Mumbai, September 10 (MeelBijendra) – Tata Motors‘ passenger and electric vehicle business in India continues strong performance for the third consecutive year and recorded its highest-ever annual sales of approximately 5,41,000 vehicles in FY23 which is a growth of 45% compared to FY22.
EV sales crossed the 50,000 annual sales milestone and accounted for 12% of the sales portfolio in Q4 FY23. Tata Motors became only the third Original Equipment Manufacturer (OEM) in India to cross the 5,00,000 annual sales mark.
Tata Motors retained the #1 SUV manufacturer rank for the second consecutive year and became the #2 brand in the Indian car market with an NPS score of 40.
In FY 2022‑23, the business reported revenue of INR 47,000.9 crore and delivered EBITDA and EBIT margins of 6.4% and 1% (an improvement of 110 bps and 300 bps over FY22).
With existing capacities approaching saturation, it acquired a state-of-the-art vehicle manufacturing facility in Sanand, Gujarat, adjacent to its existing plant, whose capacity can reach 4,20,000 units per annum.