Financial Daily from THE HINDU group of publications
Sunday, Jul 18, 2004
Financial Daily from THE HINDU group of publications Sunday, Jul 18, 2004 |
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Corporate
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Outlook Tata Motors hopes to sell 36,000 utility vehicles Our Bureau
Kolkata , July 17 TATA Motors Ltd hopes to sell 36,000 vehicles - Tata Sumo and Safari - in the utility vehicles segment in the current fiscal. The revenue generated from the same is expected to be around Rs 1,200 crore, according to Mr R.J. Chinoy, Head of Marketing (Utility Vehicles Passenger Car Business Unit). At a press conference held here on Saturday to mark the launch of Sumo Victa, an upgraded version of the Tata Sumo, Mr Chinoy said that last fiscal the company sold 28,000 vehicles in the utility vehicles segment valued at Rs 1,000 crore. The segment is growing at around 20 per cent annually and the company, too, is hopeful of growing at a rate commensurate with the growth of the market segment. In the first quarter of the current fiscal, the company sold 7,000 vehicles in the utility segment. With the introduction of the Sumo Victa, it is hopeful of increasing its market share from the present level of 22 per cent. New Sumo and Safari variants, too, were in the offing. The company is also working on a new vehicle platform, which is at a "concept stage" at the moment. Work on the promised Rs 1 lakh car is also in progress, he said. The Sumo Victa is on offer in three different trim levels, seven new colours and powered by Bharat Stage II compliant, 90 PS turbo charged intercooler, or a 68 PS naturally aspirated diesel engine. The ex-showroom price of the vehicle in Delhi has been pegged in the Rs 4.88 lakh - Rs 5.87 lakh range. Tata Motors sold a total of over 1,40,000 vehicles in 2003-04. These included four models across three segments - compact, entry mid-size and utility vehicles - at a price band of Rs 3 lakh - Rs 11 lakh.
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