The FINANCIAL — Tata Motors reported total sales of 39,729 vehicles (including exports) for the month of October 2008, a decline of 20% compared to 49,354 vehicles sold in October last year. Cumulative sales for the company at 305,414 nos., declined by 2%. Unavailability of finance, coupled with high interest rates, is forcing customers to postpone purchases.
Commercial Vehicles
The company’s sales of commercial vehicles in October 2008 in the domestic market were 19,154 nos., a decline of 29% compared to 27,103 vehicles sold in October last year. M&HCV sales stood at 7,321 nos., a decline of 48% over October 2007, while LCV sales were 11,833 nos., a decline of 10% over October 2007.
Cumulative sales of commercial vehicles in the domestic market for the fiscal were 164,894 nos., a growth of 3% over 159,964 nos. last year. Cumulative M&HCV sales stood at 76,117 nos., a decline of 8% over last year, while LCV sales for the fiscal were 88,777 nos., a growth of 15% over last year.
Passenger Vehicles
Total sales of passenger vehicles at 17,014 vehicles in the domestic market in October 2008 have been growing since July sales of 14,652 nos. They grew by 3% over the previous month of September 2008, but declined by 6% over 18,021 nos. sold in October 2007. Retail sales crossed 18,500 nos. led by highest retail sales for cars for any month this fiscal. The Indica range sales at 9,484 nos. grew by 10% compared to the previous month, and continue to look up since August, the month in which the Indica Vista was launched, when the sales were at 7,756 nos. The car continues to have a 6-week waiting period, and the company is ramping up production every month to meet the pending demand. As a result, the range still shows a decline of 19% over the same month last year, but it is slated to register a growth as soon as the production reaches a stable ramped up capacity. The Indigo range continues to have a good run with sales of 4,616 nos., a 96% growth over October 2007. Between the Indica and the Indigo range, total sales of 14,100 nos. in the month of October 2008 are marginally up (for the first time this fiscal) than the car sales of 14,011 nos. in October 2007. Retail sales for cars were at the highest this fiscal at over 15,000 nos. The Sumo and Safari accounted for sales of 2,914 nos., a decline of 27% compared to October 2007. The UV/SUV range has been under pressure in the market since the July ad hoc imposition of an additional element of excise duty on vehicles having engine displacement of over 1.5 litre.
Cumulative sales of passenger vehicles in the domestic market for the fiscal were 114,919 nos., a decline of 5% over 120,498 nos. in the same period last year, primarily due to the phasing out of the older Indica and the induction of the new Indica Vista. Cumulative sales of the Indica at 59,039 nos., reported a decline of 26%, a situation that has shown an improvement over the last few months since the launch of the Indica Vista. Cumulative sales of the Indigo family were 31,282 nos., a strong growth of 88%. Cumulative sales of Sumo and Safari were 24,598 nos., a growth of 4%.
Exports
The company's sales from exports at 3,561 vehicles in October 2008 declined by 16% compared to 4,230 vehicles in October 2007. The cumulative sales from exports for the fiscal at 25,601 nos. declined by 20% over 31,832 nos. in the same period last year.
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