Mumbai: Tata Motors on Monday reported 14% drop in its June sales at 49,073 units compared to 56,773 units sold over last year owing to mute consumer demand. The cumulative sales for the domestic market (April2019 -.. June 2019) decline by 20% at 131,879 units as compared to 164,579 units sold over the same period last year.
The company’s Commercial Vehicles (CV) sales in the domestic market has dropped by 7% to 35,722 units as against 38,560 units sold in June 2018. The market continues to exhibit subdued demand sentiment as customers are postponing purchases given the poor freight availability, the falling freight rates affecting their viability. The slowing down of the economy is hurting overall customer sentiments and causing an impact on demand for fresh vehicles.
The Domestic Passenger Vehicles sales has dropped by 27%, at 13,351 units, as compared to 18,213 units sold in June 2018 due to low customer sentiments due to liquidity crunch. The cumulative sales in the domestic market for the fiscal (April2019 -June 2019) were at 36,945 units, a drop of 30%, compared to 52,937 units. in the same period last year.
The company’s sales from exports (from CV and PV) in June 2019 was at 2,702 units. lower by 48% over June 2018, due to drop in retails in Bangladesh, Nepal & Middle East markets.