Domestic sales of Tata Motors passenger vehicles fell 58 pcs in August
New Delhi, September 1 () The home-grown automaker Tata Motors reported a 58 percent decrease in domestic sales of passenger vehicles to 7,316 units in August.
The company had sold 17,351 units in the same month last year, Tata Motors said in a statement.
Commenting on sales performance, the president of Tata Motors, Passenger Vehicle Business Unit, Mayank Pareek, said the market continued to be a challenge, but that the company has focused on improving its retail sales, which they recorded an increase of 42 percent.
We hope that the financial package recently announced by the finance minister will help improve market liquidity and reduce the cost of ownership. This will certainly help the industry revive and boost growth, he added.
In the commercial vehicle segment, Tata Motors said its total sales decreased 45 percent to 21,824 units last month compared to 39,859 units in August 2018.
The president of Tata Motors, the Business Unit of Commercial Vehicles Girish Wagh, said that the feeling of moderate demand due to low availability of cargo, lower loading rates and the general slowdown in the economy continued to hamper the demand for vehicles commercial.
The reduction of the system's stocks through the retail approach and the alignment of production will continue to be our focus, while we carefully monitor the market during these difficult times, he said, adding that, as a result, it is estimated that retail sales They are above wholesale sales by more than 25 percent. in August. We expect a positive impact from the stimulus package recently announced by the government, Wagh said. RKL RVK