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Tata Motors has released its sales report for the month of March 2020. The company announced a massive decline of 68% sales in the passenger vehicle segment last month.
Tata Motors stated that they registered sales of just 5,676 units in March 2020, as against 17,810 units during the same month last year. The total vehicle sales in the financial year 2019-20 also fell by 38% with a registered sales of 1,31,197 units of sales; against 2,10,143 units of sales in FY 2018-19.
Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd. said,
"Vehicle sales were affected by the COVID-19 outbreak and the subsequent nationwide lockdown. However, the customer response to our newly launched models - the Altroz and the refreshed BSVI range is encouraging. Our BSIV vehicle stock is near zero in the entire network."
The commercial vehicle segment of Tata Motors faced an even massive decline. The total domestic sales of Tata Motors' commercial vehicle segment declined by 90% from 50,917 in March 2019 to 5,336 units in the previous month.
Considering both PV and CV, Tata Motors registered a total sales of 11,012 units in March 2020; a massive 84% decline from 68,727 units in the same month last year. In terms of the overall financial year sales, Tata Motors registered a 35% decrease with 4,42,052 units in the previous month.
The company has currently shut down operations of all its facilities, in line with the 21-day lockdown period in the country. The Tata Group has also announced a relief fund of Rs 1000 crore towards the fight of coronavirus in India. The company is also supporting the central government and other healthcare officials with all the necessary medical aids and equipment as well.
Thoughts On The Tata Motors Sales Report In March 2020
Tata Motors has suffered a massive blow to its sales in the month of March 2020. The sales have reduced drastically, mainly due to low customer sentiments and the shut down of operations from the company. April is set to be an even challenging month, with the first half under lockdown.