Tata Reports Healthy 6% Growth for February
Published On Mar 03, 2016
Tata has entered the new year on a positive note. The company's shares have witnessed an upsurge recently, holding off fears of a drop due to market turmoil. Good performance at home, along with robust sales for its overseas subsidiary Land Rover are thought to have contributed to the rise. Just recently, the brand reported strong performance figures for the month of February. Its total sales came to 46,674 units, yielding a six percent year-on-year increase.
After recovering last year from a steep market downfall, the company seems to have benefited from a boom in the M&HCV segment. The industry continues to witness sharp growth, and Tata's business in the heavy-duty segment rose by 22 percent in February.
Overall, commercial vehicles sales in the domestic market stood at 30,570 units in February 2016, an increase of 15 per cent. Cumulative sales of commercial vehicles in the domestic market for the fiscal year are at 288,895 units, higher by one percent over the last year. In particular, the firm witnessed a soaring performance on the exports front. In February this year, it sent out 5,142 units, 31 percent higher than the figure for February 2015. Its cumulative sales on the exports field for the financial year came to 51,679 units, leading to a 16 percent growth from last year.
In the domestic area, Tata Motors has commercial and passenger vehicles registered sales of 41,532 units for February. This gave a meagre three percent hike over the sales for the last year. Cumulative sales for the company touched 458,654 units, rising by two percent over the last year's values.
The company had recently garbed the spotlight in the famed Auto Expo in Delhi, where it showcased many new products.
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