Leading
automobile company Tata Motors recorded a decline of 31% in passenger vehicle domestic
sales at 10,485 units, as compared to July 2018 sales which is in line with the
decline on the industry (31%), and as a result market share remained same as
last year. The cumulative sales in the domestic market for the fiscal (April
2019 -July 2019) were at 47,430 units, a drop of 32%, compared to units sold,
in the same period last year.
“In
July 2019 despite the challenging market condition, the Passenger Vehicles
retail sales was marginally better than whole sales, resulting in a slight
reduction in the dealer stock. We worked on increasing our retail sales by
increasing our footprints. In April-July 2019, we added 48 new sales points
across country, which includes 30, added in July 2019. Dealer network has added
over 2600 sales executives in our quest to increase sales,” the company
statement added.
This
month was also very special for the company as it witnessed two important
milestones – the roll out the 100,000th Nexon and the celebration of 10,000
customers for the Harrier with the launch of its new dual tone version.
The
market continues to exhibit subdued demand sentiment as customers are
postponing purchases given the poor freight availability, the falling freight
rates impacting their viability. The slowing economy, excess capacity created
on account of increased axle load norm, slowdown in execution of infrastructure
projects over past few quarters, drop in discretionary consumption, and poor
liquidity conditions in tight financing environment have led to severe
contraction in total industry volumes across segments, the company said.