Tata Motors registered a strong growth of 18% in the domestic market in October 2018
Deepthi | Myequity news | Date : 01-11-2018 17:45:00 IST
Tata Motors continues its growth momentum in the domestic market registering 18% increase with 57,710 units being sold as against 48,886 units over last year. The cumulative sale for the domestic market (April-October 2018) was at 397,062 units compared to 291,673 units over last year, a growth of 36%. The strong domestic performance of Tata Motors is a result of customized strategies of 'Winning Decisively in CV,' 'Winning Sustainably in PV' and 'Winning Proactively in EV,' which are already underway and delivering results.
Domestic - Commercial Vehicles Domestic - Passenger Vehicles
Tata Motors’ Commercial Vehicles (CV) domestic sales continued to grow in October 2018 at 39,420 units, higher by 22%, over last year October, led by the continued acceptance of the BS4 products. Cumulative sales for the fiscal (April-October 2018) at 271,907 have grown by 40% over last year same period.
The M&HCV truck segment continued its strong growth momentum with 13,185 units, a growth of 16% over last year.
The I&LCV truck segment reported a significant performance at 4,841 units, growth of 29%, over October 2017. The recently launched Tata Ultra range of ILCV trucks is gaining acceptance and contributing to the volume growth.
The SCV Cargo and Pickup segment continued its growth momentum with sales of 18,209 units, up by 30%, over October 2017.
The commercial passenger carrier segment recorded sales of 3,185 units, lower by 2% as compared to October 2017. This segment is impacted due to the slowdown in the procurement of buses by STUs and the permits for private hiring.
October 2018, was a challenging month for the industry and recorded only 2% growth. Tata Motors' Passenger Vehicles (PV) domestic sales registered an impressive performance with 18,290 units, a growth of 11%, compared to 16,475 units in October 2017. Cumulative sales growth of PV in the domestic market for the fiscal (April-October 2018) were at 125,155 units, a growth of 28%, compared to 97,892 units, in the same period, last fiscal.
The recently launched Tiago NRG, Nexon KRAZ limited edition, all-new Tigor and the JTP range of cars have received an overwhelming response in the market. The company expects the fervor to continue with the introduction of Tata Harrier in early 2019. Export
The company’s sales from exports (from CV and PV) in October 2018 was at 4,554 units as against 4,311 units in October 2017, up by 6%. About Tata Motors:
Tata Motors Limited, a USD 45 billion organisation, is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles. Part of the USD 100 billion Tata group, Tata Motors is India’s largest and the only OEM offering extensive range of integrated, smart and e-mobility solutions. Tata Motors has operations in the UK, South Korea, Thailand, South Africa, and Indonesia through a strong global network of 109 subsidiary and associate companies, including Jaguar Land Rover in the UK and Tata Daewoo in South Korea.