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April 3, 2008 |
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TATA MOTORS: Posts Record Monthly and Annual Vehicle Sale Tata Motors Ltd. reported a record sale of 582,401 vehicles (including exports) for the fiscal year 2007-08, its highest ever and a growth of 1% over 578,862 vehicles sold in 2006-07. Total sales (including exports) for the month of March 2008 were 66,495 units, the company’s highest ever monthly sales and an increase of 6% over 62,779 units sold in March 2007. * Commercial Vehicles The company’s sales of commercial vehicles in March 2008 in the domestic market were 35,993 units, an increase of 17% over 30,720 vehicles sold in March last year. Medium & Heavy Commercial Vehicle sales stood at 20,639 units, an increase of 17% over March last year. Light Commercial Vehicle sales were at 15,354 units, an increase of 18% over March last year. Cumulative sales of commercial vehicles in the domestic market for the fiscal were 313,371 units, an increase of 5% over last year, also the highest ever. M&HCV cumulative sales were 166,037 units, while LCV sales for the period were 147,334 units During the year, Tata Motors launched the Magic and Winger, creating new segments in urban and rural passenger transportation. It also introduced a new M&HCV range of multi- axle trucks, heavy-duty trucks, tractor- trailers and tippers and fully-built solutions like tip-trailers and load bodies. * Passenger Vehicles The passenger vehicle business reported total monthly sales of 24,737 units in the domestic market in March 2008, its highest this fiscal but a decline of 4% over 25,760 vehicles sold in March last year. The Indica sold 13,042 units, a decline of 14.7% over March 2007. The Indigo family registered sales of 5,135 units, an increase of 18% over March 2007 and its highest ever monthly sales. Utility Vehicles sales at 6,560 units registered a growth of 7.4%. Cumulative sales of passenger vehicles in the domestic market for the fiscal were 214,758 units, a decline of 5% over the previous year. The cumulative sales of Indica were 135,642 units, a decline of 6% over the previous year. Despite the decline, the Indica remained an industry bestseller and ended the year as the second largest selling model in the industry. The Indigo family posted sales of 31,416 units, a decline of 8% but continued to be the largest selling entry mid size range five years in a row. The Sumo and Safari accounted for sales of 47,700 units in the fiscal, registering flat growth. Safari sales at 19,078 units have been highest for any fiscal since launch and have grown by 21%. During the year, Tata Motors crossed the millionth passenger car production milestone off the Indica platform, in its ninth year since the commencement of production in January 1999. * Exports The company exported 5,765 vehicles in March 2008 as compared to 6,299 vehicles in March last year, a decline of 8.5%. The cumulative sales from exports during the year were 54,272 units, an increase of 3% over 52,796 vehicles sold last year. About Tata Motors India's largest automobile company, Tata Motors Limited -- http://www.tatamotors.com/ -- is mainly engaged in the business of automobile products consisting of all types of commercial and passenger vehicles, including financing of the vehicles sold by the Company. The Company's operating segments consists of Automotive and Others. In addition to its automotive products, it offers construction equipment, engineering solutions and software operations. Tata Motors has operations in Russia and the United Kingdom. * * * Standard & Poor's Ratings Services, on July 13, 2007, assigned its 'BB+' issue rating to the proposed US$490 million zero- coupon convertible bonds of India's Tata Motors Ltd. (BB+/Stable/--). The bonds represent a direct, unsecured and unsubordinated obligation of the company. Proceeds from the bonds will be used for capital expenditure, overseas investments, acquisitions, and other general corporate purposes. Moody's Investors Service, on July 26, 2005, gave Tata Motors 'Ba1' long-term corporate family and senior unsecured debt ratings. |
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