Nov. 3 (Bloomberg) -- Tata Motors Ltd., India's biggest truckmaker, said vehicle sales declined 20 percent last month as higher loan rates damped demand.

Tata Motors sold 39,729 commercial and passenger vehicles in India and overseas last month, compared with 49,354 units a year earlier, the Mumbai-based company said in an e-mailed statement yesterday. The company's commercial vehicle sales in India fell 29 percent to 19,154 in October, it said.

To contact the reporter on this story: Vipin V. Nair in Mumbai at vnair12@bloomberg.net.

Last Updated: November 2, 2008 19:29 EST