Tata Motors Q3 total sales up by 14% to 2,28,169 units

The total domestic sales was up by 17.7 per cent year-on-year at 2,23,001 units as compared to 1,89,531 units.

The total commercial vehicle sale declined by 4.2 percent to 95,914 units. In the year-ago period it stood at 1,00,070.

Tata Motors said that total domestic commercial vehicle sale stood at 91,704 units. In the year ago period it was at 90,529. While, exports were down by 55.9 per cent at 4,210 units.

“Tata Motors commercial vehicles domestic sale in Q3FY23 at 91,704 units grew 1.3% over Q3FY22, while being 2% lower than those recorded in Q2FY23. Our continued focus on retail during the quarter resulted in retail sales surpassing wholesale by 13% in December’22, by 6.3% in Q3FY23, and reducing inventory as we transition towards BSVI phase-2 norms,” said Girish Wagh, Executive Director, Tata Motors

“The growth in Q3FY23, was led by stronger sales of MHCVs (+35% vs Q3FY22) and a robust recovery in passenger carriers demand (+84% vs Q3FY22). Improving fleet utilizations, pick up in road construction projects and increase in cement consumption catalysed the demand recovery for MHCVs. CV exports, however, remained subdued due to the prevailing economic situation in most overseas markets. Going forward, we expect a good replacement demand, especially in MHCVs in Q4 FY23, as we also maintain a close watch on the evolving geopolitical situation, inflation and interest rate risks on both the supply and demand.” he added.

The company’s passenger vehicle sale was up by 32.8 per cent at 1,32,255 units as compared to 99,564 units in the year-ago period.

“For Tata Motors passenger vehicles, CY22 has been a momentous year as we outpaced industry growth and crossed the distinctive milestone of 5 lakh units comfortably to post wholesale of 526,798 units. Last quarter (Q3FY23) was one of the best quarters for the PV industry with strong retails from new launches, robust festive demand, and adequate supply of vehicles. Tata Motors PV posted the highest ever quarterly and monthly retails in Q3FY23 and Dec’22, respectively. We also crossed the coveted 50,000 units of monthly retail for the first time,” said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd.