Tata Motors sales up 52% in December
The company's share rose over 3% on the bourses
Tata Motors today announced a strong sales performance for December, clocking a 52% growth in commercial and passenger Vehicles' domestic sales.
The commercial and passenger vehicles domestic sales in December 2017 was at 54,627 units as against 35,825 units in December 2016 due to increasing demand for vehicles across segments, new product launches and strategic customer initiatives, Tata Motors said in a statement.
The company's commercial vehicles domestic sales in December were at 40,447 units, a growth of 62%, compared to 24,998 units in December 2016. The commercial sector has shown recovery after the headwinds and regulatory challenges of last year.
Steady production ramp-up of the new range of BS4 vehicles and continued uptick in sales in consumption-driven sectors have led the growth. The cumulative sales performance of commercial vehicles (April-December 2017) in domestic market was at 269,536 units, a growth of 17%, over last year and continues to grow month on month, the statement said.
"The medium and heavy commercial vehicles (M&HCV) trucks segment continued its growth trend with robust sales at 15,828 units, higher by 83%, over last year. The ever-increasing positive customer response to the superior range of Tata Motors’ BS4 vehicles complemented by the success of the company’s innovative SCR technology led to this growth. Increased demand for the new tonnage vehicles, infrastructure development led by government funding and keen focus on customer requirements has helped reviving the M&HCV performance," the statement said.
The I&LCV truck segment at 5,103 units grew 78%, driven by consumption-led sectors like e-commerce.
The pickup segment sales was at 4,529 units, a growth of 43% over last year, as the Xenon Yodha and the Mega range continued to make inroads gaining wider acceptance and volumes across markets. The SCV sales at 10,576 units, witnessed a growth of 60% over last year at the back of strong response to Ace XL range. The commercial passenger carrier segment (including buses) sales at 4,411 units also grew by 19% over last year.
The company's share rose 3.75% on the NSE at 2.12 pm today.