Tata Motors continues to post higher than industry growth rate for yet another month. The Indian car maker posted an 11% sales growth in the passenger vehicle segment during October 2018 – a month in which the auto industry posted just 2% growth (Maruti posted 1.5% growth).
Passenger car sales of Tata Motors stood at 18,290 units for Oct 2018 as against 16,475 units sold in October 2017. Cumulative sales posted by Tata Motors in the PV segment for the April to October 2018 period stands at 125,155 units. This when compared to same period last year, when the company posted sales of 97,892 units, is a growth of 28%.
Helping Tata Motors achieve this staggering growth in such times is their new gen cars like the Tiago, Tigor and the Nexon. All three cars together help Tata post over 12,000 units a month. The company has successfully launched new Tigor, Tiago NRG, Tiago JTP, Tigor JTP and Nexon Kraz in recent months, which helps with sales growth. With the Harrier launching soon, the company can expect to further grow their sales in PV segment.
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.”
Speaking about commercial vehicle sales of Tata, they posted 39,420 units sales in Oct 2018, which is 22% higher than same month last year. Cumulative sales of Tata CVs for the fiscal April to Oct 2018 stands at 271,907 units, which is a growth of 40%. Speaking about exports – The company’s sales from exports (from CV and PV) in October 2018 was at 4,554 units as against 4,311 units in October 2017, up by 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. “