Tata Motors' commercial vehicles sales in the domestic market, which contributed 68 percent to total sales, grew by 22 percent year-on-year to 39,420 units, led by the continued acceptance of the BS4 products.
Tata Motors on Thursday has reported a healthy 18 percent on year growth in October sales to 57,710 units due to strong sales performance of commercial and passenger vehicles segments in the domestic market.
The company sold 48,886 units in same month last year.
The company also registered a massive 36 percent growth in cumulative sales during April-October period to 3,97,062 units compared to 2,91,673 units sold in same period last year.
"The focus continues on aggressive sales enhancement, rigorous cost reduction and supply debottlenecking," Tata Motors said in its filing.
Commercial vehicles sales in the domestic market, which contributed 68 percent to total sales, grew by 22 percent year-on-year to 39,420 units in October, led by the continued acceptance of the BS4 products.
"Despite the liquidity constraints faced as of mid-September, the commercial vehicles industry continues to grow on the back of strong economic activities, with growth in Index of Industry production (IIP) and core sectors," the company said.
An early resolution to the liquidity crunch issue in the market will help sustain the growth momentum with fundamental drivers of demand still positive, it added.
The M&HCV truck segment registered a 16 percent growth YoY due to government spending on infrastructure projects, affordable housing and irrigation projects.
Its I&LCV truck segment reported a 29 percent growth led by the e-commerce sector, increased rural consumption and supported by new products.
However, its commercial passenger carrier segment recorded sales of 3,185 units, lower by 2 percent compared to October 2017, impacted due to the slowdown in the procurement of buses by STUs and the permits for private hiring, Tata Motors said.
Its passenger vehicles sales grew by 11 percent year-on-year to 18,290 units in month gone by.
Tata Motors introduced 4 new product interventions (Tiago NRG, Nexon KRAZ limited edition, all-new Tigor and the JTP range of cars) to maximise this festive season.
At 15:26 hours IST, the stock was quoting at Rs 178.55, down Rs 0.10, or 0.06 percent on the BSE.
