03 Apr 2023
Tata Motors truck sales report March 2023 witnessed the highest growth in the passenger carriers segment with 47% in truck sales in India.
Tata Motors has released the sales report for March 2023. Tata is one of the most popular brands in the commercial vehicle market in India. Also, the brand has a good reputation in the automobile sector because of its high-value products. In the March truck sales figures 2023 in the domestic market, the brand sold 45,307 CV units, with a 2% hike compared to the 44,425 units of March 2022. And, in the export sales, the brand sold 1,516 units, with a decline of 42% against the 2,625 units of March last year.
Executive Director of Tata Motors, Mr Girish Wagh, said, “Tata Motors commercial vehicle domestic sales in Q4 FY23 at 1,12,145 units was 22% higher than the previous quarter (Q3 FY23) and ~2% higher than the same quarter, last year (Q4 FY22). This growth was driven by the robust demand for heavy trucks required to service the strong infrastructure push by the Government, plus increased activity in e-commerce, construction, and mining.
Higher replacement demand, advance buying in anticipation of price hikes, and year-end buying to claim depreciation benefits further buoyed the demand towards the end of the quarter. As a result, M&HCVs grew by over 33% vs Q3 FY23, while being 18% ahead of Q4 FY22. However, the demand for small and light commercial vehicles continued to be impacted due to high-interest rates and high base effect. Overall, Tata Motors CV domestic business grew ~22 % in FY23 vs FY22.
Category Wise Tata Motors Sales Report March 2023
Let’s look at the Truck sales data of Tata Motors for March.
M&HCV (Medium & Heavy Commercial Vehicle):- In this category, the brand registered a good hike of 10% with 15,963 sold units compared to the 14,499 units of March 2022.
I&LCV (Intermediate & Light Commercial Vehicle):- In the Intermediate and Light commercial vehicle segment, the brand noted a downfall in sales. They completed the month with 6,570 units, a decline of 13% against the 7,555 units of last year in March.
Passenger Carriers:- The passenger carriers segment recorded the highest growth in this month’s sales report. This segment sold 3,973 units in March 2023 and closed at 2,703 units in the same month last year. As a result, the brand registered a growth of 47% in domestic sales.
SCV Cargo and Pickup:- Within the category, the sales went down for the company. The brand sold 18,801 SCV cargo and pickups in March 2023, whereas the figure was 19,668 units in March 2022. Hence, they recorded a decline of 4% in the domestic market.
The overall truck sales statistics 2023 March for the brand, including domestic and export sales, witnessed not any significant changes. They sold 47,050 units of CV last year, which closed at 46,823 units in March 2023.
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