Tata Motors sales rise 25% in September on commercial vehicles growth
The company's overall commercial vehicle sales grew 29% at 36,679 units in the reporting period
Key highlights:
- Tata Motors on Sunday reported a 25% increase in domestic sales at 53,965 units in September
- The company had sold 43,031 units in September 2016
- The sales were boosted by a strong customer acceptance of SCR technology and the continued ramp up of our BS4 vehicles production
Tata Motors on Sunday reported a 25% increase in domestic sales at 53,965 units in September.
The company had sold 43,031 units in September 2016, Tata Motors said in a statement.
Tata Motors head-commercial vehicle business unit, Girish Wagh said that the sales were boosted by a strong customer acceptance of SCR technology and the continued ramp up of our BS4 vehicles production.
The company's overall commercial vehicle sales grew 29 % at 36,679 units in the reporting period, he added.
The sales grew on the back of strong ramp-up in production, growing demand for new product launches and higher customer uptick owing to peak festive season buying trends across segments. Additionally, the sales were boosted by strong growth in e-commerce segment sales and growing demand under Swachh Bharat drive.
The medium and heavy commercial vehicle (MHCV) trucks segment grew by 25%, at 12259 units, in September 2017.
This segment witnessed strong growth in demand on the back of continuously increasing acceptance of Tata Motors’ SCR technology, infrastructure development led by government funding and restrictions on overloading creating greater demand for new high tonnage vehicles, especially for our new launches of 37T multiaxle trucks and 49T tractor trailers.
The I&LCV truck segment also saw an upward trend and grew by 34% with 4449 units in September 2017 driven by the performance of new product introductions and increased festive season demand.
The pickup category segment at 5569 units in September 2017 reported a strong growth of 50% with our newly launched Tata Xenon Yodha gaining acceptance and demand across markets while the SCV cargo segment with sales at 10040 units witnessed a growth of 40% at the back of strong response to XL range.
Their passenger carrier (including buses) segment sales were at 4362 units, almost similar to last year.
Tata Motors passenger vehicles, recorded sales of 17,286 units, growth of 18%, over September 2016.
This was augmented by the strong growth momentum for new generation vehicles Tiago, Tigor and Hexa, it said in a statement.
The newly launched compact SUV, Tata Nexon has also received a tremendous response in the market.
Cumulative sales growth of passenger vehicles in the domestic market for the fiscal (April-Sept 2017) were at 81417 units, a growth of 12%, compared to 72665 units, in the same period last fiscal.
(With inputs from PTI)
ALSO READ:
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
04:42 PM IST