Tata Motors Rides The Buying Craze Ahead Of New Emission Norms
Tata Motors Ltd. reported a two percent sales growth in February, on the back of a turnaround in the commercial vehicles segment, after a gap of three months.
The country's largest commercial vehicle manufacturer, sold 15.031 medium and heavy commercial vehicles in February, a growth of one percent, over the same period last year. It is also the first time in three months that commercial vehicles sales have grown.
The company attributed this jump in sales to the pre-buying before the stricter Bharat Stage IV norms kick in from April 1, 2017, which is bound to lead to a price increase.
Tata Motors' bus sales continued to grow by 30 percent in February. The uptick in bus sales has been driven by orders from state transport units, and increasing demand from schools, the release added.
Passenger vehicle sales in India too were higher by 12 percent at 12,272 units. The company attributes this to a continued strong demand for its hatchback Tata Tiago.
Exports fell 5 percent to 4,894 vehicles due to lower passenger vehicle shipments in February.
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