Tata Motors sold 7,316 Passenger Vehicles in the domestic market in August 2019 as against 17,351 PVs in the same period last year, registering a decline of 58 percent.
Under the challenging market situation, we continued to focus on improving retail sales. Our retail sales were 42% more than offtake and as a result, the network stock came down by over 3000 vehicles. This prepares dealers well for the festival season. Our prime focus remains on the working capital rotation of the channel. Our aim is to improve the retail capability, till August 2019, 72 new sales outlets were added and 3500+ sales executives were recruited. – Mayank Pareek, President, PVBU, Tata Motors
Pareek hopes that the recently announced financial package by finance minister will help in improving the liquidity of the market and to reduce the ownership cost.
As for Commercial Vehicles, Tata Motors sold a total of 21,824 vehicles in August 2019 as against 39,859 units in the same period last year, registering a decline of 45 percent.
Subdued demand sentiment due to poor freight availability, lower freight rates and general slowdown in economy continued to hamper the commercial vehicle demand. System stock reduction through retail focus and aligning production will continue to be our approach, while cautiously monitoring the market, in these challenging times. As a result, retail sales are estimated to be ahead of wholesale by over 25% in August. We are looking forward to a positive impact of the recently announced stimulus package by the Government. – Girish Wagh, President, CVBU, Tata Motors
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