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Tata Motors slips after weak January auto sales

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Tata Motors' auto sales in the domestic & international market, in January 2020 stood at 47,862 vehicles as against 58,185 units during January 2019, down 17.74% year-on-year (YoY).

Total auto sales, however, registered a 2.04% rise from 46,903 units in December 2019.

Total domestic sales declined 18% to 45,242 units in January 2020 as compared to 54,915 units in January 2019.

Passenger vehicles segment saw sales decline by 22% to 13,894 units while the commercial vehicles sales witnessed 16% fall to 33,860 units in January 2020 over January 2019.

Girish Wagh, president, commercial vehicles business unit, Tata Motors said, "Commercial vehicle domestic sales in January '20 was -15% lower than last year. Retail was ahead of wholesale for 7th straight month in a row, helping further stock reduction, as we move closer to BSVI transition. With increasing buying interest, particularly amongst fleet owners, the M&HCV sale in January'20 was second highest in last seven months. In small commercial vehicles, the buying interest continued to be better than other segments, resulting in a y-o-y growth of 2%."

 

Mayank Pareek, president, passenger vehicles business unit, Tata Motors said, We launched Altroz and the refreshed versions of other BS6 models in January. All these products are safest in their respective segments. We are confident that this 'new forever' portfolio of Tata Motors will set new industry standards. Within the 10 days of launch, Altroz, has built a strong order book which we are preparing to serve. All our products are now converted to BSVI and our network stock of BSIV is low, we are well placed as per as BSIV to BSVI transition. We continued to build our EV portfolio with the highest ever sales of EVs with the launch of long range Tigor EV and Nexon EVs.

Tata Motors is engaged in manufacture of motor vehicles. The company is engaged mainly in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold.

The auto major's consolidated net profit stood at Rs 1,738.30 crore in Q3 December 2019 compared with a net loss of Rs 26,992.54 crore in Q3 December 2018. Consolidated net sales declined 6.8% to Rs 71,051.42 crore in Q3 December 2019 as against Rs 76,264.69 crore in Q3 December 2018.

Shares of Tata Motors fell 1.42% to Rs 163.40. The sales data was announced on Saturday (1 February).

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First Published: Feb 03 2020 | 11:36 AM IST

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