Tata Motors expects PV retail sales to sustain momentum in Q3
Tata Motors is expecting passenger vehicle (PV) retail sales to maintain growth momentum in the ongoing quarter driven by year-end demand, according to a top company executive. As per FADA data, festive demand helped PV retail sales rise 32 per cent year-on-year (YoY) to 4,83,159 units in October.
The segment reported a 7 per cent YoY increase to 6,03,009 units during the 42-day festival period this year.
In September, PV retail sales had seen a dip of 19 per cent to 2,75,681 units.
The Mumbai-based auto major saw its PV volumes decline 6 per cent YoY to 1,30,500 units in the July-September period hit by tepid demand.
«In quarter three, we expect retail to be strong, driven by festivities and the year-end demand. Industry wholesale may be lower than retail, so as to reduce the channel inventory ahead of the new calendar year. That is for the industry,» Tata Motors Passenger Vehicles MD Shailesh Chandra said in an analyst call.
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