Mumbai: Automobile major Tata Motors has reported a 48.02 per cent slump in September sales, including exports, on the year-on-year basis.
The company sold 36,376 vehicles in domestic and international markets last month compared with 69,991 in a year-ago month. It reported 50 per cent decline in domestic sales last month to 32,376 units from 64,598 units sold in September 2018.
In case of commercial vehicles, the sale declined by 45.4 per cent to 28,079 units compared with 51,419 units in the year-ago month.
“With the ongoing subdued demand, we continued our focus on the system stock correction by driving retail and aligning production,” Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors, said in a statement on Tuesday.
“Retail sales are estimated to be ahead of wholesale by over 16 per cent in September and over 27 per cent in the second quarter, reducing stock to the six-quarter low. We are monitoring the impact of the relief package announced by the government, and look forward to improved demand from revival in consumption and spend in infrastructure projects,” Wagh said.
Besides, the company sold 8,097 passenger vehicles last month, which is a decline of 56 per cent over 18,429 units traded during the same period last year.
Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors, said, towards the end of the month, there was an encouraging response in terms of customer foot falls.
“The customers have responded well to our festive offers, as reflected in 11 per cent more retail in September compared with August. But the industry continued to decline in September,” Pareek said.