Tata Motors Reports 1% Drop in Total Auto Sales in November 2023

Tata Motors announced its November 2023 auto sales numbers, reporting total sales of 74,172 vehicles, a 1% decline from 75,478 units sold in November 2022. However, electric vehicle (EV) sales continued to grow, with 4,761 EVs sold in November, up 7% year-over-year.

In the commercial vehicles segment, Tata sold 28,029 units in November 2023, compared to 29,053 units in the same month last year, representing a 4% dip. The company reported strong medium and heavy commercial vehicle (MHCV) sales, which rose to 12,895 units, a 2% increase over last year. However, cargo vehicle and small commercial vehicle (SCV) sales dropped by 9% to 11,811 units.

In passenger vehicles, Tata Motors sold a total of 46,143 units in November 2023, again a marginal 1% decline versus the 46,425 vehicles sold in November 2022. However, the company seems positive about EV growth, with EVs now accounting for over 10% of total monthly passenger vehicle sales.

Earlier in the day, Mahindra & Mahindra Ltd. (M&M) reported robust SUV sales growth in November 2023, driven by healthy festive season demand amid supply constraints for select parts.

M&M sold 39,981 SUVs in the domestic market in November, a 32% increase over 30,238 units sold in November 2022. This took total SUV sales including exports to 40,764 units. The company’s total auto sales across passenger and commercial vehicles stood at 70,576 units, up 21% year-on-year.

Similarly, Bajaj Auto Ltd. registered a healthy 31% year-on-year increase in overall vehicular sales for November 2023, the country’s leading two and three-wheeler manufacturer stated today.

According to the regulatory report submitted by the Pune-based company, Bajaj Auto clocked total sales of 4,03,003 units in November 2023, against 3,06,719 units in November 2022. The robust growth comes on the back of strong home market demand during the festive season as well as firm commercial vehicle momentum.