Tata Motors sales up 14% to 48,988 units in August
New Delhi: Home-grown auto major Tata Motors on Friday reported 13.64% increase in total sales at 48,988 units in August. The company had sold 43,105 units in the same month of 2016, Tata Motors said in a statement.
The company’s domestic sales of commercial and passenger vehicles in August were at 45,906 units as against 36,510 units in the same month a year ago, up 25.74% on the back of growing demand across segments and increased positive customer sentiments, it added.
Sales of passenger vehicles in the domestic market grew by 10.29% to 14,340 units in August as against 13,002 units in the same month of 2016.
Tata Motors president (passenger vehicles business unit) Mayank Pareek said the sales growth has been on the back of strong performance of the new generation cars like Tiago, Tigor and Hexa. “With Ganesh Chaturthi, we have entered the festive season and we expect the growth momentum to continue,” he added.
In the commercial vehicle segment, the company said its domestic sales were up 34.53% at 31,566 units in August as against 23,464 units in the year-ago period. Overall sales of Tata Motors’ MHCV (medium and heavy commercial vehicle) trucks were at 10,926 units as against 7,190 units in August 2016, a growth of 51.96%.
Increased imposition of restrictions on overloading, growing momentum in infrastructure, mining and construction segments have boosted the demand in the MHCV segment, Tata Motors head (commercial vehicle business unit) Girish Wagh said. “In line with our turnaround strategy, we will be introducing new products and will continue to undertake appropriate measures to improve our performance across segments,” he added.
On the exports front, Tata Motors said its overseas shipments in August were at 3,082 units compared to 6,595 units in August 2016, down 53% due to continued drop in industry volumes in Sri Lanka and Nepal.
- Gold prices recover on renewed buying; silver surges
- Activists meet women’s commission to investigate rights violation of Hadiya
- Kerala looks to give three-year jail term and Rs2 lakh fine for polluters of rivers
- Reliance Capital to list home finance unit on 22 September
- Tax department’s e-filing portal out of action for 2 hours