Hyundai's India unit, Tata Motors post higher April sales [Reuters]
Tata Motors Ltd Tata Motors Limited (TTM)
US:NYSE Investor Relations:
tatamotors.com/investor/volumes
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Source: Reuters
Picture taken April 7, 2022. REUTERS/Francis Mascarenhas/File Photo BENGALURU, May 1 (Reuters) - Automaker Tata Motors and Hyundai Motor's India unit reported higher sales in April from a year earlier, while sales of truck maker Eicher Motors dipped, monthly data from the companies showed on Wednesday. Each month, automobile makers in India release wholesale numbers, or vehicle sales to dealers. WHY IT'S IMPORTANT The sales numbers are seen as a key indicator of private consumption in India. The auto sector has more than 50% weightage in calculating the country's economic growth. CONTEXT Indian automakers posted in fiscal 2024, with momentum expected to continue into the current financial year. In April, two-wheeler sales surged amid regional festivals or weddings, while pricier sport utility vehicles (SUVs) were preferred by customers looking to buy cars, analysts noted. Rising consumer income levels and the availability of easy financing options with lower EMIs (equa
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