Tata Motors clocks record car sales in 2023 as Punch, Nexon, Tiago, Altroz drive growth

New Delhi,UPDATED: Jan 1, 2024 19:24 IST

Tata Motors continued its strong run in the domestic market, clocking its highest-ever passenger vehicle (PV) volume in a calendar year (CY) in 2023, beating the previous best record, which was set in 2022 only.

The homegrown auto major posted a domestic PV volume of 550,838 units in CY23, witnessing a growth of 4.56% year-on-year (y-o-y). The figure also includes electric vehicle (EV) wholesales in the domestic market.

In CY22, the PV volume of Tata Motors in the domestic market stood at 526,798 units, which was the highest ever till then.

Tata Motors has a strong PV portfolio, which includes both internal combustion engine (ICE) and EV models.

The ICE line-up consists of Tiago, Altroz, Tigor, Punch, Nexon, Harrier and Safari. The EV portfolio has Tiago.ev, Tigor.ev and Nexon.ev. In CY23, Tata Motors introduced the facelift versions of the Nexon, Nexon.ev, Harrier and Safari.

"The PV industry is expected to post its highest ever sales in CY23, crossing the significant 4 million mark, supported by a strong supply situation, new nameplates launched in the SUV segment, and a robust demand during the longer festive period," said Shailesh Chandra, Managing Director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility.

"Coming off a high base, the industry recorded single-digit growth overall with the key highlight of this moderate rise being the sharp growth registered in emission-friendly product categories. Both EV and CNG segments posted growth greater than 90% and 25%, respectively, signalling a growing preference for green and smart technologies by Indian customers," he added.

Chandra said that CY23 was the third consecutive year Tata Motors posted its highest-ever sales, led by its commanding position in the compact SUV segment and strong growth in hatchbacks, despite the hatchback segment degrowing at an industry level.

While the company's compact SUVs like the Punch and Nexon are market leaders, its hatchbacks like the Tiago and Altroz have done quite well in terms of volume over the past few years.