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Tata Motors reported its quarterly results on Thursday, revealing a mixed outlook for the remainder of the year. The company expects global demand to remain subdued but anticipates a gradual improvement in domestic demand, driven by favourable macroeconomic factors and festive season boosts.
In an exchange filing, Tata Motors projected that domestic demand will experience gradual growth due to continued infrastructure investments, healthy monsoons, and positive macroeconomic conditions. The company expressed confidence in sustaining its performance and achieving strong results in the coming quarters. Despite the challenges in the global market, Tata Motors remains optimistic about increased sales during the festive season, supported by new product launches and strategic market expansions.
The company plans to enhance its market share by introducing new models, expanding multi-powertrain offerings, and actively growing its presence in India’s electric vehicle (EV) market while maintaining its leadership position. Tata Motors aims to leverage these strategies to offset global market weaknesses.
In terms of recent performance, Tata Motors reported an 11 per cent year-on-year decline in total sales for July, with 71,996 units sold compared to 80,633 units in the same month last year. Passenger vehicle sales, including EVs, also decreased by 6 per cent, totalling 44,954 units compared to 47,848 units in the previous year.
Despite these declines, Tata Motors’ shares experienced a one per cent drop to Rs 1,144 at the close of trading. However, the stock has performed well recently, showing a robust rally of over 14 per cent in the past month.