Tata Motors Sells 90% More Cars During Navratri Sales; Bookings Increased By Massive 109%!
Navratri has brought great news to the Tata group – the leading car maker of India has recorded a leap of as much 103% in car bookings.
Also, the company has recorded a 90% rise in passenger vehicles’ retail during this Navratri period, as compared to the number of last years, i.e. 2019.
Tata Motors’ Car Bookings Jump By 103%; Things Finally Looking Up?
The recent times have not been very good for Tata Motors as the new BS-6 rules were implemented along with many technology updates. Add to that the outbreak of the COVID-19 pandemic and things looked pretty somber.
As per Tata Motors President, Passenger Vehicles Business Unit, Shailesh Chandra, “Due to this transition from BS 4 to BS 6, there has been a significant escalation in cost. In these trying times customers are not very confident about the outlook how the future is going to be including their salaries and jobs.”
However, in a positive turn of events, the company has registered a huge increase of 103% in their car bookings. Also, a 90% increase in the sales of passenger vehicles has been clocked by the company.
Many other automobile companies have recorded a significant hike in their profits during the festive season, especially Navratri Tata not being an exception to it. Tata has observed an increase in the profits for another reason – the launch of new models in the Indian automobile market such as the Altroz Hatchback.
Tata Looking For A Partner For Passenger Vehicle Business; Wants GST Reduced
Recently, the company had announced the breach of 4 million in cumulative production in history. This achievement is the first ever since the company launched its first Sierra SUV back in 1991.
It was only last week when the company expressed that a slash in the GST rates would prove to be very beneficial for the entire passenger vehicle industry. He said, “ It definitely impacts the industry immensely and any support by the government to reduce GST to offset some of the price increase will definitely boost the whole PV industry.”
There also is news about Tata Motors looking to join hands with a partner for the passenger vehicle business to be prepared for the growth in the next decade.