Tata Motors Registers 2,35,599 Units in Q3 FY25 Sales, Maintaining Growth Across Segments
Tata Motors Limited reported a total sales figure of 2,35,599 vehicles for Q3 FY25, a slight increase compared to 2,34,981 units sold in Q3 FY24. The company’s performance across both the domestic and international markets reflects a stable growth trajectory, supported by strong demand in various segments, particularly in the commercial and passenger vehicle categories.
Total Domestic Sales Overview
Tata Motors’ total domestic sales in December 2024 reached 76,599 units, reflecting a modest 1% increase compared to 76,138 units sold in December 2023. For the entire Q3 FY25, the company sold 2,30,684 units in the domestic market, which was nearly flat compared to 2,29,610 units during the same period in FY24.
Commercial Vehicles Segment
The commercial vehicles (CV) category showed a mixed performance, with some segments witnessing growth and others experiencing declines. In December 2024, domestic sales of heavy commercial vehicles (HCV) dropped by 15%, from 11,199 units in December 2023 to 9,520 units in December 2024. However, the overall HCV sales for Q3 FY25 recorded a 9% decrease, totaling 27,130 units compared to 29,656 units in Q3 FY24.
In contrast, the intermediate and light commercial vehicles (ILMCV) segment saw a more positive trend, with sales growing by 3% in Q3 FY25, reaching 15,897 units, up from 15,411 units in the previous year. The passenger carriers segment also performed well, registering a 30% increase in sales, with 10,001 units sold in Q3 FY25, compared to 7,704 units in Q3 FY24.
Small commercial vehicles (SCV) and pickups faced a minor dip, with a 2% decline in Q3 FY25 sales, dropping to 38,232 units compared to 38,964 units in Q3 FY24. The total CV domestic sales for Q3 FY25 stood at 95,770 units, a slight decline of 1% compared to 96,526 units in Q3 FY24.
Sales of Medium and Heavy Commercial Vehicles (MH&ICV) in December 2024 were 15,968 units, compared to 16,851 units in December 2023. For the entire quarter, domestic sales in this category totaled 44,023 units, down marginally from 44,365 units in Q3 FY24. In combination with international markets, the MH&ICV category recorded 46,108 units in Q3 FY25, just slightly below the 46,534 units sold in Q3 FY24.
In Q3 FY25, Tata Motors experienced a mixed but generally positive performance across its various vehicle segments. The intermediate and light commercial vehicles (ILMCV) segment showed a healthy growth of 3%, with sales increasing to 15,897 units from 15,411 units in Q3 FY24. Similarly, the passenger carriers segment had an outstanding performance, with sales soaring by 30%, reaching 10,001 units in Q3 FY25 compared to 7,704 units during the same period in the previous year.
However, the small commercial vehicles (SCV) and pickups category faced a slight setback, recording a 2% dip in sales. The segment sold 38,232 units in Q3 FY25, a decrease from 38,964 units in Q3 FY24. Despite this minor drop, the overall domestic sales for the commercial vehicle (CV) segment in Q3 FY25 totaled 95,770 units, which was a slight decline of 1% from the 96,526 units sold in Q3 FY24.
In terms of Medium and Heavy Commercial Vehicles (MH&ICV), Tata Motors saw a modest decline in December 2024, with sales standing at 15,968 units, down from 16,851 units in December 2023. For the quarter, total domestic sales in this category were 44,023 units, a small decrease from 44,365 units in Q3 FY24. When factoring in international markets, the MH&ICV segment achieved a combined sales figure of 46,108 units, just slightly below the 46,534 units recorded in Q3 FY24.
Overall, Tata Motors continues to show resilience in the commercial vehicle market, with several segments demonstrating growth, even amid minor declines in specific categories.
Mr. Girish Wagh, Executive Director at Tata Motors, commented, “Our Commercial Vehicles division experienced a steady domestic sales performance in Q3 FY25 with a minor YoY decline of ~1%. However, the sales improvement in December, growing by 24% over November, shows the ongoing recovery. The construction and mining sectors, which saw a post-monsoon resurgence, coupled with strong demand during the festive season, contributed to the improved performance in the HCV segment, although YoY numbers remained subdued. In the ILMCV sector, demand continued strong, driving a 3% growth. The Passenger Carrier segment performed exceptionally well with a remarkable 30% growth.”
Waugh expressed optimism, stating that the CV industry would see better demand in Q4 FY25. He highlighted that government infrastructure spending and growth in end-use sectors would drive the commercial vehicle market forward in the upcoming year.
Passenger Vehicles Segment
On the passenger vehicles front, Tata Motors witnessed a more moderate growth trend. December 2024 saw domestic sales of 44,230 units, a 2% increase compared to 43,470 units in December 2023. For the entire Q3 FY25, Tata Motors’ total passenger vehicle sales, including electric vehicles (EVs), rose by 1% to reach 1,39,829 units, up from 1,38,455 units in Q3 FY24.
In the electric vehicle segment, Tata Motors continued to expand its market share. The company sold 5,562 EVs in December 2024, a 11% increase over the 5,006 units sold in December 2023. For the entire quarter, EV sales grew by 6%, with 16,119 units sold compared to 15,232 units in Q3 FY24. This continued growth in the EV market underlined Tata Motors’ strong push towards clean and sustainable mobility.
Despite this growth, Tata Motors faced challenges in international passenger vehicle sales, which were down by 71% in December 2024, with only 59 units sold compared to 205 units in December 2023. This decline was primarily attributed to reduced fleet volumes, a direct consequence of the expiration of the FAME II subsidy.
Mr. Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility Ltd., expressed satisfaction with the company’s overall growth. He noted, “The passenger vehicle industry saw moderate growth in CY24, with SUV sales driving the growth trend. For Tata Motors, 2024 marked the fourth consecutive year of record-breaking sales, with 565,000 units sold. Our SUV portfolio showed robust growth, particularly with the Punch model, which became the highest-selling car model in India in 2024. The CNG variant also gained traction, with over 120,000 units sold, reflecting a 77% growth.”
Chandra also highlighted strong retail sales during the festive season, which boosted Tata Motors’ performance in Q3 FY25. He was optimistic about the future, with the company looking to continue its strong growth momentum in 2025. He further added that Tata Motors was well-positioned for future growth, particularly with new product launches, a diversified powertrain strategy, and innovations in both the passenger and electric vehicle segments.
Tata Motors’ performance in Q3 FY25 highlights the company’s resilience and adaptability across both the commercial and passenger vehicle sectors. While there were some challenges, particularly in the heavy commercial vehicle sector and international passenger vehicle markets, the company has maintained steady growth in critical areas, including electric vehicles and passenger carriers. With a robust pipeline of product launches and strategic investments in EV technology, Tata Motors is poised for continued success in the coming quarters.
