The commercial vehicle and passenger car manufacturer, Tata Motors has registered a 21 per cent growth in its October sales, on the back of festive season demand. The company said that it sold 52,813 vehicles during the month as compared to 43,486 units sold in year-ago period. The domestic sales in the month of October grew by 19 per cent to 46,480 units on the other hand exports jumped 39 per cent to 6,333 units on a yearly basis.
Mayank Pareek, President, Passenger Vehicle Business said that this festive season had brought double delight for Tata Motors. Tata Tiago continued to receive firm response and Tata Zest retails were the highest ever since launch, during the festive season. All their other products also witnessed increased traction in the market. He further said that the company was also receiving encouraging feedback on Tata HEXA and was gearing up for the launch in the month of January 2017.
Passenger vehicle segment has reported a whopping 28 per cent growth at 16,311 units, the highest sales in the last 4 years. Commercial vehicle sales contributed 57 per cent to total sales and recorded highest sales in the year 2016 with a growth of 15 per cent at 30,169 units as compared to year-ago period.
Tata Motors said that MHCV demand saw an improvement across numerous sectors including construction, cement, auto logistics, petroleum products and FMCG or consumer durables segments.
Light commercial vehicle sales during the month rose by 21 per cent and medium & heavy commercial vehicle sales increased by 9 per cent after 4 months of decline. Meanwhile, Tata Motors share price was trading 0.47 per cent lower at Rs.529.45 on the National Stock Exchange (NSE) today. In order to gain information about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a quick visit to Tata Motors share price history.
Source: www.dynamiclevels.com
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