Tata Motors, the country’s largest automobile manufacturer, is looking at a single digit growth in its sales during the ongoing 2013-14 financial year. After posting dismal sales figures in the 2012-13 fiscal, the company has revealed that it is expecting some growth this year,
The announcement came through Karl Slym, Managing Director (MD), Tata Motors at the sidelines of AIMA awards held in New Delhi on April 11, 2013. Expressing his thoughts on the company’s growth prospects during the ongoing fiscal, Karl Slym was quoted as saying, “This fiscal we will be growing, and Tata Motors' overall vehicle sales will be on positive side. We are expecting a single digit growth in 2013-14.”
Further, the Tata Motors MD affirmed that the company could perform better if the sales in medium and heavy commercial vehicles (M&HCV) segment picks up in the country. Speaking on the same, Slym added, “If the M&HCV segment improves then our growth may be more than that (single digit). We are on the right platform now and our passenger car segment will be emerging in this fiscal.”
Reportedly, Tata Motors witnessed a 29.2 per cent drop in its domestic sales of passenger cars at 2,22,112 units during 2012-13, as compared to 3,13,710 units sold in the previous fiscal. However, the company saw a 1.35 per cent surge in its commercial vehicles sales in last fiscal and sold 5,37,143 units in the country.
Karl Slym has also affirmed that Tata Motors’ performance depends upon the overall market situation. Therefore, if sales in the auto sector start picking up again, Tata Motors’ profit margins would rise automatically. Speaking on the same, Slym added, “A lot of that was dependent on the market, even then also our retail sales were growing.”
