Tata Motors’ November 2023 Car Sales Update

Tata Motors has emerged with a blend of highs and lows in its November 2023 sales report. The Indian auto giant sold a total of 46,143 passenger vehicles (PVs), including cars and SUVs, marking a slight year-on-year decrease of 1% compared to November 2022’s figure of 46,425 units. However, this dip reflects only a part of the story.

We can see a general slowdown in the passenger vehicle industry, particularly in the sedan and hatchback segments including Tata Motors. Its multi-fuel and multi-powertrain strategy, including petrol, diesel, CNG, and electric options, has been pivotal in maintaining competitive momentum.

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Tata Motors EV update

A significant highlight is Tata Motors’ performance in the electric vehicle (EV) market. With a 59% year-on-year growth, the company sold 48,187 EVs in the first eight months of the fiscal year, accounting for 13% of its total PV sales. Despite a monthly decline of 12.88% from October 2023, the November sales of 4,761 EV units represented a 7% increase compared to November 2022.

Tata Motors’ EV range covers various body styles, catering to both premium and mass-market segments. This includes the popular Nexon.ev, the affordable Tiago.ev hatchback, and the Tigor EV, predominantly serving fleet operators. The company’s continuous innovation is evident in the upcoming Punch EV, further expanding its EV portfolio.

Also read: Tata Motors Posts Impressive Q2 Results; Shares Surge by 4.7%

Tata Motors Pune Plant Update

On the manufacturing front, Tata Motors is enhancing its Pune plant’s capacity. This involves engineering modifications and assembly line adjustments to accommodate a wider range of models and variants, signaling a strategic move to meet growing demand and diversify its offerings.

In the broader industry context, Tata Motors’ performance is part of a larger narrative.

Also read: Tata Motors Share Price Target 2024 to 2030

Tata Motors vs Other Auto Companies November Sales Update

The Indian passenger vehicle industry recorded its highest-ever November volume, with 335,354 units sold, marking a 3.95% year-on-year growth. Maruti Suzuki India led the charge, with volumes almost equal to the combined efforts of Hyundai Motor India, Tata Motors, and Mahindra & Mahindra.

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Category Observation
Overall PV Sales 46,143 units
EV Sales in November 2023 4,761 units
YoY Growth (PV Sales) -1%
MoM Change (EV Sales) -12.88%
EV Share in PV Sales 13%
Cumulative Sales (Apr-Nov 2023) 374,169 units
Model Portfolio 4 SUVs, 2 Hatchbacks, 1 Sedan
Comparison with Industry Behind Maruti, ahead of Hyundai and Mahindra

Tata Motors’ overall domestic and international sales in November 2023 stood at 74,172 vehicles, a slight decrease from 75,478 units in November 2022. The company’s commercial vehicle (CV) segment also witnessed a marginal year-on-year decline. However, the domestic sale of medium and heavy commercial vehicles, including trucks and buses, showed a positive trend, underscoring Tata Motors’ diverse strength across vehicle categories.

Also read: Tata Motors Achieves Historic Milestone: Shares Soar Past ₹700 Mark

Tata Motors’ November 2023 performance reflects a mixed picture of the current market challenges, with notable success in the electric vehicle segment and a strategic focus on diversification and innovation.

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Author: Sanjib SahaSanjib is a finance based writer who has a deep knowledge in stock market, cryptocurrency and mutual funds. He is also a co-founder of Financesrule.com

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