Tata Motors Limited today announced its sales in the domestic & international market, for Q3FY23, which stood at 2,28,169 units, compared to 1,99,634 units during Q3FY22.
Mr. Girish Wagh, Executive Director, Tata Motors Ltd. said, "Tata Motors commercial vehicles domestic sale in Q3FY23 at 91,704 units grew 1.3% over Q3FY22, while being 2% lower than those recorded in Q2FY23. Our continued focus on retail during the quarter resulted in retail sales surpassing wholesale by 13% in December'22, by 6.3% in Q3FY23, and reducing inventory as we transition towards BSVI phase-2 norms. The growth in Q3FY23, was led by stronger sales of MHCVs (+35% vs Q3FY22) and a robust recovery in passenger carriers demand (+84% vs Q3FY22). Improving fleet utilizations, pick up in road construction projects and increase in cement consumption catalysed the demand recovery for MHCVs. CV exports, however, remained subdued due to the prevailing economic situation in most overseas markets. Going forward, we expect a good replacement demand, especially in MHCVs in Q4 FY23, as we also maintain a close watch on the evolving geopolitical situation, inflation and interest rate risks on both the supply and demand."
Domestic sale of MH&ICV in Q3FY23, including trucks and buses, stood at 40,391 units, compared to 33,753 units in Q3FY22. Total sales for MH&ICV Domestic & International Business in Q3FY23, including trucks and buses, stood at 42,369 units, compared to 37,887 units in Q3FY22.
Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, "For Tata Motors passenger vehicles, CY22 has been a momentous year as we outpaced industry growth and crossed the distinctive milestone of 5 lakh units comfortably to post wholesale of 526,798 units. Last quarter (Q3FY23) was one of the best quarters for the PV industry with strong retails from new launches, robust festive demand, and adequate supply of vehicles. Tata Motors PV posted the highest ever quarterly and monthly retails in Q3FY23 and Dec'22, respectively. We also crossed the coveted 50,000 units of monthly retail for the first time. Wholesales recorded in Q3FY23 were of 131,297 units (growth of 32.6% vs Q3 FY22) and in Dec'22 of 40,043 units (growth of 13.4% vs Dec'21) with the popular SUV range continuing to contribute to two-third of the sales volumes. EVs posted their highest ever sales in Q3FY23 at 12,596 units (growth of 116.2%) and crossed the landmark cumulative sales milestone of 50,000 units. Tiago.ev received tremendous response, post the bookings opening during the quarter; deliveries to start in Jan'23. Going forward, we expect the growth momentum for EVs to remain strong with their rising popularity and the announcement of progressive policies by several states. Overall, we expect the PV industry to continue witnessing robust demand in the next quarter. We intend to remain vigilant and closely monitor any possible impact on the supply side due to rising COVID case globally."
Shares of Tata Motors Limited was last trading in BSE at Rs. 388.10 as compared to the previous close of Rs. 385.90. The total number of shares traded during the day was 717322 in over 20306 trades.
The stock hit an intraday high of Rs. 392.10 and intraday low of 387.05. The net turnover during the day was Rs. 279640173.00.