Total sales includes passenger vehicle sales of 1,39,829 units (up 1%) and commercial vehicle sales of 95,770 units (down 1%).
Girish Wagh, Executive Director, Tata Motors said, Tata Motors Commercial Vehicles registered domestic sales of 91,260 units in Q3 FY25 witnessing a marginal year on year (YoY) decline of ~1% over Q3 FY24 and marking a significant improvement over the 19% YoY decline in sales recorded in Q2 FY25. Further, sales in December 2024 were ~24% higher than those recorded in November 2024.
Propelled by a resurgence in construction and mining activities post-monsoon, plus the festive season demand, HCV segment witnessed robust sequential quarter on quarter (QoQ) growth in sales during Q3 FY25, even as the YoY sales declined 9% due to limited growth in end-use segments. The ILMCV segment witnessed ~3% YoY growth, driven by strong demand, with the MCV segment continuing its robust growth trajectory to record a 40% YoY increase during Q3FY25.
Continuing its strong momentum, the Passenger Carrier segment witnessed a 30% YoY sales growth in Q3 FY25, with healthy demand from State Transport Undertakings (STUs) and the Staff/Tour & Travel segments. Small and light commercial vehicle sales experienced a marginal YoY decline of ~2% in Q3 FY25, primarily due to ongoing financing challenges faced by first-time users and rental customers in this category.
Looking ahead, we expect demand to improve in Q4 FY25 across most segments of the CV industry. The key aspects to watch out in 2025 will be government's focus on infrastructure spend, and growth in end use segments, which will augur well for the commercial vehicles industry.
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