Company Reports Mixed Performance in Passenger and Commercial Vehicle Segments
Mumbai, August 1, 2024: Tata Motors Limited reported total sales of 71,996 units in July 2024, marking a significant decrease from the 80,633 units sold in July 2023. This decline reflects the ongoing challenges faced by the automotive industry, including supply chain disruptions and changing market dynamics.
The company’s performance in the passenger vehicle (PV) segment saw a year-over-year decline of 6%, with total sales reaching 44,954 units in July 2024, down from the previous year’s figures. This reduction in sales can be attributed to several factors, including rising fuel prices and economic uncertainties that have impacted consumer purchasing power.
In the commercial vehicle (CV) segment, Tata Motors reported a more pronounced decrease. The total CV sales for July 2024 stood at 27,042 units, an 18% drop compared to July 2023. This decline highlights the challenges faced by the commercial vehicle industry, which has been grappling with fluctuating demand and stringent regulatory changes.
A closer look at the domestic sales of Medium and Heavy Commercial Vehicles (MH&ICV), which include trucks and buses, reveals a decline to 11,174 units in July 2024 from 13,291 units in the same month of the previous year. The combined domestic and international sales for MH&ICV also reflected a downturn, with 11,886 units sold in July 2024 compared to 13,830 units in July 2023.
Despite these setbacks, Tata Motors continues to focus on strategic initiatives to drive growth and enhance its market position. The company is investing in new technologies and expanding its product portfolio to meet evolving customer needs. Additionally, Tata Motors is strengthening its presence in international markets to mitigate domestic market fluctuations.
The overall decline in sales underscores the challenges facing the automotive sector, but Tata Motors remains committed to navigating these obstacles and achieving long-term growth. The company is optimistic about the future, with plans to leverage innovation and sustainability as key drivers of its business strategy.
As the industry continues to adapt to changing conditions, Tata Motors aims to maintain its resilience and competitiveness, ensuring that it remains a leading player in both the domestic and international markets.
Domestic Sales Performance:
| Category | July 2024 | July 2023 | % change(Y-o-Y) |
| Total Domestic Sales | 70,161 | 78,844 | -11% |
Commercial Vehicles:
| Category | July 2024 | July 2023 | Growth(Y-o-Y) |
| HCV Trucks | 6,493 | 8,502 | -24% |
| ILMCV Trucks | 4,341 | 4,899 | -11% |
| Passenger Carriers | 4,424 | 4,292 | 3% |
| SCV cargo and pickup | 10,178 | 13,523 | -25% |
| CV Domestic | 25,436 | 31,216 | -19% |
| CV IB | 1,606 | 1,728 | -7% |
| Total CV | 27,042 | 32,944 | -18% |
Passenger Vehicles:
| Category | July 2024 | July 2023 | Growth(Y-o-Y) |
| Total PV Domestic (includes EV) | 44,725 | 47,628 | -6% |
| PV IB | 229 | 61 | 275% |
| Total PV (includes EV) | 44,954 | 47,689 | -6% |
| EV (IB + Domestic) | 5,027 | 6,329 | -21% |
Includes sales of Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, both subsidiaries of Tata Motors Limited.
