Tata Motors is increasing the truck production output, foreseeing growth in the thriving commercial segment despite economic slump that caused downturn of passenger vehicle segment. The automaker is all set to increase annual production output of trucks to 450,000 vehicles. Production output of light commercial trucks of Pantnagar plant in North India will be increased to 90,000 vehicles per year from 2012, confirmed Tata's spokesman.
The commercial vehicle segment in India continues to rise, irrespective of the unfavourable economic circumstances. A key contributor of the country's economic growth, the segment grew by 35 per cent in November, in comparison to the unit sales during November 2010. After the announcement of increasing production output, Tata Motors stock also climbed to Rs. 176.80 per share on the Bombay Stock Exchange.
Tata Motors Limited's LCV sales were 28,673 units this year, a growth of 41 per cent, compared to 20,376 vehicles sold in November 2010. On the other hand, M&HCV segment showed steady growth with the sales of 16,064 units, registering growth of 9 per cent, in comparison 14,703 vehicles sold in November 2010.
Cumulative sales of commercial vehicles of Tata Motors Limited in the domestic market for January-November was 326,585 units, 19 per cent more than last year. Whereas cumulative LCV sales were 197,465 units, an increase by 26 per cent over last year’s sales. M&HCV cumulative sales for India's leading automaker were 129,120 units, an increase by 10 per cent over last year sales.
With the strategic planning, Tata is aiming to make the most of the increasing demands for commercial vehicles.
