Tata Motors Nov 2018 car sales decline- New Tiago variant launch soon
Passenger car sales declined by 1%. Cumulative sales declined by 4%.
For November 2018, Tata Motors passenger vehicles domestic sales has been reported at a decline of 1 percent. In the larger scheme of things, the month has been challenging for manufacturers owing to muted consumer sentiment basis liquidity crunch, and non-availability of retail finance. Furthermore, this festive season has been moderate at best.
Tata Motors Passenger Vehicles (PV) domestic sales stood at 16,982 units as compared to 17,157 units sold in November 2017. While sales numbers haven’t grown by leaps and bounds, Tata Motors says recent launches – Tiago NRG, Nexon Kraz limited edition, all-new Tigor and JTP variants have enjoyed a good response.
In December 2018, Tata has planned two launches – New Tiago XZ+ top variant and that of Nexon Kraz White colour. Next month, the car maker will launch the much awaited Harrier. These new launches could help the automaker increase their sales further.
Cumulative PV sales growth in Africa for the fiscal (April-November 2018) are reported at 142,137 units at a growth of 24 percent over 115,049 units sold in the same period in the last fiscal. Tata Motors exports (CV and PV) in November 2018 are reported at 4,604 units, down by 7 percent from 4,927 units shipped overseas in November 2017. This is largely due to sharp TIV contraction in Bangladesh owing to elections, and political uncertainty in Sri Lanka.
In November 2018, Tata Motors domestic sales (PV and CV) were reported at 50,470 units, which is an overall 4 percent sales decline, down from 52,464 units sold in Nov ’17. This tepid performance comes after 7 months of strong growth and is attributed in part to higher interest rates and rising fuel costs. Cumulative sales for the domestic market (April-November 2018) stands strong at 447,532 units at 30 percent growth over 344,137 units sold in the same period last year.
Mr. Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, “We are positive that we will leave no stones unturned to bounce back at the earliest and hope that the liquidity situation is resolved soon. We are all geared up and exhilarated as we step closer to the global preview of the much awaited Tata Harrier. I am happy to announce that the Harrier has received an unprecedented response by our customers even before being physically showcased. With its launch in the pipeline and with our existing new generation product range, we will continue to strive towards driving volumes and increasing our market share as part of our on-going turnaround journey.”