Tata Motors' commercial and passenger vehicles sales dropped by 8 per cent at 50,440 units in December 2018 as against 54,627 in 2017. The 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) was at 497,972 units compared to 398,764 units over last year, a growth of 25 per cent.
Tata Motors' passenger vehicles business sales recorded a growth of 1 per cent, 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. Cumulative sales growth of PV in the domestic market for the fiscal (April-December 2018) were at 156,397 units, a growth of 21 per cent, compared to 129,229 units, in the same period, last fiscal.
The company's commercial vehicle business declined in December 2018 at 36,180 units, by 11 per cent, compared to 40,447 units sold in December 2017, Cumulative sales for the fiscal (April-December 2018) at 341,575 units have grown by 27 per cent, compared to 269,535 units sold last year same period. The M&HCV truck segment declined by 27 per cent, at 11,506 units, compared to 15,828 units over last December. This segment was largely impacted by drop in cargo sales due to low consumer sentiments.
The I&LCV truck segment reported sales of 4,846 units, relatively unaffected with a marginal decline of 5 per cent over last year. The demand in I&LCV sales has been led by the e-commerce sector, increased rural consumption, supported by new products. The SCV Cargo and Pickup segment continued its growth momentum with sales of 16,367 units, up by 8 per cent over 15,105 units sold in December 2017
The company's sales from exports from both commercial and passenger vehicles businesses in December 2018 was at 3,999 units as against 6,293 units in December 2017, lower by 36 per cent, due to sharp TIV contraction in Bangladesh due to elections and political uncertainty in Sri Lanka.
