The total domestic sales of Tata Motors Ltd (TML) fell 4 per cent to 68,514 units this year from 71,467 units in April last year, the data released by the company showed on Monday. The sales of commercial vehicles fell sharply by 27 per cent to 22,492 units in April this year. It was 30,838 last year.
The exports of commercial vehicles rose a marginal 3 per cent from 958 to 985.
The sale of passenger vehicles, however, saw a jump of 12 per cent to 47,007 units from 41,587 units during the period.
In this, the sales of electric vehicles (EVs) jumped the highest, 179 per cent to 6,516 per cent in April this year from 2,333 units year-on-year (YoY). Internationally, the sales of EVs were up 133 per cent from 43 to 100.
The company's total sales in the domestic and international markets for April 2023 stood at 69,599 vehicles, compared with 72,468 units during April 2022.
The company has cars like Nexon, Tiago, Tigor as well as Jaguar Land Rover in its portfolio.
Last month, rating agency Standard and Poor's raised TML's long-term issuer and issue credit ratings from "BB-" to "BB" on improvement in earnings and potential deleveraging. A "BB" rating signifies that the entity is less vulnerable in the near term but faces major ongoing uncertainties due to adverse business, financial and economic conditions, the rating agency said.
It added TML's cash flow should strengthen over the next 12-18 months on improving operating conditions in India and at its 100 per cent subsidiary, Jaguar Land Rover Automotive PLC (JLR).
From today, May 1, the company has also raised the prices of passenger vehicles to partially offset an increase in input costs. The weighted average increase will be 0.6 per cent, depending on the variant and model, Tata Motors had said in a statement.
This will be the second price hike by the company for its PVs after it had increased in February.
Earlier in February this year, the company had increased prices across its internal combustion engine (ICE) portfolio of passenger vehicles by an average of 1.2 per cent.