Tata Motors’ domestic sales slump 25% in November

Mumbai, Dec 1 (SocialNews.XYZ) Tata Motors on Sunday reported a 25 per cent fall in its domestic sales in November, on a year-on-year basis.

The company sold 38,057 units last month, compared to 50,470 units during the same period last year, Tata Motors said in a regulatory filing at the BSE.

Its total sales, including exports, also declined by around 25 per cent to 41,124 units.

"Tata Motors Limited today announced its sales in the domestic and international market, for the month of November 2019, which stood at 41,124 vehicles, compared to 55,074 units during November 2018," the filing said.

The company sold 27,657 commercial vehicles in the country during the period under review, a 17 per cent decline from the sale of 33,488 units a year ago. Exports of its commercial vehicles slumped 34 per cent to 2,931 units.

Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors said: "As we move closer towards BS-VI transition, focus continues to be gradual stock reduction, with retail sale in November being higher than wholesale by over 10 per cent. Medium and Heavy Commercial vehicle sales grew by 23.6 per cent over previous month, as enquiries continue to increase gradually, with fleet owners realizing the economic benefits of replacement of their older vehicles."

Sales of its passenger vehicles was also severely hit with a 39 per cent drop in sales last month to 10,400 units.

Commenting on the sales performance, Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors said: "After an encouraging festival period, in November, industry declined sharply. In addition, industry is also preparing for the BS-VI transition."

"In line with our strategy to focus on retails, we have further enhanced our network coverage. Our retail sales were more than wholesales by 15 per cent, which has helped us to reduce the network stock by 35 per cent in this fiscal," he added.

Source: IANS