Overall an impressive run for Tata Motors this time around...
India's own Tata Motors records impressive sales in October 2018 across various segments. The Commercial Vehicles (CV) sales have had a notable 22% growth in October 2018 over those at the same time last year, with the figures finally hitting 39420 units, a result of the continued acceptance of the BS4 products.
The M&HCV truck segment has kep up its strong growth momentum pretty well selling 13,185 units till date, (16% growth over last year) The BS4 Signa and Prima Trucks are gaining greater acceptance among Indians.'
The I&LCV truck segment reported a growth of 29%, over October 2017.selling 4,841 units, till date. The recently launched Tata Ultra range of ILCV trucks is fast sprinting to popularity.
The SCV Cargo and Pickup segment managed to sell 18,209 units, (30% more than the previous year). The new Tata Ace Gold is witnessing a strong consumer demand in the country.
However the commercial passenger carrier segment witnessed a 2% drop in sales from Last October, and has managed to sell just 3,185 units this time around.
The Domestic Passenger Vehicles (PV) segment could only have a meagre 2% growth in the month of October. The PV sales tipped at 18,290 units this time, an impressive 11% growth from last year. Cumulative sales growth of PV in the domestic market for the fiscal (April-October 2018) were at 125,155 units, a growth of 28%, compared to 97,892 units, in the same period, last fiscal.
Mr. Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, “October 2018 was yet another month wherein Tata Motors outstripped the industry growth. While the industry grew at 2%, Tata Motors saw a robust growth of 11%. We are therefore pleased to sustain positive traction despite strong headwinds such as hike in fuel prices, higher interest rates and increase in insurance premium. We hope to continue this momentum in the approaching months on the back of our recent launches and the highly anticipated introduction of our SUV, Harrier.”
Tata Motors has so far introduced 4 new products interventions this year, viz. Tiago NRG, Nexon KRAZ limited edition, all-new Tigor and the JTP range of cars.
The exports have boomed this year by a notable 6%!
Mr. Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd. said, “Tata Motors Commercial Vehicles Business continues its growth momentum with an increase of 22% in October 2018 sales. The acceptance of our complete range of BS4 vehicles across category segments has been a critical factor for the strong growth trajectory. Despite the growth in CV sales being marginally impacted by the current liquidity crunch in the market, the industry is still upbeat with strong economic activity, bolstered by growth in IIP and core sectors. An early resolution to the liquidity crunch issue in the market will help sustain the growth momentum with fundamental drivers of demand still positive. Our M&HCV grew by 16%, 29% increase in the ILCV truck segment, 30% growth in SCV Cargo & Pickup, while CV Passenger degrew by 2% over last year.“
The numbers and stats aside, lets have another look at the first Harrier rolling off the production line...