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Posted On : 02 January, 2023
Tata Motors Commercial Vehicles Sales Figure 2022 In December Month Observed the Highest Hike of 95.2% in Passenger Carriers in Domestic Market.
Recently, Tata Motors released its Commercial Vehicle Sales Data for the month of December 2022. Tata has become a familiar name across the country, especially in the commercial vehicle market. This company has set a standard to deliver quality-wise top CV products. In the Total CV Domestic Section, this brand witnessed a sales growth of 6.3%, with sales of 32,954 units in December 2022 as compared to the sales of 31,008 units in December 2021.
Let’s visit the Tata Motors Truck Sales Data 2022 for December.
M&HCV:- Within the medium & heavy commercial vehicles category, Tata Motors holds a good position with the experience of gaining 34.3% sales growth in the domestic market. The brand registered sales of 10,885 M&HCV vehicles in December 2022 compared to 8,106 units in December 2021.
I&LCV:- Within the intermediate and light commercial vehicles category, Tata Motors observed a downfall of 11.3% in India, as highlighted in its Truck Sales Report December 2022. Tata Motors faced sales of 4,548 units in December 2022 as compared to 5,130 units in December 2021.
Passenger Carriers:- As per the Tata CV Sales figure 2022 for December month, Passenger Carriers observed a boom in its sales volume with a growth of 95.2%. The company sold 2,694 passenger carriers in December 2022 compared to 1,380 units in December 2021.
SCV Cargo & Pickup:- Within the small commercial vehicle cargo and pickup category, the brand faced a slight decline of 9.5% in its Truck Sales in India. According to Truck Sales Statistics 2022, Tata Motors sold 14,827 units in December 2022 as compared to 16,392 units in December 2021.
Export CV Sales Report December 2022 of Tata Motors reveals that the brand sold 995 CV units in December 2022, with a sharp decrease of 68.3% as it sold 3,143 CV units in December 2021.
Tata Motors Truck Sales Report December 2022, including sales data of domestic and export, highlighted a slight decline of 0.6% overall, with the company selling 33,949 units in December 2022 as compared to 34,151 CV units sold in December month 2021. The company highlighted 1.3% domestic sales growth in the third quarter of FY 2023 as compared to Quarter 3 of FY 2022.
Mr. Girish Wagh, Executive Director of Tata Motors Ltd. cited, “Tata Motors CV domestic sale in Quarter 3 FY23 at 91,704 units grew 1.3% over Quarter 3 FY22 while being 2% lower than those registered in Quarter 2 FY23. Our continued focus on retail sales during the quarter resulted in the retail sales surpassing wholesale by 13% in December 2022, by 6.3% in Q3 FY23, and reducing inventory as we transition towards BS6 phase 2 norms. The growth in Q3 FY23 was led by stronger sales of MHCV units (+35% vs Q3 FY22) and a robust recovery in passenger carriers demand (+84% vs Q3 FY22). Improving fleet utilization, pick up in road construction projects and increase in cement consumption catalyzed the demand recovery for MHCV units. Commercial Vehicle exports, however, remained subdued due to the prevailing economic condition in the most overseas CV markets. Going forward, we expect a better replacement demand, especially in MHCV category in Q4FY23, as we also maintain a close monitor on the evolving geo-political situation, inflation and interest rate risks on both the supply and demand.”
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