Tata Motors registers total sales of 2,31,248 units in Q1 FY23, records 101% growth

Jamshedpur, July 1: Tata Motors Limited announced its sales in the domestic and international market, for Q1 FY23, which stood at 2,31,248 vehicles, compared to 1,14,784 units during Q1 FY22. 

The auto major has reported that its total sales in domestic and international grew by 101% over Q1FY22.

According to a press communique, company announced an 82 percent increase in total domestic sales to 79,606 units in June 2022. The homegrown auto major posted a total domestic sales of 43,704 units in the same month last year. Domestic passenger vehicle (PV) sales also grew 87 per cent to 45,197 units against 24,110 units in the year-ago month, it added.

In the commercial vehicle category, Tata Motors saw a 69 per cent growth at 37,265 units sold in June 2022 compared to 22,100 units sold in the same period last year. The company also exported 2,856 units, marking an 14 per cent YoY increase.

In the first quarter of 2022-23, PV sales were at 1,30,125 units compared to 64,386 units in the year-ago period. “Demand for passenger vehicles continued to stay strong in Q1 FY23 even as the supply side remained moderately impacted due to the lockdown in China.

Girish Wagh, Executive Director, Tata Motors Ltd. said, “Tata Motors Commercial Vehicles domestic sale in Q1 FY23 at 95,703 units was 121% higher than Q1 FY22 (a COVID impacted quarter) while being 13% lower than the previous quarter Q4 FY22. The growth in Q1 has been broad-based across regions and segments. The M&HCV and I&LCV segments grew by 104% and 138%, respectively, over the same quarter (Q1) last year on the back of increased activity in road construction, mining, and growth in agriculture and e-commerce. SCV demand from last-mile distribution has remained robust backed by continued consumer spending. CV Passenger saw a strong recovery, with a 57% increase over Q4 FY22, due to the opening of schools and replacement of staff buses. The International Business declined by 23% over Q1 FY22, majorly due to a drop in industry volume on account of the financial crisis in Sri Lanka and Nepal. Going ahead, we remain cautiously optimistic about overall demand while keeping a close watch on interest rates, transporter profitability, commodity prices and semiconductor availability”

Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “Demand for passenger vehicles continued to stay strong in Q1 FY23 even as the supply side remained moderately impacted due to the lockdown in China. Overcoming the challenges, Tata Motors posted record-breaking monthly sales (June’22) as well as quarterly sales (Q1 FY23). For the month of June’22, sales were highest ever at 45,197 units, registering a growth of 87% versus June’21. Quarterly sales for Q1 FY23, at 130,125 units, was also the highest ever, posting a growth of 102% versus Q1 FY22. Our SUV portfolio contributed 68% of Q1FY23 sales. Electric vehicle sales attained new heights with quarterly sales of 9,283 in Q1 FY23 and highest-ever monthly sales of 3,507 units in June’22. Nexon EV Max launched in May’22, has witnessed strong demand. Going forward, we expect the supply side, including that of critical electronic components to progressively improve. We will continue to keep a close watch on the evolving demand and supply situation and take appropriate actions.”