Tata Motors Ltd, the nation’s biggest truck maker, vehicle sales declined 47% in December as higher interest rates and a credit squeeze eroded demand. Commercial and passenger vehicle sales in India and overseas reached 25,219 units last month, compared with 47,678 units a year earlier. Commercial vehicle sales in India fell 51% to 14,056 units.
Mahindra and Mahindra Ltd, nation’s biggest maker of sport utility vehicles (SUVs), reported fall in sales in December by 30%. Sales of cars, SUVs, trucks and three-wheeled vehicles reached 10,665 units in India and overseas, compared with 15,316 units a year earlier. Exports fell 61% to 412 units.
TVS Motor reported 8.5% fall in its two wheeler sales. It achieved sales of 89,285 units as compared to 97,576 units year ago. Motorcycles sales dropped by 21.91% year-on-year to 40,057 units in December. General inflationary trends, inadequate availability of retail finance and high interest rates affected sales. However, the cumulative sales for the April-December period registered a 2% growth compared with the year-ago period.
crackcrack| Company Name | CMP |
|---|---|
| Tata MotorsPassenger | 342.55 |
| Maruti Suzuki | 13710.95 |
| Mahindra & Mahindra | 3261.80 |
| Hyundai Motor India | 1795.90 |
| Mercury Metals | 31.79 |
| View more.. | |
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