In Q2FY23, the commercial vehicle industry had seen consistent demand – Tata Motors
Posted by Priya Singh On 01-Oct-2022 12:27 PM
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Domestic MH&ICV sales in Q2 FY23, including trucks and buses, were 38,143 units, up from 29,401 units in Q2 FY22.
Tata Motors Limited today announced its domestic and international sales for Q2FY23, which totalled 2,43,387 vehicles, up from 1,71,270 units in Q2FY22.
"The commercial vehicle industry witnessed consistent demand in Q2FY23. Tata Motors CV business increased domestic sales by 20% year on year in Q2FY22, selling 93,675 units. This expansion was driven by higher MHCV sales and a strong recovery in passenger carrier demand. Improving fleet utilisation, an increase in road construction projects and an increase in cement consumption fueled the recovery of MHCV demand. CV exports, on the other hand, fell by 22% due to the economic situation in Sri Lanka and Nepal, though they improved by 30% sequentially. The recent exciting launches of a new range of smart trucks in MHCV and ILCV, as well as best-in-class pickups, will allow us to better serve our customers. Going forward, while we expect strong sales during the festive season, we will keep a close eye on the evolving geopolitical, inflation, and interest rate risks on both supply and demand," says Mr Girish Wagh, Executive Director, Tata Motors Ltd.
Sales Figure
| Category | Sept 22 | Sept 21 | Growth (y-o-y) |
|---|---|---|---|
| M&HCV | 9,983 | 8,609 | 16% |
| I&LCV | 5,144 | 5,600 | -8% |
| Passenger Carriers | 2,287 | 1,085 | 111% |
| Cargo and Pickup | 15,565 | 14,964 | 4% |
| Total CV Domestic | 32,979 | 30,258 | 9% |
| CV Exports | 1,911 | 3,000 | -36% |
| Total CV | 34,890 | 33,258 | 5% |
Domestic MH&ICV sales in Q2 FY23, including trucks and buses, were 38,143 units, up from 29,401 units in Q2 FY22. Total sales for the MH&ICV Domestic & International Business, including trucks and buses, were 40,556 units in Q2 FY23, up from 33,737 units in Q2 FY22.
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