Tata Motors Sales Report July 2024: Total Commercial Vehicle Sales Declined 18% to 27,042 Units

Key Highlights

• Tata Motors sold 71,996 units in July 2024.
• Total passenger vehicle sales decreased by 6% YoY.
• Commercial vehicle sales fell by 18% YoY.
• Electric vehicle sales dropped by 21% YoY.

Tata Motors Limited reported a total sales figure of 71,996 units in July 2024. This marks a decrease from the 80,633 units sold in July 2023. The decline is evident in both passenger vehicles (PV) and commercial vehicles (CV) sectors. Here's a closer look at the performance in domestic and international markets:

Overall Sales Performance

Domestic Sales Performance

Tata Motors' domestic sales for July 2024 showed a notable decrease of 11% compared to the same month last year.

Commercial Vehicles (CV)

Commercial vehicle sales also experienced a decline in July 2024. Here’s a breakdown by category:

The sale of Medium and Heavy Commercial Vehicles (MH&ICV) domestically was 11,174 units in July 2024, down from 13,291 units in July 2023.

HCV Trucks: Sales of Heavy Commercial Vehicles (HCV) dropped to 6,493 units in July 2024 from 8,502 units in July 2023, marking a significant decline of 24% year-on-year.

ILMCV Trucks: Sales of Intermediate and Light Commercial Vehicles (ILMCV) decreased to 4,341 units from 4,899 units, reflecting an 11% reduction compared to the previous year.

Passenger Carriers: The sales of passenger carriers slightly increased by 3%, with 4,424 units sold in July 2024 compared to 4,292 units in July 2023.

SCV Cargo and Pickup: Sales of Small Commercial Vehicles (SCV) including cargo and pickups fell to 10,178 units from 13,523 units, showing a 25% decline year-on-year.

Total CV Domestic: The total domestic sales for commercial vehicles dropped by 19%, with 25,436 units sold in July 2024 compared to 31,216 units in July 2023.

CV IB: Sales of Commercial Vehicles in International Business (CV IB) saw a decrease of 7%, from 1,728 units in July 2023 to 1,606 units in July 2024.

Total CV: Overall commercial vehicle sales, including both domestic and international markets, declined by 18%, totaling 27,042 units in July 2024 compared to 32,944 units in July 2023.

Passenger Vehicles (PV)

Passenger vehicle sales for Tata Motors decreased by 6% year-on-year in July 2024. The total domestic sales, including electric vehicles (EVs), fell to 44,725 units from 47,628 units in July 2023. However, there was a significant increase in passenger vehicle imports (PV IB), which rose by 275% to 229 units. The overall total for passenger vehicles, including EVs, was 44,954 units compared to 47,689 units last year, marking a 6% drop. Notably, EV sales, combining both imports and domestic, declined by 21% to 5,027 units from 6,329 units. This data encompasses sales from Tata Motors Passenger Vehicles Limited and Tata Passenger Electric Mobility Limited.

Also Read: Force Motors Reports Strong Q1FY25 Performance

CMV360 Says

The overall sales decline for Tata Motors in July 2024 reflects a challenging market environment. While the commercial vehicle sector has been hit hardest, the company continues to see significant sales in its passenger vehicle segment, particularly in electric vehicles.