Tata Motors has announced that the trend of muted consumer sentiments has continued in December 2018, impacting the sales performance of Tata Motors Commercial and Passenger Vehicles Business in the domestic market.
The company sold 50,440 units in the month of December 2018 as against 54,627 Units sold in December 2017. As per the company, In December 2018, liquidity crisis in the industry, higher interest rates and rising fuel costs continued to impact the commercial vehicle sales, with M&HCV and I&LCV segment witnessing a decline while the passenger vehicle business bounced back.
The cumulative sales for the domestic market (April-December 2018) were pegged at 4,97,972 units compared to 3,98,764 units over last year, a growth of 25%.
Tata Motors’ Commercial Vehicles (CV) domestic sales declined in December 2018 at 36,180 units, by 11%, compared to 40,447 units sold in December 2017, which was an exceptional month last year as demand had spiked due to the change in regulations and the resultant price increase expectations. The Sales in M&HCV truck segment declined by 27%, at 11,506 units, compared to 15,828 units over last December. The I&LCV truck segment reported sales of 4,846 units, relatively unaffected with a marginal decline of 5% over last year. The SCV Cargo and Pickup segment continued its growth momentum with sales of 16,367 units, up by 8%, over 15,105 units sold in December 2017.
The Tata Motors Passenger Vehicles (PV) domestic sales recorded a growth of 1%, at 14,260 units as compared to 14,180 units sold in December 2017, due to good demand for new generation passenger vehicles. The company is gearing up for the launch of its much awaited SUV, Tata Harrier, in January 2019.