04 Jul 2022
The Y-o-Y and M-o-M sales of Commercial vehicles increased by 63.75% and 9.93% respectively in the last month of 2nd quarter.
The powerful automaker of India, Tata Motors again paced up its sales numbers and recorded a growth of 63.75% in domestic sales and a 13.97% increase in the exports of commercial vehicles. The domestic sales of June last year were below 20,000 units, which stopped at 18,651, and touched 30,541 units this year. As a result, the MoM sales of the company also increased by 9.93%. The total M-o-M domestic sales of Tata Commercial Vehicles went up by 103.42%.
Category-wise, the sales numbers of M&HCV, I&LCV and SCV & Cargo Pickup have increased by 75%, 69% and 57%, respectively.The Y-o-Y Export sales increased by 57.85%, whereas the M-o-M sales was up by 14.43%. The overall increase in the sales of commercial vehicles counted 76% in the last month including all segments.
After presenting the sales data of Commercial Vehicles, Mr Girish Wagh, Executive Director, Tata Motors Ltd., said, “Tata Motors Commercial Vehicles domestic sale in Q1 FY23 at95,703 units was 121% higher than Q1 FY22 (a COVID impacted quarter) while being 13% lower than the previous quarter Q4 FY22. The growth in Q1 has been broad-based across regions and segments. The M&HCV and I&LCV segments grew by 104% and 138%, respectively, over the same quarter (Q1) last year on the back of increased activity in road construction, mining, and growth in agriculture and e-commerce. SCV demand from last-mile distribution has remained robust, backed by continued consumer spending. CV Passenger saw a strong recovery, with a 57% increase over Q4 FY22, due to the opening of schools and the replacement of staff buses. The International Business declined by 23% over Q1 FY22, majorly due to a drop in industry volume on account of the financial crisis in Sri Lanka and Nepal. Going ahead, we remain cautiously optimistic about overall demand while keeping a close watch on interest rates, transporter profitability, commodity prices and semiconductor availability.”
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