Tata Motors clocks 8 pc drop in total domestic sales in August

Mumbai, Sep 1 (SocialNews.XYZ) Tata Motors on Sunday reported 8 per cent drop in total domestic sales at 70,006 units in the month of August, as against 76,261 units in the year-ago period.

Domestic sales of commercial vehicles — including trucks and buses — fell 16 per cent (year-on-year) to 25,864 units as against 30,748 units in the year-ago period.

Total car sales, including electric vehicles and exports, declined 3 per cent to 44,486 units, as against 45,933 units in the sale month last year.

Domestic sale of MH and ICV in August, including trucks and buses, stood at 12,008 units, compared to 13,506 units in August 2023.

Total sales for MH and ICV (domestic and international) in August, including trucks and buses, stood at 12,708 units compared to 14,016 units in August 2023, the automaker informed.

Indian auto is entering the festive season with muted sales growth as oversized demand for oversized cars far comes off in the world’s third largest automotive industry.

In the April-June quarter in the current fiscal, Tata Motors reported a 74 per cent increase in net profit to Rs 5,566 crore, compared to the same period of the previous year, on the back of higher sales of its UK subsidiary Jaguar Land Rover.

Tata Motors' revenue from operations rose 5.7 per cent to Rs 1,07,316 crore during the first quarter from Rs 1,01,528 crore a year ago. The share of JLR models increased to 68 per cent of the total revenue.

In the Indian market, Tata Motors commercial vehicle revenues grew 5.1 per cent year-on-year to Rs 17,800 crore, while EBIT margins improved 2.4 per cent to 8.9 per cent on the back of better realisations and material cost savings.

Passenger vehicle revenues fell 7.7 per cent, reflecting "challenging market conditions", but EBITDA at 5.8 per cent expanded 0.5 per cent, driven by material cost reductions, according to the company statement.

Source: IANS