Sales decline across both commercial and passenger vehicle segments as industry faces headwinds
Mumbai, September 1, 2024: Tata Motors Limited announced a total sales figure of 71,693 vehicles for August 2024, reflecting a 7.5% decline from the 78,010 units sold in the same month last year. The downturn was driven by a significant drop in commercial vehicle (CV) sales, which saw a 15% year-on-year (YoY) decrease, and a more modest 3% reduction in passenger vehicle (PV) sales.
The company’s total CV sales, encompassing both domestic and international markets, stood at 27,207 units, compared to 31,916 units in August 2023. This decline was particularly pronounced in the Medium & Heavy Commercial Vehicle (MH&ICV) segment, where domestic sales fell to 12,008 units, down from 13,506 units the previous year. When including international business, MH&ICV sales reached 12,708 units, a decrease from 14,016 units in August 2023.
Passenger vehicles also faced a challenging month, with total sales of 44,486 units, a slight drop from 45,487 units in August 2023. The company attributed these figures to ongoing market volatility and supply chain disruptions affecting production schedules.
Tata Motors continues to navigate these challenges, aiming to bolster its portfolio with new launches and innovations to regain momentum in the coming months.
Domestic Sales Performance:
| Category | August 2024 | August 2023 | % change(Y-o-Y) |
| Total Domestic Sales | 70,006 | 76,261 | -8% |
- Commercial Vehicles:
| Category | August 2024 | August 2023 | Growth(Y-o-Y) |
| HCV Trucks | 7,116 | 9,000 | -21% |
| ILMCV Trucks | 4,965 | 5,207 | -5% |
| Passenger Carriers | 3,410 | 2,986 | 14% |
| SCV cargo and pickup | 10,373 | 13,555 | -23% |
| CV Domestic | 25,864 | 30,748 | -16% |
| CV IB | 1,343 | 1,329 | 1% |
| Total CV | 27,207 | 32,077 | -15% |
Passenger Vehicles:
| Category | August 2024 | August 2023 | Growth(Y-o-Y) |
| Total PV Domestic (includes EV) | 44,142 | 45,513 | -3% |
| PV IB | 344 | 420 | -18% |
| Total PV (includes EV) | 44,486 | 45,933 | -3% |
| EV (IB + Domestic) | 5,935 | 6,236 | -5% |
Includes sales of Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, both subsidiaries of Tata Motors Limited.
