Tata Motors’ sales down 30 percent in NovemberDecember 2nd, 2008 - 9:48 pm ICT by IANS
Mumbai, Dec 2 (IANS) Auto major Tata Motors for the second consecutive month reported a considerable decline in its gross sales, with the November figures dropping over 30 percent compared to the year-ago period.While the total sales stod at 32,696 units last month, down from 46,947 a year earlier, it fared relatively well in the passenger vehicles sales, where the fall was 12 percent, a Tata statement said Tuesday.
Tata sold 14,327 passenger vehicles in November 2008 against 16,322 units in the same month last year.
“Unavailability of finance, coupled with high interest rates, continues to defer customer purchases,” the carmaker said.
The company’s October sales also reported a 20 percent decline.
Tata Motors’ new variant of its compact Indica also failed to revive its falling sales, with the automaker selling 9,039 units of the model, marking a decline of 13.8 percent.
The company also announced it will shut its commercial vehicle plant in Pune for three days starting Dec 5, in order to avoid a build-up in unsold stock amid falling sales.
The plant was earlier closed for six days last month, and the company also closed some other plants on a short-term basis to manage inventory levels.
Exports during the period stood at 2,140 vehicles, showing a decline of over 43 percent as compared to 3,730 vehicles a year ago, the statement said.