Tata Motors on Monday reported a 2 per cent rise in its total domestic wholesales at 90,822 units in March.
In the year-ago period, the company posted total domestic wholesales of 89,351 units.
Sales of passenger vehicles, including electric vehicles, in the domestic market, were at 50,297 units in March as compared to 44,225 units in the same period last year, up 14 per cent, it added.
Total commercial vehicle dispatches in the domestic market last month stood at 40,712 units, down 10 per cent as against 45,307 units in March 2023.
For the fiscal ended March 31, 2024, the company said its total wholesales in the domestic market stood at 9,49,015 units, up 2 per cent from 9,31,957 units in 2022-23.
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Last fiscal, passenger vehicle wholesales stood at 5,73,495 units, up 6 per cent from 5,41,087 units in FY2022-23.
Commercial vehicle dispatches in the domestic market declined by 4 per cent to 3,78,060 units last fiscal from 3,93,317 units in the year-ago period.
‘Healthy Growth’
"In FY24, the company's passenger vehicles (including EVs), posted its third consecutive year of highest ever sales with wholesales of 5,73,495 units (up 6 per cent vs FY23) and retail sales growing around 10 per cent vs FY23," Tata Motors Passenger Vehicles Managing Director Shailesh Chandra stated.
Although no new nameplate was launched, the company's multi-powertrain strategy enabled it to deliver healthy growth with vehicles powered by CNG and EV contributing nearly 29 per cent of overall sales, he added.
Chandra noted that passenger vehicle sales in India are projected to set a record in FY24 with over 4.2 million units sold supported by strong growth in SUV sales which are expected to surpass 50 per cent of overall sales in FY24 versus 43 per cent in FY23 and rising popularity of emission-friendly powertrains.
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"With sales of cars powered by traditional fuels (petrol and diesel) flattening, almost the entire incremental volume growth of FY24 is expected from rising sales of emission-friendly powertrains," he noted.
Further, Chandra said, "Going forward, we expect the demand for passenger cars to remain strong, although the high base effect may keep the growth rate in single digit."
Customers' rising preference for safe and green vehicles should result in double-digit growth for sales of cars with emission-friendly powertrains supported by new launches and a stronger value proposition, he added.