Tata Motors News: TATA Stock Surges on Positive 2019 Domestic Sales

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Tata Motors (NYSE:TTM) reported its fiscal 2019 results early on Monday, lifting TATA stock more than 10% by day’s end.

Tata Motors NewsThe Mumbai, India-based automotive manufacturing business said that sales in its domestic market for its fiscal 2019 ended March 2019 increased by roughly 16% when compared to the year-ago quarter, reaching 678,486 units. This is a considerable increase over the 586,507 units it sold over the course of its fiscal 2018.

Tata Motors added that its sales for the month of March 2019 decreased by 1% to 68,709 units when compared to the 69,409 units it sold during March 2018, due in part to weak consumer sentiments. The company’s Commercial Vehicles (CV) business segments brought in fiscal 2019 sales in the domestic market of 468,692 units, a 17% gain from the year-ago total of 399,317 units.

The CV domestic sales for its month of March 2019 gained 4% year-over-year, reaching a total of 50,917 units, topping the 49,714 units from the year-ago period. Tata Motors’ SCV Cargo and Pickup Sales in its domestic market experienced a growth of 24% year-over-year for its fiscal 2019, reaching a total of units sold of 206,393 when compared to the 166,727 units from the last fiscal year.

In March 2019, the same segment brought in growth of 11% to 21,621 units, topping the 19,464 units sold during its March 2018. Tata Motors has benefited from its hub-spoke model, as well as demand for the last mile connectivity in both rural and urban markets.

TATA stock is soaring about 10.3% on Monday.


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