Tata Motors' sales fall drastically amid coronavirus lockdown
Tata Motors on Wednesday announced that it has recorded a drastic fall in terms of overall sales for the month of March due to the coronavirus lockdown.
The company sold a total of 12,924 vehicles last month when compared to the 74,679 units sold in the corresponding month of 2019.
In the domestic market, Tata Motors retailed 11,012 units in March 2020, as against 68,727 vehicles sold in March 2019. This directly translates to a fall of 84%.
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In terms of yearly figures, the company managed to sell 4,42,052 units in the domestic market in FY20, in comparison to the 6,78,835 units sold in FY19, it was a direct hit of -35% sales.
The domestic passenger vehicles (PVs) sales was down by 68% in March 2020 as the company sold only 5,676 units, as against 17,810 units in March 2019. The yearly domestic passenger vehicles sales took a hit of 38% as Tata sold 1,31,197 PV units in FY20, as against 2,10,143 units in FY19.
On the other hand, Tata has also announced that it has nearly emptied its BS 4 stock inventory which is clearly a positive sign considering that majority of the automakers are facing serious troubles regarding the same matter.
Mr. Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, “Vehicle sales was affected by the Covid-19 outbreak and the subsequent nationwide lockdown. However, the customer response to our newly launched models – the Altroz and the refreshed BS 6 range is encouraging. Our BS 6 vehicle stock is near zero in the entire network. I would be handing over to Mr. Shailesh Chandra who I am sure will take the PV team and the business to the next level, by delivering an exciting customer experience and building on the strength of the NEW FOREVER product portfolio."