Tata Motors domestic sales fall 3% to 57,221 units in February

Mar 1 (AZINS) Tata Motors Friday reported 3% decline in domestic sales to 57,221 units in February 2019 as compared with 58,993 units in the same month last year. The company's passenger vehicle sales in the domestic market increased by 2% to 18,110 units last month, compared with 17,771 units in the year-ago period.

"Despite the challenging environment last month, we witnessed a growth of 2%, fuelled by the good performance of our new generation products," Tata Motors President Passenger Vehicles Business Unit Mayank Pareek said in a statement.

The company said its commercial vehicle (CV) sales in the domestic market stood at 39,111 units in February, down 5% from 41,222 units in the same month of 2018.

"The market continues to exhibit subdued demand on the back of high-interest rates, lagged effect of the implementation of revised axle load norms, slowing economic activity, resulting in the decline of 5% in CV sales volume," Tata Motors President Commercial Vehicles Business Unit Girish Wagh said.

Total exports during February 2019 stood at 2,930 units, a dip of 39% year-on-year due to congestion at Bangladesh border, new regulations and political uncertainty in Sri Lanka and slump in Middle East automotive market, the company said.