Apr 6, 2023
By: Rounak JainWith 46,847 cars sold in March 2023, Tata Motors has overtaken Hyundai in domestic passenger vehicle sales. Hyundai sold 45,703 cars during this month.
Credit: Tata-Motors/Hyundai
Tata Motors registered a 27 percent year-on-year (YoY) increase in its sales in March, far ahead of Hyundai which registered a growth of 4.4 percent.
Credit: Tata-Motors
Tata Motors’ market share in the passenger vehicles segment increased from 11.27 percent in FY22 to 13.39 percent in FY23. Hyundai’s share fell from 16.28 percent to 14.51 percent in this period.
Credit: Tata-Motors
“We expect the demand for personal vehicles to remain robust with the trend of electrification further strengthening,” said Shailesh Chandra, MD, Tata Motors Passenger Vehicles.
Credit: Tata-Motors
Chandra however said that the growth may moderate “due to a strong base effect as well as macro factors including hardening interest rates, rising inflation, and the cost impact from progressive regulatory norms.”
Credit: Tata-Motors
Tata Motors’ portfolio of sports utility vehicles (SUV) – Nexon, Punch, Harrier and Safari – registered their best-ever annual sales, accounting for 66 percent of the company’s total sales volume.
Credit: Tata-Motors
Sales of Tata Motors’ electric vehicle fleet, which consists of the Nexon EV, Tiago EV and Tigor EV, crossed the 50,000 units milestone in FY23, with a growth of 154 percent YoY.
Credit: Tata-Motors
The share of EVs in Tata Motors’ portfolio grew from 7 percent at the beginning of FY23 to 12 percent at the end of FY23. March and Q4 FY23 were Tata Motors’ best-ever periods for EV sales.
Credit: Tata-Motors
Two Tata cars emerged in the top ten in terms of sales volume in March – the Nexon at 14,769 units, and the Punch at 10,894 units. Only one Hyundai car, the Creta, was in the top ten, with 14,026 units sold during the month.
Credit: Tata-Motors