Tata Motors reports 8% decline in June domestic sales

2 Jul 2024 , 10:37 AM

Tata Motors stated on Monday that total domestic wholesales fell 8% to 74,147 units in June. Last year, the company’s domestic wholesale sales was reported at 80,383 units.

Sales of passenger vehicles, including electric vehicles, in the domestic market fell by 8% in June to 43,624 units, down from 47,359 units the previous year, according to the report.

“Going forward, we anticipate a resurgence in demand, since inquiries have remained high despite low retails over the last two months. This strong inquiry pipeline, combined with the start of the festive season in August, bodes well for the industry,” Tata Motors Passenger Vehicles Managing Director Shailesh Chandra commented.

He said that the manufacturer is fully prepared to capitalise on this growth potential, which is being driven by high demand for its SUV portfolio, particularly the Punch and Nexon, as well as future releases in the coming months.

Passenger vehicle dispatches were 1,38,682 units in the April-June quarter, up from 1,40,450 in the same time last year.

Total commercial vehicle sales fell 8% to 30,623 units last month, from 33,148 in June 2023.

Despite the periodic decline in school travel that occurs in the second quarter, demand in the staff, intercity, and stage carriage segments should remain strong, he added.

The company reported that its commercial vehicle sales increased by 7% to 87,615 units in the April-June quarter, up from 82,225 units the previous year.

At around 10.19 AM, Tata Motors was trading 1.41% lower at ₹987.80, against the previous close of ₹1,002.05 on NSE. The counter touched an intraday high and low of ₹1,005, and ₹984, respectively.

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