Fall in sales of Hero Motocorp by 12 percent in June.
Hero MotoCorp Ltd. said its sales in June were down 12 percent to 6,16,526 lakh units from 7,04,562 lakh units in June 2018.
The company sold 6,52,028 lakh units last month. It also added in its exchange filing that this was the second consecutive month this fiscal when the company had clocked six-lakh plus monthly sales.
There was a dip of 14 percent in Tata Motors sales as well.
Tata Motors Ltd.’s domestic sales continued to be affected by subdued demand and fell 14 percent on a yearly basis to 49,073 units.
Commercial vehicles sales in June were down 7 percent over last year to 35,722 units.
Passenger vehicles sales plunged 27 percent from the year-ago period to 13,351 units. The company attributed the dip in sales to low customer sentiments owing to a liquidity crunch but said that it expects the market to “bounce back soon.”
Tata Motors in a filing said, “ The slowing down of the economy is hurting overall customer sentiments and causing an impact on demand for fresh vehicles.”
Whereas TVS sales decline driven by fall in scooter sales, Eicher Motors sales fall 22 percent, M&M auto sales fall 6%; tractor sales down 18 percent, Ashok Leyland sales decline 19 percent, Maruti Suzuki falls for the fifth-straight month.