Shares of Tata Motors were flying high on Friday after the company posted robust sales numbers for the month of February, especially for passenger vehicles, including electric cars.
What Happened: In the latest sales report for February, the Tata Group firm sold a total of 86,406 units sold, marking an increase from the 79,705 units sold in the same month last year.
The carmaker’s total passenger vehicle sales report increased 19% year on year, which includes electric vehicles, totaling 51,321 units.
Conversely, total commercial vehicle sales saw a 4% year-on-year decrease, with 35,085 units sold. The heavy commercial vehicle trucks category experienced a 15% decline, while the small commercial vehicle cargo and pickup category dipped by 4%.
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Despite the overall decrease in commercial vehicle sales, passenger carriers recorded a 29% growth year-on-year. The domestic sale of medium & heavy commercial vehicles, including trucks and buses, stood at 16,227 units in February 2024, compared with 17,282 units in February 2023.
The sales for medium & heavy commercial vehicles, including domestic and international business, stood at 16,663 units in February 2024, compared to 17,928 units in February 2023.
Electric vehicle sales, both domestic and international, saw a 30% increase, with 6,923 units sold in February 2024, compared with 5,318 units in the same month the previous year.
Price Action: Tata Motors’ share price was up 2.89% at ₹977.65 on Friday amid strong positive sentiment in the broader market.
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