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Slowdown in Motown : Tata Motors, M&M, Toyota report dip in April sales
The industry has recorded de-growth for the 10th consecutive month. Weak consumer sentiments are reflected in this demand de-growth and we have also been impacted, says Tata Motors president Passenger Vehicles Business Unit Mayank Pareek
New Delhi: Homegrown automakers Tata Motors and Mahindra & Mahindra (M&M) on Thursday reported decline in sales for April, hit by subdued demand in the market.
Similarly, Toyota Kirloskar Motor also reported a decline of 22.43 per cent in its domestic sales last month.
Tata Motors said its passenger vehicle sales in the domestic market declined by 26 per cent to 12,694 units last month, compared to 17,235 units in April 2018.
"The industry has recorded de-growth for the 10th consecutive month.
Weak consumer sentiments are reflected in this demand de growth and we have also been impacted," Tata Motors president Passenger Vehicles Business Unit Mayank Pareek said in a statement.
Meanwhile, M&M saw its passenger vehicle sales drop 8.94 per cent to 19,966 units in April as against 21,927 units in the year-ago period.
M&M president Automotive Sector Rajan Wadhera said the ongoing elections has subdued the purchase sentiment during April.
"This, according to us, is a temporary phenomenon. We believe, following the elections the auto industry will see a revival in consumer demand.
Supported by a normal monsoon, we are confident of seeing higher sales in FY20," he added.
Toyota Kirloskar Motor said its domestic sales last month stood at 10,112 units against 13,037 units in April 2018, a decline of 22.43 per cent.
"The industry is currently experiencing a slowdown due to uncertainty of general elections that looms over the market and this slow pace is expected to continue until the new government is formed," TKM deputy MD N Raja said.
