Tata Motors’ passenger vehicle division ended fiscal year 2022 on a good note. As previously reported by Autocar Professional on December 19, the manufacturer has achieved its best-ever year wholesales performance in CY2022: over 500,000 units.
The company just disclosed a December sales total of 40,043 units, bringing the 12-month calendar year total to 526,798 units, with an average monthly sales total of 43,899 units. The business, which sells seven PVs in the local market – Altroz, Tigor, Tiago, Nexon, Punch, Harrier, and the Safari – has capitalised on rising demand for its SUVs, particularly the Nexon and the Punch, which are currently the best-selling and fourth-best-selling SUVs in India.
Tata Motors’ quick expansion has also been aided by its first-mover advantage in the fast-growing electric car industry, where it controls more than 80% of the market. The Nexon EV, Tigor EV, and Xpres-T (for fleet buyers) are presently available, while the Tiago EV, which will be available in January, was recently unveiled. According to Autocar Professional, Tata Motors sold 41,538 EVs in CY2022, accounting for 7.88% of the company’s total sales of 526,798 units. The company has grown by 59% year on year.
In the company’s official statement, Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility said, “For Tata Motors passenger vehicles, CY22 has been a momentous year as we outpaced industry growth and crossed the distinctive milestone of 500,000 units comfortably to post wholesales of 526,798 units. Last quarter (Q3 FY23) 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 Q3 FY23 and December 2022, respectively. We also crossed the coveted 50,000 units of monthly retail for the first time.
He added, “Wholesales recorded in Q3 FY23 were of 131,297 units (growth of 32.6% vs Q3 FY22) and in December 22 of 40,043 units (growth of 13.4% vs December 2021) with the popular SUV range continuing to contribute to two-third of the sales volumes. EVs posted their highest ever sales in Q3 FY23 at 12,596 units (growth of 116.2%) and crossed the landmark cumulative sales milestone of 50,000 units. The Tiago.ev received a tremendous response post the bookings opening during the quarter; deliveries are to start in Jan 2023. 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 cases globally.”
Tata Motors is also on track to meet its FY2023 sales target of 500,000 vehicles, including 50,000 EVs, with nine months remaining in the fiscal year.
From April to December 2022, it sold a total of 403,747 units, including an anticipated 32,443 EVs. The recently unveiled Tiago EV, India’s first sub-Rs 10 lakh electric vehicle, might offer the charge starting in January 2023, when sales are scheduled to begin. With the XPres-T electric sedan, which has received orders for 23,000 units for Rs 3,000 crore, the manufacturer is also reaping significant benefits from sales to fleet operators.
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