Tata Predicts 25% Growth in Commercial Vehicle Sales This Fiscal Year
Published On Mar 07, 2016
Tata Motors has had a formidable run in the market this year. In the domestic area, the brand's commercial vehicle sales grew by nearly 20 percent in January, coming to 30,670 units. In February, the value rose even further by 22 percent, reaching 14,872 units. Meanwhile, its exports soared by 42 percent in January, coming to 5,636 units, and by a solid 31 percent in February, touching 5,142 units. The company has seen an unbroken stint of success since the last year, after a rapid revival in the medium and heavy duty market.
The company expects its strong performance to continue this fiscal year, and this trend will also carry forth into the next year. Tata Motors believes that the industry's growth is driven by a renewed economic fervour, as well as a high replacement demand due to new emission norms. The company expects its CV sales to grow by 25 percent this fiscal year.
“Truck sales have overall reached the 2011-12 peak, and we have been leading the market. We hope to close this fiscal year with around 25 percent hike in overall sales. The first two months of the current quarter have been very good, and March should be better,” said Ravi Pisharody, the company's Executive Director for the commercial vehicle business unit. “We hope to continue the sales growth next fiscal year as well, which in percentage terms may be lower than this fiscal, considering the high base. Still, we expect to clock 10- 15 per cent jump in sales as BS-IV norms will kick in from April 2017. I expect the second half of the next fiscal year to be better than H1,” he added.
The company recently disclosed strong sales for the month of February, and had simultaneously celebrated an order for 25 hybrid buses from the Mumbai Municipal Corporation.