Tata Motors’ November Sales Show Slight Dip, Yet Electric Vehicle Segment Grows”
New Delhi: In a recent report, Tata Motors revealed a 1.7% decline in total sales in November 2023 to total 74,172 units compared to 75,478 in the same period last year. The main reason for the decline was a 1% decline in domestic sales, which stood at 72,647 units. Notably, passenger vehicle (PV) sales saw a marginal decline of 1%, with 46,143 units sold.
The commercial vehicle (CV) segment witnessed a decline of 4%, reaching 28,029 units. However, the company has recorded positive growth in the electric vehicle (EV) sector, with total PV sales including EVs reaching slightly more than 46,068 units. Impressively, passenger EV sales saw a growth of 7%, totaling 4,761 units.
Tata Motors, despite the overall decline, showed resilience in the electric vehicle sector, in line with the industry’s growing focus on sustainable mobility. The company’s strategic positioning in the EV market reflects a remarkable trend, contributing to its resilience in the evolving automotive landscape. Investors have taken notice, with Tata Motors shares up a commendable 12% in the last month and up an impressive 81% year-to-date.
