Automobile major Tata Motors on April 1 announced that it has recorded total sales of 2.51 lakh units in the fourth quarter of fiscal year 2022-23, which is 3 percent higher as compared to the year-ago period.
As per the release issued by the company, it clocked a total domestic and international sale of 2,51,822 vehicles in Q4 FY23, as compared to 2,43,459 units during Q4 FY22.
The total domestic sales during the quarter under review came in at 2.47 lakh units, which is around 6 percent higher as against 2.33 lakh units sold in the year-ago period.
For the entire FY23, the domestic sales number amounted to 9.31 lakh units, which is around 35 percent higher as compared to the sale of 6.92 lakh units in FY22.
In terms of commercial vehicle sales, Tata Motors recorded negative growth. The company sold 1.16 lakh units in Q4 FY23, which is 3 percent lower than the 1.19 lakh units sold in the year-ago period.
The total commercial vehicle sales in FY23 came in at 4.13 lakh units, which is 16 percent higher as against 3.56 lakh units sold in FY22.
"This growth was driven by the robust demand for heavy trucks required to service the strong infrastructure push by the government plus increased activity in e-commerce, construction and mining," Tata Motors Executive Director Girish Wagh said.
According to Shailesh Chandra, Managing Director, Tata Passenger Electric Mobility, FY23 has set a "new record" for passenger vehicle sales in India.
"The steep growth witnessed by the industry was driven by post-COVID pent-up demand in the early part of the year, the launch of several new vehicles and easing of the semiconductor shortage. While SUVs and EVs led this growth, customers’ rising preference for safe vehicles and smart technology features was equally pronounced," he said.