• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai April 2 Tata Motors reported a year-on-year fall in commercial vehicle sales for April 2007 due to rising interest rates.

However, overall vehicle sales at 40,486 units grew 11 per cent.

Tata Motors' commercial vehicle sales declined 0.3 per cent, to 19,607 units, against 19,674 vehicles sold in April last year.

The medium and heavy commercial vehicle segment reported a fall of 14 per cent in sales, at 10,392 units.

The light commercial vehicle segment showed a positive growth of 22 per cent, reporting sales of 9,215 units.

The downtrend in the commercial vehicles segment was not unanticipated. Speaking to Business Line in mid-April, Mr Ravi Kant, Managing Director, Tata Motors, had said that hire purchases of commercial vehicles would be hit by the rising interest rates. Prime lending rates of banks had increased by two percentage points in the last four months, to over 15 per cent, he had pointed out.

Tata Motors' passenger vehicles segment reported a 26 per cent increase in sales at 16,842 units in April 2007. Exports were 13 per cent higher, at 4,037 units.

Domestic passenger car sales in March 2007 grew only three per cent. Analysts had attributed this low growth rate too to the hardening of interest rates.

Related Stories:
Maruti, Tata Motors report surge in March sales
Tata Motors sales up 51% in April

More Stories on : HCV/LCV/Tractors | Performance | Tata Motors Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Indian Ocean dipole favours good monsoon

Copyright © 2007, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line