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This article is more than 2 year old.

Tata Motors reports sales growth of 20% in September

Tata Motors reports sales growth of 20% in September
Continuing its growth momentum, Tata Motors sales in the domestic market grew by 20 percent in September 2018 to 64,520 units against the 53,964 units of the previous year. The cumulative domestic sales performance (April-September 2018) for Tata Motors witnessed a strong growth of 40 percent with 339,186 units as compared to 242,787 units in the same period last year.
Domestic - Commercial Vehicles
Tata Motors’ Commercial Vehicles (CV) domestic sales in September 2018 grew by 26 percent to 46,169 units as against 36,678 units in September 2017. The cumulative sales for the period April-September 2018 was at 232,487 units as compared to 161,370 units for same period last year, registering  a growth of 44 percent.
The medium and heavy vehicle truck segment continued to grow by 32 percent with 16,239 units compared to 12,259 units last year, led by the strong acceptance and superior performance of Signa and Prima trucks and tippers. The e-commerce, FMCG, Durables, and Auto carriers, 3PL players and oil tankers are also driving the growth of MHCVs.
While Intermediate and Light Commercial Vehicle truck segment delivered a robust performance with 5,465 units compared to 4,449 units over last year, recording a growth of 23 percent. This growth was strengthened by the new Tata Ultra range of trucks gaining significant acceptance and contributing to volumes. Farm loan waivers and Minimum Support Price (MSP) hike is continuing to support rural sentiments and the economy.
Whereas, the small cargo and pickup segment reported a significant growth with 19,846 units compared to 15,607 units, up by 27 percent, over last year.
The commercial passenger carrier segment witnessed a steady growth of 6 percent. The CV passenger vehicles segment continued to grow albeit on a slower pace on the back of STU sales and ambulances, in addition to the uptick in the STU buying.
Domestic - Passenger Vehicles
Passenger Vehicles (PV) domestic sales continued its growth trend at 18,429 units compared to 17,286 units, higher by 7 percent over the last year. This is the third consecutive month Tata Motors’ Passenger Vehicles grew significantly, while the industry witnessed a fall.
Cumulative sales of PV in the domestic market for the fiscal (April-September 2018) grew by 31 percent, at 106,865 units compared to 81,417 units for the same period, last fiscal.
Exports
The company’s sales from exports (from CV and PV) in September 2018 grew by 35 percent with 5,250 units compared to 3,887 units last year. The CV Exports have shown a strong growth owing to the increase in uptake in demand in Bangladesh post the Eid season supported by the festive buying in Nepal.