Tata Motors has announced its annual sales numbers for FY 2023-24. The Pune-based automaker is a prominent name in both commercial and passenger vehicle segments. The company sold a total of 2,65,090 vehicles in Q4 FY 2023-24, compared to 2,51,822 units sold during Q4 FY 2022-23.
Total domestic sales for Tata Motors in the month of March 2024 stood at 90,822 units, a marginal 2% YoY growth from the previous year. Out of these, 50,110 units were from the PV segment. During the same period last year, Tata Motors sold 44,044 units of passenger vehicles which has resulted in a 14% YoY growth this month.
In Q4 FY24, Tata Motors sold 1,55,010 passenger vehicles as opposed to 1,35,654 units resulting in a 15% YoY growth. In Q4 FY 2024, Tata sold a total of 1,55,651 units in the PV segment which also resulted in a YoY growth of 15%. Only 187 units were shipped to overseas markets last month as opposed to 181 units exported in March 2023.
Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “Passenger vehicle sales in India are projected to set a record in FY24 with over 4.2 million units sold supported by strong growth in SUV sales.” He further added that SUVs are expected to surpass 50% of overall sales in FY24 vs 43% in FY23.
| Category | March’24 | March’23 | % change | Q4 FY24 | Q4 FY23 | % change |
| Total PV Domestic (includes EV) | 50,110 | 44,044 | 14% | 1,55,010 | 1,34,893 | 15% |
| PV IB | 187 | 181 | 3% | 641 | 761 | -16% |
| Total PV (includes EV) | 50,297 | 44,225 | 14% | 1,55,651 | 1,35,654 | 15% |
| EV (IB + Domestic) | 6,738 | 6,509 | 4% | 20,640 | 15,960 | 29% |
Chandra further added that EV and CNG segments are projected to post robust growth of 70% and 55%, respectively in FY24 vs FY23, on the back of multiple new launches, growing charging infrastructure and CNG stations, significantly lower operating costs and growing consciousness among customers to be environment friendly.
As of now, CNG and EV segment contribute 29% of the overall passenger vehicle segment of Tata Motors. While the CNG segment grew by 120% in the outgoing financial year, the EV segment of Tata shot up by 48%. A total of 73,833 electric cars were sold by Tata in FY2024.
