- Reports 33.6 per cent decline in cumulative sales for October 2019
- Passenger vehicle sales drops by 28 per cent
- Reduces network stock by 38 per cent for smooth BS-VI transition
Tata Motors, one of largest utility vehicle manufacturer in the country, has reported a 33.6 per cent decline in sales with a cumulative sale of 41,354 units in the domestic and international markets as compared to 62,264 units sold in October 2018. Moreover, the company has witnessed a 32 per cent drop in sales with 39,152 units sold in October 2019 as against 57,710 units that were sold in the same period last year.
The passenger vehicle sales have also dropped by 28 per cent with 13,169 units sold in October 2019 as against 18,290 units sold in October 2018. Speaking on the occasion, 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 per cent 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 per cent increase month-on-month.”
He further added, “In this fiscal, network stock has been reduced by 38 per cent. October end network stock is the lowest in last two years. This will help our network to be prepared for a smooth BS-VI 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.”
