Auto major Tata Motors on Friday reported a 58 percent growth (52,464 units) in its domestic sales backed by robust sale of commercial and passenger vehicles, growing demand across segments, introduction of new products and strong customer initiatives.
Tata Motors' commercial vehicle sales in the domestic market in November were at 35,307 units, registering a growth of 72 percent compared to 20,538 units in November last year. The commercial sector bounced back strongly after the initial disruption in the market, surrounding demonetisation and the BS4 transition that largely affected the transport industry last year.
The company noted that consumption-driven sectors have shown an uptick in sales, since July 2017 and continue even after the festival season. The increased demand for vehicles across segments and production ramp-up of the new range of BS4 vehicles has given a strong boost to the overall sales growth. The cumulative sales performance of commercial vehicles in domestic market grew by 11.5 percent over last year and continues to grow month-on-month.
The M&HCV trucks segment was at 12,851 units, higher by 88 percent, over last year led by the sustained increase in production as well as the strong customer acceptance of the superior range of Tata Motors' BS4 vehicles. The sales growth was also driven by the success of Tata Motors' innovative SCR technology, which has been well accepted by customers.
Increased demand for the new tonnage vehicles, infrastructure development led by government funding and keen focus on customer requirements has helped reviving the performance of the M&HCV segment.
I&LCV truck segment grew by 76 percent over last year, driven by the performance of new product introductions and continued demand.
The pickup segment sales grew by 53 percent over last year at 4,685 units as the recently launched Xenon Yodha continued to gain acceptance and volumes across markets. The SCV sales was reported to be 10,265 units, and witnessed a growth of 77 percent over last year, backed by strong response to the Mega XL range. The commercial passenger carrier segment (including buses) was at 3520 units, witnessing a 36.5 percent growth over last year.
In November 2017, Tata Motors passenger vehicle sales performance was at 17,157 units, with a growth of 35 percent over last year. This was led by the strong growth momentum of new generation Tata cars. To meet the growing demand of its recently-launched compact SUV, Tata Nexon, Tata Motors ramped up its production and in November, and rolled out the 10,000th Nexon from its Ranjangaon facility.
Cumulative sales growth of passenger vehicles in the domestic market for the fiscal (April-Nov 2017) were at 115,049 units compared to 101,712 units in the same period last fiscal, thus registering a 13 percent growth.
On the exports front, Tata Motors sold 4,927 nos. in November 2017, witnessing a decline of 12 percent due to drop in volumes in key commercial vehicles international business markets such as Nepal and Sri Lanka.
However, market share for commercial vehicles international business in all the key markets continue to remain strong and have grown during this fiscal year.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)