. Compared to 1,35,654 vehicles sold in Q4 FY2023, the company saw a growth of 15 per cent growth YoY. At the same time, `’ total sales for Financial Year 2023-24 was 5,73,495 units, a growth of 6 per cent compared to FY2023, during which the company sold 5,41,087 vehicles.

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Compared to 1,35,654 vehicles sold in Q4 FY2023, the company saw a growth of 15 per cent growth YoY

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “Passenger vehicle sales in India are projected to set a record in FY24 with over 4.2 million units sold supported by strong growth in SUV sales (SUVs expected to surpass 50% of overall sales in FY24 vs 43% in FY23) and rising popularity of emission-friendly powertrains. With sales of cars powered by traditional fuels (petrol and diesel) flattening, almost the entire incremental volume growth of FY24 is expected from rising sales of emission-friendly powertrains. EV and CNG segments are projected to post robust growth of 70 per cent and 55 per cent respectively in FY24 vs FY23, on the back of multiple new launches, growing charging infrastructure and CNG stations, significantly lower operating costs and growing consciousness among customers to be environment friendly.

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CV sales for the entire Fiscal Year fell 4 per cent to 3,95,845 units, compared to FY2023

In March 2024, Tata Motors, which is the country’s largest CV maker, sold 42,262 commercial vehicles witnessing a 10 per cent decline compared to March 2023. As for the Q4 FY2024 period, total sales stood at 1,09,439 units, a drop of 6 per cent as against Q4 FY2023. At the same time, CV sales for the entire Fiscal Year fell 4 per cent to 3,95,845 units, compared to FY2023.