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Tata Motors sees 6% rise in domestic sales, driven by PV segment

Tata Motors sees 6% rise in domestic sales, driven by PV segment
© Reuters

Tata Motors (NYSE:) reported a 6% year-on-year increase in domestic sales for October 2023, with total sales reaching 80,825 units. This growth was primarily fueled by the passenger vehicle (PV) segment, which saw a 7% surge in sales, registering 48,337 units sold. The PV segment includes electric cars as well as models with conventional power trains like the upgraded Nexon, Safari, and Harrier.

These models have recently been enhanced with design-related modifications such as alloy wheels and larger infotainment screens. The changes seem to have resonated with consumers, contributing to the overall rise in sales for this segment.

While the company’s commercial vehicle (CV) sales also increased by 4%, there was a slight dip in the small commercial vehicles sector. Sales in this category dropped from 15,618 to 14,419 units. Contrarily, heavy commercial vehicle (HCV) truck sales witnessed a growth from 9,253 to 10,204 units.

In addition to these developments, Tata Motors’ passenger carriers experienced a significant surge in sales. The segment saw an impressive 43% growth, indicating strong demand in the market for this category of vehicles.

InvestingPro Insights

InvestingPro data and tips highlight some key aspects of Tata Motors’ performance and future prospects. The company’s accelerating revenue growth, as evidenced by the recent sales report, aligns with InvestingPro’s observation. Additionally, the expected growth in net income this year is a promising sign for potential investors.

InvestingPro Tips also suggest that Tata Motors’ stock generally trades with low price volatility, which can be appealing to investors preferring stable investments. However, it’s worth noting that the stock price movements can be quite volatile, which might indicate potential risks or rewards for traders.

In the Automobiles industry, Tata Motors is a prominent player, a fact that is reflected in its robust sales figures and market presence. The company’s stock is currently trading near its 52-week high, which could be a testament to its solid performance and positive market sentiment.

InvestingPro Tips also reveal that Tata Motors has been profitable over the last twelve months, a trend that analysts predict will continue this year. This profitability, coupled with the company’s strong return over the last five years, paints a favorable picture for potential investors.

To explore more about Tata Motors and get access to over 10 InvestingPro Tips, consider using the InvestingPro platform. It provides comprehensive and real-time data, insights, and tips for various companies, helping investors make informed decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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