Tata Motors faces loss in November 2023, demand for EV increases

There has been a slight decline in the sales of Tata Motors in November. The company has released the report for November 2023 which states that car sales have declined by 1.73 percent compared to last year. During the same month last year, the company’s sales figure was 75,478. But this year it came down to 74,172. This shows that the company has suffered a loss of 1.73 percent on year over year basis. The situation in the EV segment has also been told.

Tata Motors In the car sales report, a decline of 820 units was recorded during November this year. While in October, Rushlane’s According, the company had sold 80,825 units. The biggest blow here has been suffered by the company in exports. In which there has been a decline of 81 percent. The company had exported 388 units in November 2022, but only 75 cars were exported during the same month of 2023. That means the figure of domestic and export sales in November was 46,143 which was 46,425 last year. Overall the company experienced a decline of 1 percent.

Tata EV If we talk about it, the company has benefited here. It has seen growth in the electric vehicle segment. The company’s Nexon EV, Tiago EV And the demand for Tigor EV lineup has increased. Growth has been recorded in sales this year. In November last year, the company had sold 4,451 EVs. Whereas this year, the total sales of Tata’s electric cars in November stood at 4,761 units. The company is continuously increasing its EV lineup. Only last month, Tata started testing Harrier.ev, which is a mid-size electric car, and comes in the SUV segment.

The company has seen growth in passenger carrier vehicles. There has been an increase of 4 percent on year over year basis. Last year the company had sold 2,040 units. This year this figure is said to be 2130 units. There has been a greater decline in SCV cargo and pickup vehicles which are considered to be the high selling segments. Here Tata has suffered a setback of 9 percent. Last year the company had sold 13,048 units, which came down to only 11,811 units this year.