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.
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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.
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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%.
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.
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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.
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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."
