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Tata Motors Aug 2019 sales drop by 48.40 pc
Business

Tata Motors Aug 2019 sales drop by 48.40 pc

Agency News

Mumbai Sep 2 : Tata Motors reported a decline of 48.40 per cent in its total sale for the month of August at 32,343 units , compared to 62,688 units during August 2018.

The total domestic sales was at 29140 units in August 2019, as compared to 57,210 units in August 2018, a drop of 49.06 per cent.

The company has reported a 45 per cent drop in sales of commercial vehicles in the domestic market during August 2019 with sales of 21824 units as against 39859 in August 2018.

Mr Girish Wagh, president, Commercial Vehicles Business Unit, Tata Motors Ltd said, "Subdued demand sentiment due to poor freight availability, lower freight rates and general slowdown in economy continued to hamper the commercial vehicle demand. System stock reduction through retail focus and aligning production, will continue to be our approach, while cautiously monitoring the market, in these challenging times. As a result, retail sales are estimated to be ahead of wholesale by over 25 per cent in August. We are looking forward to a positive impact of the recently announced stimulus package by the Government."

The domestic passenger vehicles sales was at 7316 units in August 2019, as against 17351 units in August 2018, registering a drop of 58 pc YoY.

Mr Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd.commented , "Under the challenging market situation, we continued to focus on improving retail sales. Our retail sales were 42 per cent more than offtake and as a result the network stock came down by over 3000 vehicles. This prepares dealers well for the festival season. Our prime focus remains on the working capital rotation of the channel. Our aim is to improve the retail capability, till August 2019, 72 new sales outlets were added and 3500+ sales executives were recruited.

''Marking the onset of the festive season, we will drive positive sentiments with special offers and several special editions. We have kick-started this by further increasing the style quotient of the Harrier with the Harrier Dark Edition. We are hopeful that the recently announced financial package by finance minister will help in improving the liquidity of the market and to reduce the ownership cost. This will certainly help the industry to revive and drive the growth," he added. (UNI)