Tata Motors sales grows by 14% yoy in quarter ending in December, CV exports drop by 55.9%

Tata Motors on Sunday, through an exchange filing, announced that the sales of vehicles, including those for the domestic and international markets, for the third quarter of this financial year stood at 2,28,169 units, up by 14% from the 1,99,634 units it sold in the same period the previous year.

The domestic sales in December stood at 72,997 units, up by 10 per cent from their earlier level of 66,307 units in December 2021, while the quarterly sales jumped by 17.7 per cent to 2,23,001 units sold.

Commercial vehicle sales

The domestic sales of commercial vehicles jumped by 6.3 per cent to 31,954 units compared with 31,008 units sold in the same month last year. The quarterly sales of domestic commercial vehicles went up by 1.3 per cent to 91,704 units.

Though the company saw a jump in the sales of domestic commercial vehicles, the exports saw a severe drop of 68.3 per cent. The number of commercial vehicles exported in December this financial year stood at 995 units in comparison to 3,143 units exported in the same period last year.

Export of commercial vehicles

The quarterly numbers indicate a 55.9 per cent drop in the number of commercial vehicles exported.

Talking about the decline in exports, Mr. Girish Wagh, Executive Director, Tata Motors Ltd. said, "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.”

Passenger vehicles

The total sales of passenger vehicles, including EVs, in the month of December were at 40,407 units, up 13.9 per cent from 35,462 units in December 2021. The company recorded the highest ever monthly and quarterly sales, and it also crossed the converted 50,000 units for monthly sales for the first time.

The share of Tata Motors on Friday closed at Rs 388 up by 0.54 per cent.

Published on: Sunday, January 01, 2023, 02:59 PM IST