MUMBAI:
Tata Motors Limited today announced its sales in the domestic & international market, for the month of October 2019, which stood at 41,354 vehicles, compared to 62,264 units during October 2018.
Domestic – Commercial Vehicles:
According to Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd., “With our continued focus on retail acceleration, retails in October were 24% ahead of wholesale. Additionally, wholesales improved by 7% over September. The enquiries have increased compared to last month in M&HCV and I&LCV, with fleet owners initiating discussions for replacement of older vehicles. We will continue our focus on system stock reduction as we prepare for the BS6 transition. Overall system stock is now at a multi-quarter low, which coupled with increasing enquiries, and the government’s thrust on infrastructure investments, will help firm-up volumes and realisations in the coming months.”
Total M&HCV sales in October including M&HCV Truck, Buses and International Business stood at 6,349 units compared to 15,984 units last year.
Domestic – Passenger Vehicles:
According to Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd., “In line with our New Paradigm, focus was on retail. Results have been encouraging with retails at 36% more than wholesale. Customer response was positive to festive offers and our new product launches like Harrier Dark edition and Nexon Kraz+. In October retail sales were the highest in this fiscal recording a 70% increase month-on-month.
In this fiscal, network stock has been reduced by 38%. October end network stock is the lowest in last two years. This will help our network to be prepared for a smooth BS6 transition. Our endeavour is to enhance the retail capability by continuously adding new sales outlets and executives. We remain optimistic that the positive sentiments of the festive season will lead to a structural recovery in the market.”
