Tata Motors domestic sales fall 12% in June, Commercial Vehicles struggle too

Tata Motors Ltd., the manufacturer of passenger and commercial vehicles reported its sales figures for the month of June on Tuesday, July 1, which were lower across parameters on a year-on-year basis.

Domestic sales for Tata Motors fell 12% from the year-ago period to 65,019 units in June. The company had sold 74,147 units last June.

For the April-June period, overall sales fell 10% to 2.03 lakh units.

Commercial Vehicle sales declined by 5% from last year in June to 30,238 units, while for the first quarter, that figure was down 6%.

Domestic sales of Medium Heavy and Internal Combustion Vehicles declined to 12,781 units from 14,640 units in the year gone by. Total CV sales in the first quarter also declined to 37,730 units, down 6%.

"The first quarter has begun on a subdued note for the Commercial Vehicle industry with muted performance in the HCV and SCVPU segments, while buses, vans saw modest year-on-year growth," Girish Wagh, the Executive Director of Tata Motors said.

"We remain focused on driving our demand-pull strategy and deepening customer engagement to deliver greater value and tailored solutions that help our customers grow their business," He added.

Electric Vehicle sales for the month grew by 12% in June to 5,228, while for the quarter, they were down 2% to 16,231 units.

Shares of Tata Motors are trading 0.7% lower on Tuesday, at ₹683.2. The stock is down 4% in the last one month.