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Tata Motors, India’s leading automobile company has reported its monthly sales for October 2024. The company reported a marginal change in sales for both domestic and international sales for October, with 82,682 units sold compared to 82,954 units in the same period last year. The company saw a marginal increase in total domestic sales, achieving 80,839 units against 80,825 units in October 2023.
The company exported 4,843 units in October 2024 corresponding to 2,129 units in the same month last year. Tata Motors said its total commercial vehicle sales last month stood at 34,259 units, down from 34,317 units in October 2023.
PV sales
The total passenger vehicle (PV) sales, including electric vehicles, experienced a minor dip, falling to 48,423 units from 48,637 units the previous year. Domestic PV sales specifically decreased to 48,131 units from 48,337 units in October last year.
“Total commercial vehicle sales stood at 34,259 units last month, down from 34,317 units in October 2022,” Tata Motors noted in its regulatory filing. Tata Motor’s mixed sales performance in October reflects the ongoing challenges in the automotive sector, including supply chain disruptions and fluctuating consumer demand.
EV sales
While the overall sales figures show a slight decline, the company remains optimistic about its growth trajectory, particularly in the electric vehicle (EV) segment, which continues to gain traction among consumers.
The marginal increase in total domestic sales indicates resilience in the face of economic pressures, and Tata Motors is focusing on expanding its EV offerings to capture a larger market share. The company recently launched new models aimed at enhancing its competitive edge in the rapidly evolving automotive landscape.
Analysts suggest that Tata Motors’ commitment to sustainability and innovation could position it favorably as consumers increasingly prioritise eco-friendly vehicles. The company is also investing in technology and infrastructure to support its EV initiatives, which could bolster sales in the coming months.
