Tata’s CNG & EVs Experience Remarkable Sales Growth of Up to 120 Percent
Tata Motors has demonstrated strong leadership in the Indian electric vehicle (EV) market while also ensuring continuous growth in its compressed natural gas (CNG) vehicle portfolio. A recent investor presentation by Tata Motors highlighted the company's impressive performance over the past financial year (FY2023-24). Here’s a detailed look at how Tata’s greener vehicle options performed during this period.
Total Sales: Tata sold over 570,000 units in FY2023-24.
CNG Vehicle Sales: 16 percent of these sales were CNG vehicles.
Growth Rate: Sales of Tata’s CNG vehicles grew by 120 percent compared to the previous financial year (FY2022-23).
Innovative Technology: The introduction of ‘Twin-cylinder’ technology, which maximizes boot space, has significantly contributed to this growth. This technology is featured in the CNG versions of the Tiago, Tigor, Altroz, and Punch models.
Market Trend: The overall passenger vehicle market in India also saw a 55 percent growth in CNG vehicle sales.
Market Leadership: Tata Motors holds over 70 percent of the Indian EV market share.
Sales Growth: There was a 48 percent increase in Tata’s electric car sales in FY2023-24.
Total EV Sales: Tata sold 73,844 electric cars, accounting for 13 percent of its total passenger vehicle sales.
Current EV Models: Tata’s current EV lineup includes the Tiago EV, Tigor EV, Punch EV, and Nexon EV.
Future Plans: Tata plans to expand its EV offerings with upcoming models like the Curvv EV, Harrier EV, Sierra, and Avinya.
Market Trend: The Indian electric car market as a whole experienced a 70 percent growth in this financial year.
Tata Motors' substantial growth in both the CNG and EV segments underscores the company’s commitment to greener and more sustainable vehicle options, positioning it strongly in the evolving Indian automotive market.
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