Tata Motors has reported 3.8 per cent decline in domestic sales to 50,470 units in November as compared to 52,464 in the same month last year. This was "due to low consumer sentiments as a result of liquidity crisis in the industry, higher interest rates and rising fuel costs," the company said in a statement.
Tata Motors' Commercial Vehicles (CV) domestic sales declined 5.15 per cent in November to 33,488 units compared to 35,307 sold last November.
"Small operators' profitability was also impacted due to reduced freights on account of the benefits passed by large operators from the GST related credit. Overall demand post the festival period was muted," the company said. Its passenger vehicles domestic sales witnessed a decline of 1.01 per cent to 16,982 units, as compared to 17,157 units sold in November 2017.
"November 2018 was a challenging month for the industry with muted consumer sentiment caused by liquidity crunch, non-availability of retail finance and moderate festive season," it added.
The recently launched Tiago NRG, Nexon KRAZ limited edition, all-new Tigor and the JTP range of cars have received good response in the market.
"The company expects the fervour to continue with the introduction of Tata Harrier in early 2019," said Tata Motors.
The M&HCV (medium and heavy commercial vehicle) truck segment declined by 23.79 per cent, to 9,793 units compared to 12,851 units over November last year.
While, I&LCV (light and intermediate commercial vehicles) truck segment reported a growth of 2.18 per cent to 4,071 units as against 3,984 units sold in November 2017.
Total exports during the month stood at 4,604 units as compared to 4,927 units last year, a decline of 6.55 per cent, the company said.