Tata Motors sees EV, PV registration revival in Q3, credits festive season, marketing efforts
The company's SUV portfolio witnessed strong growth on the back of Nexon CNG and Curvv despite adverse sales of hatches and sedans
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Indian automaker Tata Motors, which last week announced its third quarter result for fiscal year 2025, reported a bounce back in its passenger and electric vehicle registration. However, the PV and CV overall posted a 22 percent year-on-year decline in net profit to Rs 5,451 crore in Q3 FY 25.
According to the automaker, it is on track to deliver a strong performance by the end of FY 25. The company in Q3 maintained its market leadership in the EV segment, with the highest-ever personal segment registrations. SUV registration grew by 16 percent year-on-year while EVs grew by 23 percent.
According to Dhiman Gupta, "We were able to draw strong retails during this period on the back of marketing campaigns around the new launches of Nexon CNG and Curvv, as well as festive period offers".
Gupta added that Tata Motors improved its market shares by 0.7 percent in Q3 on a quarter-on-quarter basis. "The strong retail in this period also ensured that we were able to exit the year and reduce the dealer inventory to less than 25 days," he said.
The company's SUV portfolio witnessed strong growth on the back of Nexon CNG and Curvv despite adverse sales of hatches and sedans.
On Curvv, Gupta said, "We have seen Nexon going from 4,000 (volume growth) to 16,000 since the time of launch, as well as Punch growing from 7,000 odd numbers in 2021 to 16,000, 17,000 or so. So we are very confident that as more and more Curvv's are seen on the road, and some of the marketing campaigns that we are going to run, it is going to really see huge traction and should start adding to the market share for the company".
The penetration of EV and CNG increased to 35 percent in FY 25 from 28 percent in FY 24.
On the company's outlook, Tata Motors' key focus would be capitalizing on the low-channel inventories and healthier dealer network. "We also identified some key micro-markets, and we will focus on driving demand and increasing our market penetration there. And, we are taking structural actions in terms of driving EV penetration, including the Tata.ev charging network," Gupta added.
