Tata Group Chairman N. Chandrasekaran said that annual sales in the domestic passenger vehicle segment are expected to cross the 50 lakh mark in the next few years and Tata Motors is ready to take advantage of this growth opportunity. According to the news of Bhasha, in a message to the company’s shareholders in the annual report for the financial year 2023-24, he said that the company will focus on revenue growth and strong free cash flow across all its businesses in the future.
Tata Motors is well positioned to take advantage of the opportunity
According to the news, Chandrasekaran said that India is moving towards crossing the 50 lakh mark in passenger vehicle sales in the next few years, while last year this figure was 41 lakh. Chandrasekaran said that Tata Motors is well positioned to further strengthen its market position and take advantage of this growth opportunity. He said that apart from vehicle sales, focus will also be on vehicle park related businesses such as spare parts, digital and smart mobility solutions, which will help in reducing the volatility of the vehicle sales business.
38,60,268 units in the year 2023
Let us tell you, the sale of passenger vehicles stood at 38,60,268 units in the year 2023. In the year 2022, the same sale was 34,89,953 units. There is also a bullish trend in the sale of electric cars in the country. Tata Motors is leading in this. After Uttar Pradesh, Maharashtra has seen the highest inclination of people towards electric vehicles. The total number of electric vehicles in Maharashtra has touched 4 lakh. Maharashtra has the highest number of electric cars and electric bikes in the country. Uttar Pradesh ranks first with 7 lakh total electric vehicle registrations.
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