Bad news for Noel Tata, sales for this Ratan Tata company dip by 12% to…, down from…

Tata Motors on Tuesday reported a 12% year-on-year decline in total domestic wholesales, which was at 65,019 units in June, down from 74,147 units in the same month last year.

According to a regulatory filing, domestic sales of passenger vehicles, including electric vehicles, dropped 15% to 37,083 units, compared to 43,524 units in June last year.

Tata Motors Sales Decline

Total commercial vehicle sales in the domestic market fell 12 per cent to 27,936 units from 30,623 units in June last year.

“With forecasts for a healthy monsoon across the country, reduction in repo rate and renewing thrust on infrastructure development, we expect commercial vehicles volumes to improve progressively in the coming quarters,” Executive Director Girish Wagh said.

Tata Motors Passenger Vehicles MD Shailesh Chandra said: ” Looking ahead, while overall industry growth is expected to remain subdued, Tata Motors is well positioned to leverage its new launches to outperform across segments—including hatchbacks and SUVs, while continuing to build on the EV momentum.” 

Who Owns Tata Motors?

Tata Motors is owned by Tata Sons which is the holding company of the Tata Group. Tata Sons is primarily owned by various Tata family charitable trusts. N. Chandrasekaran is the chairman of both Tata Sons and Tata Motors.

(With Inputs From PTI)

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