India's largest automobile company, Tata Motors (NYSE: TTM ), reported a 2% increase in total domestic vehicle sales for September 2023, with sales reaching 82,023 units compared to 80,633 units sold in the same month last year. The company also observed a significant surge in its commercial vehicles segment, with a rise of 12% at 39,064 units sold in September 2023 relative to the 34,890 units sold in September 2022.
Despite the overall growth in domestic sales, passenger vehicle sales, including electric vehicles, saw a decrease of 6% at 44,809 units last month compared to the 47,654 units sold in September 2022. This downturn was offset to some extent by an impressive growth of 57% in electric vehicle sales across both domestic and international markets. The company sold 6,050 electric vehicles this September compared to the 3,864 units sold during the same period last year.
In terms of quarterly performance, Tata Motors' domestic commercial vehicles sales for the second quarter of fiscal year 2024 (Q2FY24) stood at 99,178 units. This represents a growth of 6% when compared to the corresponding quarter of the previous fiscal year.
With subsidiaries and associate companies spread across several countries including the UK, South Korea, Thailand, South Africa and Indonesia, Tata Motors continues to mark its presence on a global scale. Among these subsidiaries is Jaguar Land Rover, comprising two iconic British brands that further bolster Tata Motors' international standing.
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