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Business News/ Companies / Tata Motors accelerates sales in February, registers 3% growth with 79,705 units

Tata Motors announced on Wednesday a three per cent YoY increase in total wholesale sales, reaching 79,705 units In February.

According to a statement by Tata Motors, the company's total vehicle sales in February 2023 increased by three per cent to 79,705 units compared to 77,733 units in the same period last year. The domestic vehicle sales also saw a growth of six per cent with 78,006 units sold last month, compared to 73,875 units in February 2022.

As per the automaker, the company's domestic sales of passenger vehicles, including electric vehicles, amounted to 43,140 units in February, compared to 40,181 units in the same period last year.

Moreover, the company added that it witnessed a decline of three per cent in total domestic sales of commercial vehicles, with sales dropping from 37,552 units in February 2022 to 36,565 units in the same month this year.

Meanwhile, Tata Motors has also agreed to supply 25,000 of its X-Pres-T electric sedans to ride-hailing giant Uber’s network of fleet partners in India’s largest order for electric vehicles. According to a top Tata Motors executive, the cars will be delivered over 12-15 months. He added that the order is more than twice as big as its 10,000-car deal with BluSmart last year.

Uber will partner with financiers and help medium and large-sized fleet operators on its platform to purchase these EVs by facilitating access to the vehicles in a supply-constrained environment. The EV rides will be offered in the premium category. It will also work with charge point operators to deploy fast chargers at airports and railway stations, as well as install home-charging solutions in low-income neighbourhoods or multi-housing units where driver partners typically reside.

“On our side, we have ramped up our capacity significantly by working with our suppliers to increase localization. There is a good level of fungibility when it comes to the capacity we use for manufacturing our EVs in the personal mobility segment and the fleet segment. If, for instance, we see a good level of stock building up for passenger EVs, we can dial down PVs and increase supplies of the Xpres-T EVs, and vice-versa," Shailesh Chandra, managing director of passenger vehicles and passenger electric mobility, Tata Motors said in an interview.

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Updated: 01 Mar 2023, 03:40 PM IST
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