Tata Motors is one of the worst affected due to the current lockdown in India
The world as we knew it no longer rings true. And unless, it’s essential goods being discussed, manufacturing and production has been thrown off-guard. For many, there’s no way of knowing how deep the financial hurt will be. Tata Motors share price on the BSE / NSE is at Rs 67.95; at the end of trading on 1st April 2020 – after much freefalling, and no-one knows when it will hold steady.
While Tata Motors probably did plan 2020 well in advance in regard to product launches, new cars, and BSVI transition, it’s all fallen flat in the face of current developments. Passenger vehicles sales are down 68 percent, down to 5,676 units from 17,810 units. With that, FY20 sales closes at 38 percent decline, down to 1,31,197 units from 2,10,143 units sold in the previous financial year.
Sales has beaten the biggest players in the automotive market, and reduced a once bustling seat of activity to almost nothing. With production schedules reassessed, and the economy uncertain, when such robust activity will resume is another question that will remain unanswered for a while.
Tata Motors Sales Report March 2020
Overall, Tata Motors domestic sales (CV and PV) for FY20 ends at 35 percent decline. Sales fell to 4,42,052 units, down from 6,78,835 units from FY19. Total domestic for March 2020 is reported at 11,012 units, down 84 percent from 68,727 units. Of this total domestic CV sales is reported at 5,336 units, down 90 percent from 50,917 units.
FY20 CV domestic sales is reported at 3,10,855 units, dow 34 percent from 4,68,692 units. Almost all of its BSIV CV stock is retailed, however registration for some in awaited in the backdrop of current lockdown. Once, lockdown is lifted, and a structure is laid out for such registrations, such activity will commence.
In regard to production of BSVI CVs, the company is on track, and the initial vehicles have already been wholesales. CV exports for the month are reported at 68 percent decline at 1,787 units, down from 5,619 units. FY20 CV exports are down 42 percent at 29,845 units, down from 51,085 units in FY19.
With the market beaten, Tata Motors is upbeat about its March sales, and hails customer response for its new Altroz, and refreshed BSVI range of Tiago, Tigor, Nexon and Harrier. BSIV vehicle stock is near zero across the network. From next month, Tata Motors’ wholesale monthly numbers will not be available. Instead, reports will be made available on a quarterly basis.
It has also been announced that Mayank Pareek, President Tata Motors PVs is stepping down, and handing reign over to Shailesh Chandra.