Tata Motors recorded the highest ever quarterly and monthly retails in Q3 FY23 and the last month of the 2022 CY respectively
Tata Motors has announced its sales in the domestic and international market, for the third quarter of this financial year and it stands at 2,28,169 units compared to 1,99,634 units during the same period last FY. The PV and EV sales crossed a major milestone and last FY saw the brand setting new records including the highest-ever monthly sales.
The homegrown manufacturer outpaced the auto industry’s growth and crossed the milestone of 5 lakh units comfortably to post a wholesale of 5,26,798 units. The total volume in Q3 FY23 was one of the best quarters for the passenger vehicle sector with strong retail from new launches, good festive demand and an adequate supply of vehicles.
Speaking of the sales performance, Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “Going forward, we expect the growth momentum for EVs to remain strong with their rising popularity and the announcement of progressive policies by several states. Overall, we expect the PV industry to continue witnessing robust demand in the next quarter. We intend to remain vigilant and closely monitor any possible impact on the supply side due to rising COVID case globally”
Capitalising on the momentum, Tata Motors recorded the highest ever quarterly and monthly retails in Q3 FY23 and the last month of the 2022 CY respectively. In addition, Tata also got past 50,000 unit monthly sales for the first time. The wholesale numbers stood at 1,31,297 units in Q3 FY23 and when compared to the same period last FY, a YoY growth of 32.6 per cent was noted.
In December 2022, cumulative domestic sales of 40,043 units were registered with a YoY growth of 13.4 per cent as the SUV range contributed to two-thirds of the volume. Furthermore, the electric vehicle portfolio consisting of Tata Nexon EV and Tigor EV contributed to the highest-ever sales in Q3 FY23 at 12,596 units.
This led to YoY growth of 116.2 per cent besides helping to cross the landmark cumulative sales milestone of 50,000 units. Recently, Tata launched its most affordable EV in the form of Tiago.ev and it has been well received judging by the booking tally. The deliveries of the electrified hatchback will start this month.