Tata Motors registers 26 pct sales hike; exports decline by 53 pct
(10 months ago)
New Delhi , Sept 1 : Automotive manufacturing company Tata Motors on Friday announced that passenger and commercial vehicles total sales (including exports) in August 2017 were at 48,988 vehicles, thus recording a 14 percent surge compared to August 2016.
The company reported domestic sales of commercial and passenger vehicles for August 2017, which stood at 45,906 nos., higher by 26 percent, over 36,510 nos., in August 2016, due to growing demand across segments and increased positive customer sentiments.
The overall commercial vehicles sales in August 2017, in the domestic market were at 31,566 nos. higher by 34 percent over August 2016. The sales grew on the back of growing demand across segments supported by the continued ramp-up in production of BSIV vehicles since April this year.
The company also passed on the benefits of the Goods and Services Tax (GST) to consumers by reducing the prices of its vehicles across all commercial vehicle segments.
The M and HCV segment saw a strong growth of 52 percene, at 10,926 nos., in August 2017, over 7,190 units, in August 2016. This segment witnessed strong pick-up in demand on the back of continuously increasing acceptance of the SCR technology, and driven by stricter implementation of regulatory norms on overloading, as well as sector specific (Trucks and Construction Tippers) demand.
The I and LCV truck segment also saw an upward trajectory, at 3,881 nos., grew by 44 percent, over 2,703 vehicles, sold in August 2016, due to increased buying with the onset of festive season.
Tata Motors Passenger Carriers sales (including buses), in August 2017 were at 4,078 nos., declined by 4 percent, over 4,238 units, in August 2016, largely due to delay in procurement from the State Transport Undertakings.
The SCV cargo and pickup segment continued the growth momentum at 12,681 nos., higher by 35 percent over 9,377 units, last August 2016, on the back of growing demand for new product introductions of the XL range of Tata Ace and the Tata Xenon Yodha pickup.
In August 2017, the company in its domestic market recorded sales at 14,340 nos., which grew by 10 percent, over August 2016, bolstered by the strong demand for the Tata Tiago and the Tata Tigor. The car segment remained flat at 11,462 nos., and the UV segment grew by 84 percent at 2,878 nos., driven by the Tata HEXA.
Cumulative sales growth of all passenger vehicles in the domestic market for the fiscal was at 64,131 nos., recording a growth of 10 percent compared to 58,064 nos., in the last fiscal.
Meanwhile, Tata Motors sales from exports was at 3082 nos. in August 2017, recording a 53 percent decline, compared to 6,595 vehicles sold in August 2016, due to a continued drop in industry volumes in Sri Lanka and Nepal.
"The increased imposition of restrictions on overloading, growing momentum in the infrastructure, mining and construction segments and continued increasing acceptance of the SCR technology has further boosted the demand in the M and HCV segment resulting in a robust 52 percent growth. In line with our turnaround strategy, we will be introducing new products and will continue to undertake appropriate measures to improve our performance across segments," said Girish Wagh, Head - Commercial Vehicle Business Unit, Tata Motors.