• Total domestic sales at 2,23,001 units, up 17.7 percent year-on-year as against 1,89,531 units
Carmaker Tata Motors on Sunday said total sales in the December quarter grew by 14 per cent to 2,28,169 units. The company had registered 1,99,634 units in the same quarter of the previous financial year.
Total domestic sales grew by 17.7 per cent year-on-year at 2,23,001 units as against 1,89,531 units.
Total commercial vehicle sales declined by 4.2 percent to 95,914 units. It was 1,00,070 in the year-ago period.
Tata Motors said that total domestic commercial vehicle sales stood at 91,704 units. It stood at 90,529 in the year-ago period. Whereas, exports declined by 55.9 percent to 4,210 units.
"Domestic sales of Tata Motors commercial vehicles stood at 91,704 units in Q3FY23, a growth of 1.3% over Q3FY22, while down 2% over that recorded in Q2FY23. Our continued focus on retail during the quarter resulted in Sales grew by over 13% in Dec'22. A reduction of 6.3% in Q3 FY2023, and reducing inventory as we move towards BSVI Stage-II norms," said Girish Wagh, Executive Director, Tata Motors he said
“The growth in Q3FY23 was driven by strong sales of MHCVs (+35% vs Q3FY22) and a strong recovery in passenger carrier demand (+84% vs Q3FY22). Improvement in fleet utilisation, acceleration in road construction projects and growth in cement Consumption catalysed the recovery in demand for MHCVs. CV exports, however, remained weak due to the prevailing economic situation in most overseas markets. Going forward, we expect a good replacement demand, especially for MHCVs in Q4 FY23 As we also keep a close watch on the evolving geopolitical situation, inflation and interest rate risks on both supply and demand." she added.
The company's passenger vehicle sales grew 32.8 per cent to 1,32,255 units as compared to 99,564 units in the year-ago period.
“For Tata Motors Passenger Vehicles, Calendar Year 22 has been a momentous year as we have outpaced industry growth and comfortably crossed the 5 lakh units milestone to post a wholesale of 526,798 units Is. The previous quarter (Q3FY23) was one of the best quarters for the PV industry with strong retail sales driven by new launches, strong festive demand and adequate supply of vehicles. Tata Motors PV posted highest ever quarterly and monthly retails in Q3FY23 and Dec'22 respectively. We have also crossed the coveted 50,000 units of monthly retail for the first time,” said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd.
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