Mumbai : Tata Motors announced its sales in the domestic and international market went up 14 per cent to 2,28,169 units during October-December of fiscal 2022-23 (Q3FY23), against 1,99,634 units during Q3FY22.
According to the company, improving fleet utilisations, pick-up in road construction projects and increase in cement consumption catalysed the demand recovery for medium and heavy commercial vehicles (MHCVs).
On commercial vehicle sales, Girish Wagh, Executive Director, Tata Motors, said, “Tata Motors commercial vehicles domestic sale in Q3FY23 at 91,704 units grew 1.3 per cent over Q3FY22 while being 2 per cent lower than those recorded in Q2FY23. Our continued focus on retail during the quarter resulted in retail sales surpassing wholesale by 13 per cent in December 2022, by 6.3 per cent in Q3FY23, and reducing inventory as we transition towards Bharat Stage Emission Standards 6 (BSVI) phase-II norms.
Wagh added, “The growth in Q3FY23, was led by stronger sales of MHCVs (35 per cent growth vs Q3FY22) and a robust recovery in passenger carriers demand (84 per cent growth vs Q3FY22).”
The executive director said CV exports, however, remained subdued due to the prevailing economic situation in most overseas markets. Going forward, the company expects a good replacement demand, especially in MHCVs in Q4FY23, as it also maintains a close watch on the evolving geopolitical situation, inflation and interest rate risks on both the supply and demand, Girish Wagh said in a statement released on Sunday.
Domestic sales of Medium and Heavy Intermediate Commercial Vehicles (MH and ICV) in Q3FY23, including trucks and buses, stood at 40,391 units, against 33,753 units in Q3FY22. Total sales for MH-ICV domestic and international business in Q3FY23, including trucks and buses, stood at 42,369 units, against 37,887 units in Q3FY22.
