Tata Motors posts strongest car sales in four years at 28%
MUMBAI: Leading automaker Tata Motors BSE -2.52 % today
said its group sales grew 21 per cent in October while car sales posted the
highest sales in four years with a growth of 28 per cent on strong festive
demand.
Total sales (passenger and commercial vehicles), including exports, rose to
52,813 units in October, posting a growth of 21 per cent, over 43,486 vehicles
sold in the same month last year.
The hatchback Tiago, which was launched in April, continues to be the volume
driver, with retail showing a firm pick-up, the company said, adding that
commercial vehicle sales recorded 15 per cent growth to 30,169 units, the
highest this year.
Passenger vehicle business president Mayank Pareek attributed
the strong numbers to festive demand, which helped the company record the
highest sales in the past four years with a growth of 28 per cent in October.
"While we have been growing month-on-month, the festive season has further
ushered in strong growth impetus for us. The Tiago continued to receive strong
response and the Zest retails were highest since launch. All our other models
also saw better traction," Pareek said.
Commercial vehicles (MCHV) sales grew 9 per cent after four months of negative
growth while LCVs continued the upward trend with a growth of 21 per cent
following bullish festive demand.
Exports jumped 39 per cent led by solid demand for commercial vehicles.
While total domestic sales jumped 19 per cent to 46,480 units, the same for the
first seven months rose 9 per cent to 3,11,629 units.
The company continued to witness year-on-year growth in certain key segments,
with its car sales growing the best in four years by 28 per cent, while CV
sales recorded the highest this year, growing 15 per cent, and LCVs grew at 21
per cent on strong demand in the festive season.
Domestic passenger vehicles sales saw the highest numbers in four years at
16,311 units, compared with 12,747 units last October. The uptick was driven
primarily by the continuing momentum for the Tiago.
Its exports rose to 6,333 units, up 39 per cent from 4,569 in October 2015. So
far this fiscal, cumulative exports stood at 37,802 units, up 15 per cent from
32,770.
Source : Tata
Motors posts strongest car sales in four years at 28%