Tata Motors' October sales soar 26.6% on festive demand, GST push

Tata Motors reported a 26.6% sales increase in October to 61,295 units, driven by festive demand. SUVs and EVs led the charge, with EV wholesales surging 73% YoY. GST reforms also contributed to the record-breaking performance.

Tata Motors reported a 26.6 per cent increase in sales in October, reaching 61,295 units across domestic and international markets combined. The robust sales can be attributed to unprecedented festive momentum. This represents a comparison to the 48,423 units sold during October 2024.

Record Sales and SUV Dominance

The automaker, in a statement, said it reported record-breaking monthly wholesales for the second consecutive month. SUVs lead the charge in October. Over 47,000 units were sold during the month, achieving the highest-ever 77 per cent share in monthly sales, the statement said.

EV Sales Hit New Peak

Tata Motors also reported an all-time high EV wholesales, at 9,286 units, surging over 73 per cent year-on-year, powered by what it termed "strong customer preference for our expanding EV portfolio."

Festive Bookings and Deliveries Surge

"Monthly bookings hit an all-time peak: reflecting strong customer preference for our wide-ranging models and choice of powertrain options," the statement read. Over 1 lakh vehicle deliveries were made between Navratri and Diwali, marking a robust 33% year-on-year growth, it added.

GST Reforms Fuel Growth

Understandably, the GST reforms also played a role in the bumper October sales. Under the new GST structure, smaller sub-4 metre cars were moved into the 18 per cent slab, while the compensation cess on automobiles was completely removed. Petrol and petrol hybrid cars, along with LPG and CNG variants that do not exceed 1200 cc and 4000 mm in length, are now taxed at 18 per cent instead of 28 per cent.

On September 22, the first day of Navratri, all changes to GST rates took effect. On September 3, sweeping reforms were made, including tax rate rationalisation under the next-generation GST (Goods and Services Tax), just days after Prime Minister Narendra Modi announced it from the ramparts of the Red Fort on Independence Day.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)