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Tata Motors' domestic sales fall 12 pc to 44,254 units in December

Tata Motors said its commercial vehicle sales in December 2019 stood at 34,082 units as against 40,015 units in the year-ago month, down 15 per cent

Tata Motors | Tata Motors sales | automobile manufacturer

Press Trust of India  |  New Delhi 

Brokerages slashed price targets on Tata Motors after the company reported biggest loss in India’s corporate history. The consensus 12-month price target for the stock is down to Rs 215 from Rs 252 earlier this month. Some brokerages have cut the tar

on Wednesday reported a 12 per cent decline in total vehicle sales in domestic market to 44,254 units in December.

The company had sold 50,440 units in the same month in 2018, said in a statement.

Total passenger vehicle sales last month stood at 12,785 units as against 14,260 units in the same month previous year, down 10 per cent, it added.

President (Passenger Vehicles Business Unit) Mayank Pareek said, "Our focus in December has been to drive retail and minimise the network stock in order to facilitate a smooth transition to BS-VI."

He further said, "Having almost completed our planned production and despatches of BS-IV, we will start moving to BS-VI production and despatches from January and step up our volumes in the coming months."

Tata Motors said its commercial vehicle sales in December 2019 stood at 34,082 units as against 40,015 units in the year-ago month, down 15 per cent.

Tata Motors President (Commercial Vehicles Business Unit) Girish Wagh said retail was higher than wholesales at 13 per cent in December with further stock reduction, as the company moves closer to BS-VI transition.

"Enquiries continued to increase gradually, with fleet owners realising the economic benefits of replacement of their older vehicles now. Increasing enquiries and lower stocks augur well for future volumes and realisation, early indication of which can be seen in December," he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, January 01 2020. 19:25 IST