Mumbai, July 01, 2024.

Tata Motors Limited sales in the domestic & international market for Q1 FY 2024-25 stood at 229,891 vehicles, compared to 226,245 units during Q1FY 2023-24.

Domestic Sales Performance:

Commercial Vehicles:

Domestic sales of MH&ICV in June 2024, was 14,640 units vs 14,427 units in June 2023; In Q1 FY25 it was 40,349 units, compared to 35,188 units in Q1 FY24.

Domestic & International sales for MH&ICV in June 2024, was 15,224 units vs 14,770 units in June 2023; while in Q1 FY25 it stood at 41,974 units, vs 36,577 units in Q1 FY24.

Mr. Girish Wagh, Executive Director, Tata Motors Ltd. said,“Tata Motors Commercial Vehicles domestic sales at 87,615 units in Q1 FY25 were ~7% higher than Q1 FY24 sales. Additionally, sales in June 2024 were ~3% higher compared to May 2024.

The M&HCV segment led the growth with ~10% rise in Q1 FY25 sales volumes versus Q1 FY24. While HCV demand held up well, market sentiment remained positive in MCV segment with demand increasing in e-commerce, auto-aggregates and LPG segments. The CV passenger business continues with its robust post-pandemic recovery with school and staff transportation segments growing 39% during the quarter. Sales of small and light commercial vehicles declined by ~6% in Q1 FY25 compared to Q1 FY24, primarily due to financing challenges faced by ‘first-time users’ in this category.

Going forward, the forecast of a healthy monsoon, expectations of policy continuity and 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 our customers to success while vigilantly tracking relevant macro factors including geopolitical developments, interest rates, fuel prices and inflation.”

Passenger Vehicles:

Includes sales of Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, both subsidiaries of Tata Motors Limited.

Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd.said, “In Q1 FY25, after a boost in demand in the first half of April, due to festivities in some parts of country, the Passenger Vehicle industry saw a decline in retails (registrations) in the months of May and June, influenced by the general elections and heat waves across the country. Tata Motors wholesales of 138,682 cars and SUVs in Q1 FY25 remained flat compared to Q1 FY24, as we readjusted our wholesales in line with retails to keep channel inventory under control.

The Electric Vehicle industry was affected by the broader industry trend and the impact of significant preponement fleet sales in Q4FY24, due to expiry of FAME II subsidy in March 2024. Consequently, while the personal segment retails have grown slightly, there was a sharp decline witnessed in the fleet segment, which is expected to recover in the coming quarters.

Going forward, we foresee recovery of demand, as enquiries have remained strong despite low retails in the past two months. This strong enquiry pipeline, in addition to onset of festive season from August, augurs well for the industry. Tata Motors is fully geared up to leverage this growth opportunity on the back of strong demand for its SUV portfolio, especially Punch and Nexon, as well as new launches in the coming months.”