Tata Motors Sales Up 4% in December 2023

New Delhi, Jan 1 (PTI) Tata Motors on Monday reported a 4 per cent increase in its total domestic sales to 76,138 units in December 2023 as compared to 72,997 units in the same month a year ago.

Passenger Vehicles (PV) sales, including electric vehicles, in the domestic market stood at 43,470 units last month as against 40,043 units in December 2022, up 9 per cent, the company said in a statement.

Total electric PV sales were at 5,006 units last month as against 3,868 units in December 2022, up 29 per cent, it added.

"For Tata Motors, CY23 was the third consecutive year of posting highest-ever sales of around 5.53 lakh units, led by its commanding position in the compact SUV segment and strong growth in hatches, despite the hatch segment degrowing at an industry level," Managing Director of Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Shailesh Chandra said in a statement.

On the outlook, he said, "With multiple new products, including a new nameplate scheduled for launch in 2024, we remain optimistic about continuing the growth trend in the quarters ahead."

Tata Motors said its total Commercial Vehicles (CV) sales in December 2023 grew 1 per cent to 34,180 units as compared to 33,949 units in the year-ago period.

Tata Motors Ltd Executive Director Girish Wagh said going forward, the company expects demand to improve in the March quarter across most segments of the CV industry due to the government's continuing thrust on infrastructure development, the promising growth outlook of the economy "and our demand-pull initiatives".