Passenger Car Segment Drives Tata Motors Sales Up 3% In January-March
A strong rebound in the passenger car segment for Tata Motors Ltd. ensured it ended the January-March quarter with a three percent jump in sales.
In a statement to the stock exchanges, the flagship company of the Tata Group said its March sales grew at nearly eight percent to 57,145 units, including exports.
The company witnessed a sales growth of just under three percent at 1,51,067 units during the January-March quarter, according to data compiled by BloombergQuint.
For the financial year 2016-17, the company saw a sales growthg by 6 percent to 545,561 units.
The growth during the fourth quarter of 2016-17 was primarily led by the passenger car segment, which grew at 34.7 percent year-on-year to 40,612 units.
Commercial vehicles sales during the same period fell by 4.7 percent to 94,804 units, as per the data compiled by BloombergQuint from the company's website. The company said its wholesale sales were impacted due to the recent Supreme Court ruling on Bharat Stage-III compliant vehicles.
The wholesale figures of Tata Motors commercial vehicles were affected by the Supreme Court judgement announced on March 29, leading to confusion and the consequent focus at the dealer level to increase retail and to reduce the levels of unsold stock.
For 2016-17, domestic passenger vehicle sales grew at 21.6 percent to 1,53,151 units. While commercial vehicle sales during the same period grew at just one percent.
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