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Tata Motors declared a Q1 slip of 82% in sales

Tata motors limited’s domestic vehicle sales dropped 82% low at 23,845 units for the quarter ended in June. Previous year, it had reported 1,31,879 sales in the same period. The economic destructions and hindrances due to the coronavirus caused covid-19 disease were the reason behind this drastic fall in sales. Tata Motors domestic sales in the first quarter of financial year 2020 totalled to 131,879 units. The company has now switched to declaring its quarterly sales since April.

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This decline comes after a reduction in the production of passenger and commercial vehicles in regards with the pandemic. Tata’s commercial vehicle business fell 90% on a year on year basis due to the same. It dropped to 10,476 units with the lockdown reducing the demand for new trucks and buses. President of commercial vehicles business unit of Tata Motors, Girish Wagh, said in a statement that retail lagged 67% behind the wholesale. All the manufacturing units have started re-operations after lifting up of restrictions and hopes to gradually improve the charts.

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On Wednesday, it reported 81.78% decline in its total sales. They stood at 25,047 units in the quarter ending on June 30,2020 as against 1,37,545 units in the same period previous year. The commercial vehicle sales plummeted by 90% from 1,0,357 in 2019 to 10,476 in 2020. Sale of Passenger vehicles dropped to 14,571 units this year from 36,945 units last year, making it a decline of 61%. Till June 30,2020 the auto major reported cash and cash equivalents of nearly Rs. 5,000 crore.

 

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