Tata Motors passenger vehicles unit sees double digit growth this fiscal
Buoyed by the launch of four new models over the past 16 months and looking ahead to the festive season with optimism, Tata Motors expects to see strong double-digit growth in the passenger vehicles segment during 2017-18.
The automotive major, which closed the last fiscal with domestic sales of about 1.52 lakh units, expects to see the number crossing the 2 lakh mark, backed by the recent launch of its compact sports utility vehicle Nexon, possibly achieving over 30 percent growth.
Mayank Pareek, President, Passenger Vehicles Business Unit, Tata Motors Ltd, said, “We are upbeat on the business during the year and expect to grow faster than the industry growth rate of 8-10 percent. We have managed to consistently achieve growth over the past five quarters and are hopeful to sustain this trend.”
Last year, while the industry registered a growth of 9 percent, Tata Motors saw a growth of 22 percent. This year, thus far, while the industry was up by 8 percent, we have grown by about 11 percent, he said.