Tata Motors registers 25pct surge in domestic passenger, commercial vehicle business
(9 months ago)
New Delhi , Oct. 1 : Tata Motors Limited witnessed a 25 percent growth over last year for the Domestic Passenger and Commercial Vehicle Business, backed by growing festive demand across segments, increased positive customer sentiments, introduction of new products and strong customer engagement initiatives.
"Business turnaround with focus on the Commercial Business has been on the back of strong product portfolio across segments and intense customer engagement. With a growth of 29 percent in September 2017 compared to last year, our domestic commercial vehicle sales continued to register robust growth for the third consecutive month," said Girish Wagh, Head - Commercial Vehicle Business Unit, Tata Motors.
On the commercial vehicles sales front, in September 2017, figures reported were higher by 29 percent over September 2016. The sales grew on the back of strong ramp-up in production, growing demand for new product launches and higher customer uptick owing to peak festive season buying trends across segments. Additionally, the sales were boosted by strong growth in e-commerce segment sales and growing demand under Swachh Bharat drive.
The M and HCV trucks segment grew by 25percent, at 12259 nos., in September 2017. This segment witnessed strong growth in demand on the back of continuously increasing acceptance of Tata Motors' SCR technology, infrastructure development led by government funding and restrictions on overloading creating greater demand for new high tonnage vehicles, especially for our new launches of 37T multi axle trucks and 49T tractor trailers.
The I and LCV truck segment also saw an upward trend and grew by 34percent with 4449 units in September 2017 driven by the performance of new product introductions and increased festive season demand.
The pickup category segment at 5569 units in September 2017 reported a strong growth of 50percent with our newly launched Tata Xenon Yodha gaining acceptance and demand across markets while the SCV cargo segment with sales at 10040 units witnessed a growth of 40percent at the back of strong response to XL range. Our passenger carrier (including buses) segment sales were at 4362 units, almost similar to last year.
In September 2017, Tata Motors passenger vehicles, recorded sales of 17286 units, growth of 18percent, over September 2016. This was augmented by the strong growth momentum for new generation vehicles Tiago, Tigor and Hexa. The newly launched compact SUV, Tata Nexon has also received a tremendous response in the market.
Cumulative sales growth of passenger vehicles in the domestic market for the fiscal (April-Sept 2017) were at 81417 units, a growth of 12percent, compared to 72665 units, in the same period last fiscal.
On the exports front, the company's sales was at 3887 nos. in September 2017, a decline of 27percent, due to continued drop in TIV in Sri Lanka (by 54percent) and Nepal (by 47percent).