Total domestic sales for Q2 2024-25 is placed at just under 2.1 Lac units compared to 2.37 Lac units a year ago.
September 2024 numbers fell even more at 15% to near 69694 units compared to 82,023 units in Sept 2023.
While the commercial vehicles saw a plunge of 19% sales in Q2, passenger vehicles too saw a fall of 6%.
EVs saw a bigger percentage fall of 16% in Q2 and 23% in Sept 24.
Mr. Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles Ltd. and Tata Passenger Electric Mobility Ltd. said, “The PV industry in Q2 FY25 saw more than 5% decline in retails (Vahan registrations) compared to Q2 FY24 driven by slow consumer demand and seasonal factors. In contrast, industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in a continued buildup of channel stock. In addition, Electric Vehicle sales in personal segment was affected by the lapse of registration and road tax waivers in key states. Fleet EV sales continued to remain impacted due to lapse of FAME II and non-inclusion of the fleet segment in PM-eDRIVE scheme. Tata Motors posted wholesales of 130,753 units in Q2 FY25, a decline of 6% compared to Q2 FY24, as we readjusted wholesales to lower-than-expected retails, to keep channel inventory under control. During the quarter, we launched the Curvv, which has received an excellent response with strong bookings for all its powertrains – petrol, diesel and electric. Initial deliveries of Curvv have commenced, and we will continue to ramp up production in Q3. Our market facing interventions have been well received, generating a strong pipeline. The launch of our higher range Nexon.ev has also generated strong consumer interest. Registrations picked up pace towards end of the month which augurs well for the festive period ahead and we remain focused on driving up consumer preference for our exciting range of vehicles while maintaining the health of our dealer network.”
