Lower customer sentiments and liquidity crunch have taken a toll on the Indian car market. Majority of the Indian carmakers have posted negative sales growth and Tata Motors have joined the fray as well. Its Passenger Vehicle sales dropped by 27 per cent selling 13,351 units in the domestic market in June 2019 as compared to 18,213 units sold in the same period last year. The cumulative sales in the domestic market for the April 2019 - June 2019 period stood at 36,945 units which is a drop of 30 per cent compared to 52,937 units the company sold in the same period last year.
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Sibendra Barman - Vice President, Sales Marketing and Customer Support, Passenger Vehicle Business Unit (PVBU), Tata Motors said, "Auto Industry has been de-growing for the past 4 quarters. Customer sentiments remained low due to the overall slowdown in economic growth. Consumer expectations on revised GST rate on cars and limited liquidity availability kept them from firming their buying decision this month. We expect to see a growth in demand in the coming few months and are well equipped to deliver the best to all."
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Tata Motors is expecting sales to bounce back in the upcoming quarter, however, it has not specified any particular factor which can give a fillip to the volumes. The company is planning to launch the upcoming Tata Altroz this year which could give it the much needed shot in the arm.