Tata Motors Registers Strong Sales Growth in January 2024 Led by Punch and Nexon SUVs

Tata Motors, India’s leading automotive manufacturer, reported robust sales in the month of January 2024 with total volumes crossing the 50,000 unit mark for the first time. The company sold 53,635 vehicles last month, registering a YoY growth of 11.8% and MoM growth of 23.4%. 

Leading the sales charts were Tata’s popular compact SUVs – the Punch and Nexon. The Punch posted outstanding numbers with 17,978 units sold in January 2024, a YoY increase of 50% and MoM growth of 30%. Benefiting from its attractive price point and feature-rich package, the Punch continues to be in high demand among the buyers.

The Nexon, Tata’s other mainstay in the SUV segment, sold 17,182 units during the month. This translated to a YoY growth of 10% and MoM growth of 12%. Tata Motors also launched the new Nexon CNG last month, becoming the first manufacturer to offer a CNG option in a turbo petrol SUV. This is likely to boost Nexon sales going forward.

While the Punch and Nexon led from the front, some of Tata’s other models saw mixed sales performance last month. The Tiago, Tata’s best-selling hatchback, registered a 28% YoY decline with 6,482 units sold. However, MoM sales grew by 34%, indicating recovery. The Altroz premium hatchback sales fell 13% YoY but grew 21% MoM. 

In the compact sedan segment, Tata Tigor sales declined 50% YoY and 21% MoM with 1,539 units sold in January 2024. Mid-size SUVs like the Harrier and Safari however posted strong gains. The Harrier’s sales jumped 67% YoY and 87% MoM to 2,626 units. The Safari also saw robust 180% YoY and 38% MoM growth at 2,893 units.

To sustain the sales momentum, Tata Motors is offering discounts on select models this month. The company is also set to launch new products like the Curvv EV, Curvv ICE, Altroz Racer, Harrier EV and more in 2024. This will help Tata expand its portfolio and attract more customers across segments. 

With new launches and continued focus on SUVs, Tata Motors is well-positioned to carry forward the growth momentum seen last month. The Punch and Nexon have emerged as key drivers of sales. Ongoing efforts to strengthen distribution and after-sales network will also support Tata’s volumes in the highly competitive Indian market.