Latest News | Tata Motors Posts 1 Pc Rise in Total Domestic Sales at 80,383 Units in June

New Delhi, Jul 1 (PTI) Tata Motors on Saturday reported a 1 per cent rise in total domestic sales at 80,383 units in June 2023 as against 79,606 units in the year-ago month.

Domestic passenger vehicle sales, including electric vehicles, were at 47,235 units as compared to 45,197 units in the same month a year ago, a growth of 5 per cent, Tata Motors said in a statement.

Also Read | UPSC IFS Result 2023: Union Public Service Commission Declares Indian Forest Service Final Exam Results at upsc.gov.in, Get Direct Link and Know Steps To Check Scores.

Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director Shailesh Chandra said the passenger vehicle industry in Q1 FY24 witnessed a robust demand driven by new launches, especially in the SUV segment and EVs.

"Tata Motors continued its growth trajectory registering quarterly sales of 1,40,450 units in Q1 FY24 and recording a growth of 8 per cent over Q1 FY23," he added.

Also Read | 2002 Gujarat Riots: Gujarat High Court Rejects Bail Plea of Activist Teesta Setalvad, Asks Her To Surrender Immediately.

In the EV segment, he said the company posted its "highest-ever quarterly sales of 19,346 in Q1 FY24, registering a growth of 105 per cent over Q1 FY23".

"This growth is driven by a strong market response to Tiago EV while demand for other EVs was sustained," Chandra said.

Going forward, he said, "We expect the demand to remain robust with the onset of the festive season in the second half of Q2FY24. The supply side situation remains stable."

On the commercial vehicles (CV) front, total sales were down 8 per cent at 34,314 units as compared to 37,265 units in June last year.

Domestic CV sales were down 4 per cent at 33,148 units as against 34,409 units in the year-ago month, the company said.

Tata Motors Ltd Executive Director Girish Wagh said the company's CV domestic sales in Q1 FY24 were at 82,225 units, 14.1 per cent lower than Q1 FY23 sales.

"Looking ahead, the promising monsoon and continuing infrastructure thrust by the government auger well for the CV industry, even as it faces the headwinds of high interest rates, fuel prices and inflation," Wagh said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)