In 2018, the sales of Tata Motors (TM) skyrocketed in comparison to its competitor companies in the Indian automobile sector in 2018. It is one of India’s leading automobile companies in the production of commercial and passenger vehicles. The growth rate in comparison to the last fiscal year was over 30% for TM, whereas the same for competitors did not rise above the 6% mark.
Analyzing the growth rate for Tata Motors
Tata Motors maintained consistent growth in its sales for commercial and passenger vehicles through seven months in 2018, from April to November. The total domestic sales for the year reached 447,532 units compared to 344,137 units in 2017. From April to June 2018, the company sold 164,579 units as compared to 100,141 units sold in 2017. In the month of June, the sales rate grew by 54 % in comparison to last year.
Within this period, a growth rate of 71% was accounted for the sales of all commercial vehicles. Medium & Heavy Commercial Vehicle (M&HCV) segment accounted for a growth rate of 50%, Intermediate & Light Commercial Vehicle (ILCV) segment accounted for a growth rate of 69%. Small commercial vehicle (SCV) Cargo reported a growth rate of 53% and commercial carrier passenger segment reported sales of 33%. Cumulatively, passenger vehicles grew by 52 % in comparison to last year.
The primary competitors of Tata Motors include Maruti Suzuki, Hyundai India, Mahindra, and Honda. In the month of October 2018, Tata Motors confirmed growth in sales rate by 11.2 % in comparison to October 2017. On the contrary, companies like Maruti Suzuki accounted for a growth in sales rate by 1.54%. Hyundai India’s growth rate was 4.87% and Mahindra & Mahindra accounted for 2.61%.
Tata Motors also took over Toyota and Ford as they witnessed a growth rate of 6% and 14% respectively whereas TM posted a growth rate of 16 %.
Popular Models in 2018
The impressive growth in the sales rate and its sustainability of Tata Motors in 2018 was much depended on its compact utility vehicles like Nexon, compact car Tiago as per Mayank Pareek, President of Passenger Vehicles Business Unit, Tata Motors Ltd.
In the commercial vehicle segment, the range of BSIV trucks has done particularly well, as per Girish Wagh, President of Commercial Vehicles Business Unit, Tata Motors Ltd.
Models to launch in 2019
Moving on from the grand success in 2018, Tata Motors is all set to launch 7 new models in 2019:
- Tata Harrier
- Tata Harrier Automatic
- Tata Pelican
- Tata Tiago (Electric)
- Tata Nexon (Turbocharged-Petrol)
- Tata H7X
- Tata 45X.
Sources: ET, Business Today, Rush Lane, Zeebiz
Image Credits: Fortune India