One of India’s largest car manufacturers, Tata Motors, recently announced its total sales in the Domestic and International market, for October 2019. The company managed to sell a total of 41,354 vehicles in October 2019, which is quite less when compared to the 62,264 units that were sold in October last year. Also, Tata was able to sell 39,152 vehicles in the domestic market and about 2,202 vehicles in the International market in October 2019. This change in sales figures is almost a 32% decline when compared to last year’s sales records.
According to Mr Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd., “With our continued focus on retail acceleration, retails in October were 24% ahead of wholesale. Additionally, wholesales improved by 7% over September. The enquiries have increased compared to last month in M&HCV and I&LCV, with fleet owners initiating discussions for replacement of older vehicles. We will continue our focus on system stock reduction as we prepare for the BS6 transition. Overall system stock is now at a multi-quarter low, which coupled with increasing enquiries, and the government’s thrust on infrastructure investments will help firm-up volumes and realisations in the coming months.”
According to Mr Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd., “In line with our New Paradigm, the focus was on retail. Results have been encouraging with retails at 36% more than wholesale. Customer response was positive to festive offers and our new product launches like Harrier Dark edition and Nexon Kraz+. In October retail sales were the highest in this fiscal recording a 70% increase month-on-month. In this fiscal, network stock has been reduced by 38%. October end network stock is the lowest in the last two years. This will help our network to be prepared for a smooth BS6 transition. Our endeavour is to enhance retail capability by continuously adding new sales outlets and executives. We remain optimistic that the positive sentiments of the festive season will lead to a structural recovery in the market.”
Also, Tata Motors recently partnered with Orix India, to provide all potential customers with the convenience to test drive the Harrier at their doorstep. This first-of-its-kind service is called a Priority Test Drive and it is an initiative rolled out by the new partnership between the two companies. This industry-first service will initially be available for customers based in Mumbai and Delhi-NCR, and will soon be extended to other cities in the country.