Tata Motors Limited today announced its sales in the domestic & international market, for the month of September 2019, which stood at 36,376 vehicles, compared to 69,991 units during September 2018.
According to Mr. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd., "With the ongoing subdued demand, we continued our focus on system stock correction by driving retail and aligning production. Retail sales are estimated to be ahead of wholesale by over 16% in September and over 27% in Q2, reducing the overall stock level to the lowest for the last 6 quarters. We are monitoring the impact of the relief package announced by the Government, and look forward to improved demand from revival in consumption and spend in infrastructure projects."
Total MHCVs sales including MHCV Truck, Buses and International Business stood at 7,055 units compared to 19,441 units last year.
Domestic - Passenger Vehicles:
According to Mr. Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd., "Towards the end of the month, there was an encouraging response in terms of customer foot falls. The customers have responded well to our festive offers as reflected in 11% more retail in September 2019 compared with August. However, the industry continued to decline in September.
Our focus continued to be on retail in line with our strategy of New Paradigm. In September 2019, our retail was 31% more than offtake as a result dealer stock came down by around 10%. During H1 of FY19, network stock has been reduced by 21%, lowest in last 10 quarters. This helped in rotation of dealer working capital and preparing the network for the upcoming festival season.
With continued focus on the retail capability enhancement, we have added 82 sales outlet and 3000+ sales executives in the system in this fiscal. Our new launches, Harrier Dark Edition and Nexon KRAZ+ received encouraging response. We are hopeful that the upcoming festival season will bring positive momentum in the market and we are prepared to embrace it."
Shares of TATA MOTORS LTD. was last trading in BSE at Rs.115.35 as compared to the previous close of Rs. 117.45. The total number of shares traded during the day was 3384596 in over 10709 trades.
The stock hit an intraday high of Rs. 119.8 and intraday low of 113.05. The net turnover during the day was Rs. 395348256.