Mumbai – Tata Motors Limited has maintained its growth trajectory, reporting total sales of 2,35,599 units in Q3 FY25, a slight increase over the 2,34,981 units sold during the same period last year. This performance highlights the company’s resilience amid evolving market dynamics across its commercial and passenger vehicle segments.
Commercial Vehicles: A Mixed Bag of Challenges and Opportunities
In Q3 FY25, Tata Motors’ commercial vehicle (CV) segment recorded domestic sales of 91,260 units, representing a marginal year-on-year (YoY) decline of 1%. However, the company showcased a remarkable recovery compared to the 19% YoY decline observed in Q2 FY25.
- Key Highlights in CVs:
- Heavy Commercial Vehicles (HCVs): Witnessed robust quarter-on-quarter (QoQ) growth, propelled by post-monsoon construction and mining activities, despite a 9% YoY decline due to limited growth in end-use segments.
- Intermediate & Light Commercial Vehicles (ILMCVs): Achieved a 3% YoY growth, maintaining their upward momentum.
- Passenger Carriers: Reported a stellar 30% YoY sales increase, driven by strong demand from State Transport Undertakings and the travel sector.
- Small & Light Commercial Vehicles: Experienced a slight 2% YoY decline, impacted by financing hurdles for first-time users and rental customers.
Girish Wagh, Executive Director of Tata Motors Ltd., commented, “The HCV segment has shown sequential growth due to improved demand post-monsoon and festive activity. We anticipate further improvements in Q4 FY25, supported by the government’s infrastructure push and a resurgence in end-use sectors.”
Passenger Vehicles: Consistent Growth and EV Momentum
The passenger vehicle (PV) segment continued its strong performance, with Q3 FY25 wholesales reaching 1,39,829 units, reflecting a 1% YoY growth. Retail sales showed an even more pronounced increase, up 6% from Q3 FY24, driven by festive season demand and innovative product offerings.
- Key Highlights in PVs:
- SUV Portfolio: Grew 19% YoY in CY24, led by models like Punch, which sold over 200,000 units, becoming India’s best-selling car in CY24.
- CNG Vehicles: Recorded a significant 77% growth, with over 120,000 units sold.
- Electric Vehicles (EVs): Achieved 19% YoY growth in the personal segment, despite a dip in fleet volumes due to the expiration of the FAME II subsidy.
“Tata Motors achieved its fourth consecutive year of record-breaking sales in CY24, with 565,000 units sold,” stated Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. “Our success reflects our multi-powertrain strategy, which has resonated with diverse customer needs. With exciting launches like Curvv and Nexon CNG, we are well-positioned for another strong year in 2025.”
Outlook for 2025: Optimism Across Segments
Tata Motors remains confident about growth in Q4 FY25 and beyond, buoyed by the government’s infrastructure spending, a strong SUV market, and increasing adoption of sustainable powertrains.
As India’s automotive landscape evolves, Tata Motors’ strategic focus on innovation, multi-powertrain offerings, and market responsiveness positions it as a key player in shaping the future of mobility.
Domestic Sales Performance:
| Category | Dec’24 | Dec’23 | % Change | Q3 FY25 | Q3 FY24 | % Change |
| Total Domestic Sales | 76,599 | 76,138 | 1% | 2,30,684 | 2,29,610 | 0% |
Commercial Vehicles:
| Category | Dec’24 | Dec’23 | % Change | Q3 FY25 | Q3 FY24 | % Change |
| HCV Trucks | 9,520 | 11,199 | -15% | 27,130 | 29,656 | -9% |
| ILMCV Trucks | 5,687 | 5,675 | 0% | 15,897 | 15,411 | 3% |
| Passenger Carriers | 4,144 | 3,060 | 35% | 10,001 | 7,704 | 30% |
| SCV cargo and pickup | 13,018 | 12,734 | 2% | 38,232 | 38,964 | -2% |
| Total CV Domestic | 32,369 | 32,668 | -1% | 91,260 | 91,735 | -1% |
| CV IB | 1,506 | 1,512 | 0% | 4,510 | 4,791 | -6% |
| Total CV | 33,875 | 34,180 | -1% | 95,770 | 96,526 | -1% |
Passenger Vehicles:
| Category | Dec’24 | Dec’23 | % Change | Q3 FY25 | Q3 FY24 | % Change |
| Total PV Domestic (includes EV) | 44,230 | 43,470 | 2% | 1,39,424 | 1,37,875 | 1% |
| PV IB | 59 | 205 | -71% | 405 | 580 | -30% |
| Total PV (includes EV) | 44,289 | 43,675 | 1% | 1,39,829 | 1,38,455 | 1% |
| EV (IB + Domestic) | 5562 | 5,006 | 11% | 16,119 | 15,232 | 6% |
Includes sales of Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited, both subsidiaries of Tata Motors Limited.
