Tata Motors's domestic sales plummet by 15% in September
What's the story
Tata Motors has seen a hefty 15% drop in its total domestic sales for September, compared to the same time last year.
The company sold 69,694 units this month, which is a big drop from the 82,023 units sold in September last year.
This decline is mainly due to slow consumer demand and seasonal factors affecting the auto industry.
PV downturn
Passenger vehicle sales witness 8% decline
Tata Motors saw an 8% dip in its domestic passenger vehicle (PV) sales, which also includes electric vehicles.
The company sold 41,063 units last month, compared to 44,809 units in September of the previous year.
Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd, said this drop was due to slow consumer demand and seasonal factors.
CV downturn
Commercial vehicle sales slump by 23%
Tata Motors didn't just see a dip in its passenger vehicle sales; its domestic commercial vehicle (CV) sales also took a hit, dropping by a notable 23%.
The company sold 28,631 units in September, a drop from the 37,214 units sold during the same month last year.
Girish Wagh, Executive Director of Tata Motors Ltd., said this decline was due to a slowdown in infrastructure project execution and less mining activity because of heavy rains.