Tata Motors Ltd. saw a 2 percent rise in sales year-on-year in December led by a robust growth in the passenger vehicles segment and bus sales.
The automobile manufacturer sold 40,944 units in December compared to 39,973 units in the same month last year, it said in a media statement on Monday.
Passenger vehicle sales rose 35 percent year-on-year to 10,827 units. Of that, passenger cars maintained the growth momentum at 40 percent due to robust demand for the Tata Tiago, the statement added.
The company sold 24,998 commercial vehicles in December, a decline of 9 percent year-on-year. This is the second straight month of decline in the CV space for Tata Motors.
The market continues to remain under pressure due to the impact of demonetisation, which was felt across segments, particularly in the long-haul cargo segment.Tata Motors Media Statement
The truck segment was the worst hit and led the sales decline for December, even as construction vehicles and bus sales picked up in the last month of 2016.
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Higher project execution in the road sector aided construction equipment sales which grew by 22 percent versus the same period last year, Tata Motors said.
Bus sales increased 59 percent over the same period last year, driven particularly by government and state transport units, intercity and staff application segments.
Exports too increased 12 percent, with the company shipping 5,119 units in December compared to 4,557 units in the corresponding month last year.
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