Months after losing the No. 3 spot among passenger car makers in India, Tata Motors slipped further to the fifth position last month, as Japan’s Toyota Motor Corp edged past it to become the country’s fourth-biggest vehicle maker.
Tata Motors, which was beaten by fellow Indian manufacturer Mahindra & Mahindra last year, suffered a new low when sales crashed by 70% in February, as compared with the same month last year. Tata sold just 10,613 units during the month, lower than Toyota’s 12,756 units.
While Toyota’s lead in a single month can be dismissed as an aberration, Tata Motors has been clearly struggling in recent months.
Overall, the car market remains in a tight spot as high interest rates, dearer petrol prices and slowdown in the economy continues to hit demand. Maruti, the country’s top car maker, suffered a 9% decline in volumes in February at 97,955 units against 1.07 lakh units in the same month last year.
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