Tata Motors’ November domestic sales down 4%

Mumbai: Tata Motors on Saturday reported a four per cent decline in its domestic sales for November on a year-on-year basis.

Domestic sales of the company stood at 50,470 units, against 52,464 units reported in November 2017, the company said in a regulatory filing to the BSE.

“Tata Motors’ commercial vehicles (CV) domestic sales declined in November 2018 at 33,488 units, by 5 per cent, compared to 35,307 units sold last November, due to low consumer sentiments as a result of liquidity tightening in the market, higher interest rates and rising fuel costs,” it said.

Tata Motors further noted: “November 2018 was a challenging month for the industry with muted consumer sentiment caused by liquidity crunch, non-availability of retail finance and moderate festive season.”

Sales in the domestic passenger vehicles segment of the company dipped by just one per cent, to 16,982 units last month.

The company’s sales from exports in November 2018 was at 4,604 units as against 4,927 units in November 2017, lower by seven per cent, it said.