Tata motors records 3% sales drop at 57,221 units as against 58,993 units sold over last year. Whereas the cumulative sales for domestic market (April 2018 to February 2019) grew by 18% with 6,10,108 units compared to 5,17,198 units over the same period last year.
Domestic – Passenger Vehicles
Passenger vehicles built up 2% sales at 18,110 units compared to 17,771 units sold last year. The newly launched Harrier received good response in the market. Also, the next generation Tata car are found preforming descent in the market. Cumulative sales too raised by 15% from April 2018-February 2019. 1,92,333 units were sold out compared to 1,67,055 units in same period last year.
Domestic – Commercial Sales
The sales for commercial vehicles declined by 5% in February 2019. 39,111 units were sold compared to 41,222 units sold last year. Slowing economic activity, high interest rates, lag effect of implementation of revised axle load norms, slowing industrial output and declining IIP growth index became the main reasons for the sales descend.
The M&HCV truck segment declined by 18% at 12,437 units, compared to 15,241 units sold in February 2018, due to low demand as a result of revised axle lead norms. The tipper segment experienced 22% strong growth due to increasing construction, irrigation and affordable housing projects.
The I&LCV truck segment posts 4% sales growth with 5,017 units sold out compared to 4,810 units last year. The effect of increased axle norms haven’t affected the segment.
The SVC cargo and pickup segment hikes up by 9% in February 2019. 17,417 units sold out this month, over last year. The evolving hub-spoke model, demand for the last mile connectivity across the rural and urban markets, and Swachch Bharat initiatives have led to increase in demand in this segment.
The commercial passenger carrier segment recorded sales of 4,240 units, lower by 18% as compared to 5157 units sold in February 2018. This segment has been impacted due to the slowdown in the procurement of buses by STUs and the permits for private hiring. However, in the light commercial passenger carrier segment, the order book for Winger ambulances is strong at 3000 units and the introduction of the new 15-seater Winger has witnessed good traction.
Company’s sales from export were down by 39% compared to last year, due to, congestion at Bangladesh border, new regulations and political uncertainty in Sri Lanka and slump in Middle East automotive market.