Tata Motors sales decline by 6 percent in second quarter
Tata Motors expects retail sales of passenger vehicles to continue to grow in the current quarter due to year-end demand. A senior official of the company gave this information. According to automobile industry body FADA, due to festive demand, retail sales of passenger vehicles increased by 32 percent year-on-year in October and reached 4,83,159 units. During the 42-day festive period this year, the segment grew by 7 per cent year-on-year to 6,03,009 units.
Tata Motors sales decline by 6 percent in second quarter
However, in September 2024, retail sales of passenger vehicles saw a decline of 19 percent and came to 2,75,681 units. Tata Motors’ passenger vehicle sales declined by 6 percent on an annual basis during July-September. Shailesh Chandra, managing director, Tata Motors Passenger Vehicles, said in a call with analysts, “In the third quarter, we expect retail sales to remain strong due to festivals and better demand at the end of the year. The industry’s wholesale sales may be lower than retail sales to reduce inventories ahead of the new year.
Company’s focus will be on increasing sales with new models
Shailesh Chandra said the company will focus on increasing retail sales by introducing new models, which will also be supported by marketing campaigns. Tata Motors is planning to launch new models including Harrier EV and Sierra EV in the next two years. Chandra said strong retail sales in October helped reduce inventory to less than 30 days for most of the company’s dealers. He said the reduced inventory would have significantly reduced financing costs for dealers. Chandra said that the company will continue its efforts to bring electric vehicles into the mainstream.
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