Automobile major Tata Motors on Tuesday reported a 7. 7 per cent decline in domestic sales in December on a year - on - year basis.
The company sold 50, 440 units in the country last month, against 54, 627 units in December 2017, Tata Motors said in a statement.
"During the month, consumer sentiment remained slightly subdued as the customer was still waiting to see a sustained level of improvement in factors like fuel prices and profitability before deciding to further invest in new vehicles, " it quoted Girish Wagh, President, Commercial Vehicles Business, Tata Motors, as saying.
In the commercial vehicle segment, the company sold 36, 180 units during the period under review, 10. 6 per cent lower than 40, 447 units sold during the corresponding period of financial year 2017 - 18.
"In December 2018, liquidity crisis in the industry, higher interest rates and rising fuel costs continued to impact the commercial vehicle sales, with M&HCV and I&LCV segment witnessing a decline while the passenger vehicle business bounced back, " said the statement.
Sale of passenger vehicles rose marginally, by 0. 6 per cent to 14, 260 units "due to good demand for new generation passenger vehicles", the company said.
On exports, Tata Motors recorded a 36. 5 per cent fall in sales to 3, 999 units as against 6, 293 units in December 2017.
Commenting on the sales, Mayank Pareek, President, Tata Motors' Passenger Vehicles Business, said: "In December 2018, we have strived to maintain our growth trajectory during what was a rather sluggish period for the entire auto industry. "