Tata Motors CV sales dip (-) 87pc in March 2020; Fiscal sales slump (-) 34pc

Tata Motors Limited recorded a massive (-) 87 per cent fall in sales of commercial vehicles for the month of March 2020 at a mere 7123 units in March 2020 as compared to 56,536 units for March 2019. As for the financial year 2019-20, the company sold 340700 units as compared to 519777 units, a fall of (-) 34 per cent. The biggest slump was in the Medium & Heavy commercial vehicles segment which saw a (-) 90 per cent slump in March 2020 sales.

Total M&HCVs sales in FY20 including M&HCV Truck, Buses and International Business stood at 98,579 units compared to 1,86161 units in FY19.

Girish Wagh, President, Commercial Vehicles Business Unit, Tata Motors Ltd. said, “Cumulatively, commercial vehicle domestic sale for FY20 at 3,10,855 units was -34% lower than FY19. Retail was 16% higher than offtake for the entire year.  Domestic sales in March 2020 was 5,336 units, deeply impacted by the COVID19 lockdown as well as the planned transition to BSVI. Retail sales was significantly ahead of wholesales (>300%).Almost all BSIV vehicles in the ecosystem have been retailed, however, some await registration which was halted due to the lockdown. This will be cleared in the window provided. Production of BSVI vehicles was on track and we have wholesaled the initial few BSVI vehicles. Our focus is to secure the extensive business continuity plan including ensuring full support to all our customers in need, particularly those who are transporting the essential goods during this challenging period.”