Tata Motors reported a 9% year-on-year decline in overall sales for September 2024, with total passenger vehicle (PV) sales, including EVs, standing at 41,313 units compared to 45,317 units sold in September 2023. The domestic PV segment, which includes electric vehicles, saw a drop of 8%, with sales reducing to 41,063 units from last year's 44,809 units. Meanwhile, sales in the PV international business (IB) segment fell sharply by 51%, with just 250 units sold in September 2024 as compared to 508 units in the same period last year.
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Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, "The PV industry in Q2 FY25 saw more than 5% decline in retails (Vahan registrations) compared to Q2 FY24 driven by slow consumer demand and seasonal factors. In contrast, industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in a continued buildup of channel stock. In addition, Electric Vehicle sales in personal segment was affected by the lapse of registration and road tax waivers in key states. Fleet EV sales continued to remain impacted due to lapse of FAME II and non-inclusion of the fleet segment in the PM-eDRIVE scheme.
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Tata Motors posted wholesales of 130,753 units in Q2 FY25, a decline of 6% compared to Q2 FY24, as we readjusted wholesales to lower-than-expected retails, to keep channel inventory under control. During the quarter, we launched the Curvv, which has received an excellent response with strong bookings for all its powertrains – etrol, diesel and electric. Initial deliveries of Curvv have commenced, and we will continue to ramp up production in Q3. Our market facing interventions have been well received, generating a strong pipeline. The launch of our higher range Nexon.ev has also generated strong consumer interest. Registrations picked up pace towards end of the month which augurs well for the festive period ahead and we remain focused on driving up consumer preference for our exciting range of vehicles while maintaining the health of our dealer network."
