Getting ready for a seamless BSVI transition. Focus on retail sales and reducing system inventory continues
Tata Motors Ltd has registered total domestic sales of 38057 units in November 2019, a drop of 25% YoY as against 50470 units in November 2018.
Domestic - Commercial Vehicles:
Total Commercial Vehicles sales was at 30588 units in November 2019, as compared to 37957 units in November 2018, a drop of 19% YoY. Domestic sales was at 27657 units in November 2019, as against 33488 units in November 2018, a drop of 17% YoY. CV Exports stood at 2931 units in November 2019, a drop of 34% YoY as compared to 4469 units in November 2019.
According to Mr. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd., "As we move closer towards BSVI transition, focus continues to be gradual stock reduction, with retail sale in November being higher than whole sale by over 10%. Medium and Heavy Commercial vehicle sales grew by 23.6% over previous month, as enquiries continue to increase gradually, with fleet owners realizing the economic benefits of replacement of their older vehicles. Overall system stocks being at a multi-quarter low, coupled with increasing enquiries for replacement demand, will help firm-up volumes and realizations in next few months.
Total M&HCVs sales in November including M&HCV Truck, Buses and International Business stood at 7,736 units compared to 13,162 units Last year.
Domestic - Passenger Vehicles:
Total Passenger Vehicles sales was at 10400 units in November 2019, as compared to 16982 units in November 2018 registering a drop of 39% YoY.
According to Mr. Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd., "After an encouraging festival period, in November, industry declined sharply. In addition, industry is also preparing for the BSVI transition.
In line with our strategy to focus on retails, we have further enhanced our network coverage. Our retail sales were more than wholesales by 15%, which has helped us to reduce the network stock by 35% in this fiscal. We will continue with these steps that make our network agile and profitable. We are ready for the transition to BSVI with enhanced models in both petrol and diesel options and have a slew of exciting new product launches in the coming months like Nexon EV. Altroz and Gravitas. These, along with the demand for the limited number of remaining BSIV diesel vehicles, coupled with an expected gradual improvement in consumer sentiment should help step change our growth trajectory in the coming months."
Shares of TATA MOTORS LTD. was last trading in BSE at Rs.161.45 as compared to the previous close of Rs. 164.8. The total number of shares traded during the day was 1435477 in over 6297 trades.
The stock hit an intraday high of Rs. 167.7 and intraday low of 160.8. The net turnover during the day was Rs. 236481467.