Tata Motors Ltd. reported 43% year-over-year growth in January sales, owing to greater demand for commercial vehicles from the construction, manufacturing and logistics sectors and strong numbers from the UV segment in passenger vehicles.
Tata Motors said it sold 59,441 units domestically during the month in the commercial and passenger vehicles segments, a jump from 41,428 in Jan. 2017. Exports during Jan. 2018 increased by 5% to 4,900.
The automobile manufacturer reported a 38% increase in commercial vehicles sales to 39,386, up from 28,521 units in the prior-year period. Sales of SCV Cargo and pickups jumped 75% to 17,948 units.
The company also saw a 13% boost in the M&HCV truck segment to 12,804 units. I&LCV truck sales jumped 55% to 4,541. The pace of increase in the commercial passenger carrier segment was slower, up 3% over the year to 4,093.
January sales in passenger vehicles grew 55% to 20,055. The UV segment saw a 188% increase while passenger car segment sales went up by 27%.
Tata sold a total of 308,922 units in its domestic commercial vehicle segment between April 2017 and Jan. 2018, a 19% year-over-year increase. The company also saw a 15% jump in domestic sales in the passenger vehicle segment between April 2017 and Dec. 2017 with 149,284 units sold, compared to 125,446 units in the prior-year period.
