New Delhi: Homegrown auto major Tata Motors Monday reported 14 per cent decline in total sales at 49,073 units in June.

The company had sold a total of 56,773 units in the same month last year, Tata Motors said in a regulatory filing.

Passenger vehicle (PV) sales in domestic market dropped by 27 per cent to 13,351 units as compared with 18,213 units in June 2018 on weaker customer sentiments due to liquidity crunch, the company said.

"Industry continued to remain stressed. However, the market is expected to bounce back soon," it added.

On the commercial vehicles (CV) front, domestic sales were at 35,722 units as against 38,560 units in the same month last year, down 7 per cent.

"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," it said.

The slowing down of the economy is hurting overall customer sentiments and causing an impact on demand for fresh vehicles, Tata Motors said.

Exports (CV and PV) in June 2019 stood at 2,702 units, lower by 48 per cent over June 2018, due to drop in retails in Bangladesh, Nepal and the Middle East markets, it added.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

Close
×
My Reads Logout