PUNE: While demonetisation ruled the minds of the population, overall sales for Tata Motors remained flat during the month of November. The company sold 38,900 passenger and commercial vehicles (including exports), flat over 38,918 vehicles sold in November 2015.
However, the company’s domestic sales of commercial and passenger vehicles for November 2016 stood at 33,274 during the month, a decline of 6 percent over November 2015, it said in a statement on Thursday. The company continued to witness year-on-year growth in key segments in November 2016, including passenger cars in the domestic market, with sales at 12,736 units – a growth of 22 percent – compared to 10,470 units in November 2015. The sales growth comes on the back of strong demand for the Tata Tiago, it said.
The overall commercial vehicles sales in November 2016, in the domestic market stood at 20,538 units, lower by 17 percent over November 2015. The impact of demonetization was felt across all segments. Sales of Tata’s light and small commercial vehicles dropped by 13 percent over November 2015.
The bus segment reported a growth of 60 percent, while MH&HCV Cargo sales on a much larger base saw a drop of 28%, with long haul cargo operators being severely affected by cash crunch and deferring purchases. However, the construction segment continued to grow strong by 46 percent, thereby maintaining a robust cumulative growth of 30 percent for the year, it said.