Tata Motors October CV sales drop 34%
Published On Nov 03, 2019
All the segments including cargo and passenger vehicles continue to dwindle in the month.
The commercial vehicle market leader Tata Motors posted a drop of 34 percent in October 2019 domestic sales to 25,983 units, the company sold 39,420 units in October 2018.
Tata Motors has witnessed negative sales across all the segments of the markets. The key M&HCV segment remains largely down which declined by 63% to 4,893 units. (October 2018: 13,185). The ILCVs dip 21 % to the total sales of 3,832 units. Similarly, SCV and pickups are down 15 %down to 15,552 units, and the commercial passenger carrier (bus) segment sank 46% to 1,706 units in the month.
Speaking on the company’s commercial vehicle sales in October 2019, Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors said, “With our continued focus on retail acceleration, retails in October were 24% ahead of wholesale. Additionally, wholesales improved by 7% over September. The inquiries have increased compared to last month in M&HCV and I&LCV, with fleet owners initiating discussions on the replacement of older vehicles. We will continue our focus on system stock reduction as we prepare for the BS6 transition. Overall system stock is now at a multi-quarter low, which coupled with increasing inquiries, and the government’s thrust on infrastructure investments will help firm-up volumes and realisations in the coming months.”