.jpg?downsize=773:435 "Tata Motors Sales Hit By “Lower Buying Sentiment” In June")
Tata Motors Ltd. reported a sales decline in June as the company was impacted by mixed consumer sentiments ahead of the implementation of the Goods and Services Tax regime which began on July 1.
Total sales fell 9 percent in June to 40,358 units compared to the same month last year, said Tata Motors in a media statement. Passenger vehicle sales fell 10 percent over the last year as the anticipation of GST triggered "low buying sentiments", the automaker added
The drop in volume is seen temporary and will be recovered in the quarter to comeTata Motors Media Statement
Commercial vehicle sales for India's largest player in the segment fell 2 percent to 25,678 units. The business grew on a monthly basis as the company ramps up its production of Bharat-Stage IV compliant vehicles.
The medium and heavy commercial vehicle, and light commercial vehicle segments, both registered a marginal one percent growth in sales.
Exports too felt a pinch, falling 40 percent from last year, to 5,807 units. Tata Motors' premium division Jaguar Land Rover is yet to report its monthly sales in June.
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