The industry slowdown has hit hard and among them Tata has seen a second month of falling sales. It sold 29,140 units in August 2019 in the domestic market as compared to 57, 210 units in the corresponding period last year resulting in a negative growth of 49 per cent.
It moved 2250 units in its passenger car division as compared to 4458 units in August 2019 resulting in a drop of 50 per cent.
The overall sales of passenger cars for FY2019 (up to this point) fell from 24, 267 units in August 2018 to 19, 686 units in August 2019, a drop of 19 per cent.
Commenting on the sales, Mayank Pareek, president, passenger vehicles business unit, said, “Under the challenging market situation, we continued to focus on improving retail sales. Our retail sales were 42 per cent more than offtake and as a result the network stock came down by over 3000 vehicles. This prepares dealers well for the festival season. Our prime focus remains on the working capital rotation of the channel. Our aim is to improve the retail capability, till August 2019, 72 new sales outlets were added and 3500+ sales executives were recruited.”
“Marking the onset of the festive season, we will drive positive sentiments with special offers and several special editions. We have kick-started this by further increasing the style quotient of the Harrier with the Harrier Dark Edition. We are hopeful that the recently announced financial package by finance minister will help in improving the liquidity of market and to reduce the ownership cost. This will certainly help the industry to revive and drive the growth, he added.”