“The PV industry in Q2 FY25 saw more than 5 per cent decline in retails (Vahan registrations) compared to Q2 FY24 driven by slow consumer demand and seasonal factors. In contrast, industry offtake was significantly higher than registrations in anticipation of a strong start to the festive season, resulting in a continued buildup of channel stock,” Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd Managing Director, Shailesh Chandra said.
Total commercial vehicle (CV) sales in the domestic market stood at 28,631 units in September as against 37,214 in the year-ago month, down 23 per cent.
Tata Motors Ltd Executive Director Girish Wagh said that in the second quarter of FY25, domestic CV sales were at 79,931 units, down 19 per cent from Q2 FY24 sales.
Slowdown in infrastructure project execution, reduction in mining activity and an overall drop in fleet utilisation due to heavy rains affected demand, he added.