Tata Motors Q4 sales at 2.52 lakh units, 3% higher than FY22
1 min read 01 Apr 2023, 03:58 PM ISTThe company's four SUV models, Nexon, Punch, Harrier, and Safari, recorded their highest ever annual sales, contributing 66% of the total volume
PremiumTata Motors Limited has reported total sales of 2,51,822 vehicles in the fourth quarter of FY23, representing a 3% increase from the same quarter in the previous year.
The domestic sales of medium and heavy commercial vehicles (MH&ICV), including trucks and buses, stood at 54,435 units, compared to 40,391 units in Q4 FY22.
The growth was driven by the strong demand for heavy trucks for infrastructure projects, e-commerce, construction, and mining. Additionally, the replacement demand, advance buying before price hikes, and year-end buying to claim depreciation benefits further boosted demand towards the end of the quarter.
Girish Wagh, Executive Director, Tata Motors Ltd. said, “Tata Motors commercial vehicle domestic sales in Q4 FY23 at 1,12,145 units was 22% higher than the previous quarter (Q3 FY23) and ~2% higher than the same quarter, last year (Q4 FY22)."
He further pointed out, “With the new BSVI phase II starting from April 2023, we have used the opportunity to significantly enhance key attributes of our entire portfolio while complying with the emission norms. Our commercial vehicles will now deliver even better performance enabled by smarter technologies and enhanced features."
Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “FY23 has set a new record for passenger vehicle sales in India. The steep growth witnessed by the industry was driven by post COVID pent up demand in early part of the year, the launch of several new vehicles and easing of the semiconductor shortage. While SUVs and EVs led this growth, customers’ rising preference for safe vehicles and smart technology features was equally pronounced."
The company's four SUV models, Nexon, Punch, Harrier, and Safari, recorded their highest ever annual sales, contributing 66% of the total volume. Tata Motors crossed the significant landmark of 50,000 EV sales in FY23, recording a significant growth of 154% over FY22. The company's EV penetration in its portfolio continued to increase from ~7% in Q1FY23 to ~12% in Q4FY23.
The management, however, remains vigilant, monitoring the supply situation, particularly semiconductors, and any potential waves of Covid.
