Indian automobile giant Tata Motors Ltd. Saturday said its total sales last month declined by 17 percent as compared to sales logged during October 2013.
In a statement, the company said its total sales, including exports of commercial and passenger vehicles last month stood at 42,819 units as against 51,638 units sold in October 2013.
The company's domestic sales of commercial and passenger vehicles last month were 38,760 units, down from 46,926 units sold in October last year.
The decline was largely as the market continues to remain challenged by macroeconomic trends: while segments such as medium and heavy commercial vehicles (M&HCV) showed a 30 percent growth year-on-year, other segments such as the light commercial vehicles (LCV) sales continues to remain impacted by stringent financial rates and low consumer sentiment, Tata Motors said.
Cumulative sales (including exports) for the company for the fiscal are 279,489 units, lower by 22 percent over 356,380 units sold last year.