New Delhi: Impacted by muted customer sentiments, Indian auto major Tata Motors on Friday reported 8 per cent decline in total domestic sales at 54,915 units in the month of January 2019, . Tata Motors sold 59,441 units in the domestic market in January 2018, the company said in a release.Company’s domestic sales of passenger vehicles witnessed a drop of 11 per cent, at 17,826 units in January 2019, as compared with 20,055 units sold same month last year. The cumulative sales of PVs in the domestic market for the fiscal (April 2018-January 2019) were at 174,223 units, up 17 per cent, compared to 149,284 units, in the same period, last fiscal.Subdued market sentiments, high interest rates, lag effect of implementation of revised axle load norms, slowing industrial output and declining IIP growth index dropped the domestic sales of commercial vehicle (CV) by 6 per cent in January 2019 at 37,089 units, Tata Motors said. Company sold 39,386 units of CVs in the domestic market in the January 2018. Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said, “January 2019 has been a rather sluggish period for the entire auto industry and has resulted in muted consumer sentiment…. Read full this story
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