Girish Wagh, Executive Director, Tata Motors Ltd. said, “Tata Motors commercial vehicles domestic sale in Q3FY23 at 91,704 units grew 1.3% over Q3FY22, while being 2% lower than those recorded in Q2FY23."
"Our continued focus on retail during the quarter resulted in retail sales surpassing wholesale by 13% in December’22, by 6.3% in Q3FY23, and reducing inventory as we transition towards BSVI phase-2 norms," Wagh said.
"The growth in Q3FY23, was led by stronger sales of MHCVs (+35% vs Q3FY22) and a robust recovery in passenger carriers demand (+84% vs Q3FY22). Improving fleet utilizations, pick up in road construction projects and increase in cement consumption catalysed the demand recovery for MHCVs. CV exports, however, remained subdued due to the prevailing economic situation in most overseas markets. Going forward, we expect a good replacement demand, especially in MHCVs in Q4 FY23, as we also maintain a close watch on the evolving geopolitical situation, inflation and interest rate risks on both the supply and demand," he said.