Indian auto giant Tata Motors sold over one lakh vehicles in September globally, up five percent over the sales in September last year. Cumulative sales for the financial year were 537,187, up 12 percent over the previous fiscal.
Last month, the Mumbai-based company sold 102,289 in wholesales, including the sales of Jaguar Land Rover vehicles. Shares of Tata Motors closed at Rs 562.10 on Monday on the Bombay Stock Exchange, down 0.64 percent from their previous close.
"Global wholesales of all passenger vehicles in September 2016 were at 67,895 nos., higher by 7 percent, compared to September 2015. Cumulative passenger vehicle wholesales for the fiscal were 348,429 vehicles, higher by 6 percent, over FY15-16," the company said in a statement.
Global wholesales for Jaguar Land Rover were 52,914 vehicles. Jaguar's sales for the month were 16,211 vehicles and cumulative wholesales were 78,190 vehicles. Cumulative wholesales for Jaguar Land Rover for the fiscal were 273,561 vehicles.
Domestic car sales during September were robust for most of the automobile companies, barring Honda Cars India, which continues to skip the growth wave.
In other news, in a bid to offset rising input costs, Tata Motors is planning to hike prices of its passenger vehicles during the upcoming festive season.
"Input costs have increased and some of the industry players have already undertaken price hikes. Moreover, we have also not corrected our prices for a long time. We will hike prices of our vehicles. Currently, we are working out the details," Mayank Pareek, president (Passenger Vehicles Business Unit) at Tata Motors said.