Tata Motors' global wholesales rise 13% in Q3 FY23
Tata Motors is on a roll both domestically as well as in the international markets. In India, the company sold 5,26,819 passenger cars in the last calendar year (January to December). The sales went up 59.07% over the same period in 2021. Meanwhile, global wholesales rose 13% in Q3 FY23 (October-December 2022) in comparison to the figures from Q3 FY22.
Why does this story matter?
- The year 2022 was a good one for Tata Motors in India, with sales growth in all four quarters. The same can be said for the global markets as well.
- In 2023, the firm is betting big on EVs. To this end, the company has bought Ford's factory in Sanand. This would aid in increasing its yearly EV manufacturing capability to three lakh units.
Here's a look at the domestic sales figures
In 2022, Tata Motors sold 5,26,819 cars, up from 3,31,181 units retailed during the same period in 2021. This resulted in a growth of 1,95,638 units. In December 2022, 40,043 units were sold, up from 35,299 cars in December 2021, reporting a 13.44% year-on-year (YoY) growth. Meanwhile, on a month-on-month basis, sales in December 2022 fell 13.02% from 46,037 cars sold the previous month.
A domestic quarter-wise breakup of the sales
The first quarter of 2022 saw 1,23,055 cars being sold and a YoY gain of 46.74%. In Q2, 1,30,130 cars were sold and the company registered a YoY growth of 102.11%. In Q3, the figures stood at 1,42,331 and the YoY growth was lowered to 69.58%. Finally, in Q4, 1,31,303 vehicles were sold at an even lower YoY growth of 32.62%.
What about international markets?
Global passenger vehicle wholesales of Tata Motors group (including JLR) rose 13% to 3,22,556 units in Q3 FY23 versus Q3 FY22. JLR's global wholesales during the same period were 92,345 vehicles, of which 76,060 belonged to Land Rover and the rest to Jaguar. For the company's commercial vehicles and Tata Daewoo range, wholesales slipped 5% to 97,956 units in Q3 FY23 versus Q3 FY22.
Tata has acquired Ford's Sanand factory
In separate news, Tata Motors has acquired Ford India's erstwhile plant in Sanand, Gujarat for Rs. 725.7 crore (excluding taxes). The acquisition, effective January 10, covers the buildings, the employees working there, and all machinery. The factory will be used for EV manufacturing.
