TATA MOTORS
Moneycontrol Bureau
Shares of Mahindra & Mahindra and Tata Motors rose 1% in morning trade on Monday, after the two auto makers reported strong sales growth for March, as buyers rushed to book their vehicles early to avoid paying a higher excise duty from April 1.
Tata Motors said on Sunday its total sales rose 20% year-on-year to 1,00,414 vehicles. It was the first time ever that the company's monthly sales crossed 1 lakh. Both commercial vehicle and passenger vehicle sales were highest ever in a fiscal year, it said.
For March, Tata Motors' passenger vehicle sales accelerated 30% from a year ago to 38,399 units in the domestic market. Its domestic commercial vehicle sales surged 17% to 58,063 units, its highest ever in a month.
For the full year, Tata Motors' sales rose 13% year-on-year to 9,06,768 units. The company sold 5,29,980 commercial vehicles in the domestic market, up 19% during 2011-12.
However, Tata Motors' domestic passenger vehicle sales, which also include cars sold by Fiat India, were up just 3% from a year ago to 3,29,805 units, reflecting the slowdown witnessed across the sector last year, due to high petrol prices and expensive loans.
Meanwhile, Tata Motors is seeing a good demand for its luxury Jaguar and Land Rover vehicles in India. JLR sales in the domestic market surged 157% to 2,288 units in the last fiscal year.
Elsewhere, utility vehicle maker Mahindra & Mahindra too reported robust auto sales growth of 25% year-on-year at 47,001 units in March. Its sales growth too was highest ever for the month of March.
M&M's passenger vehicle sales, which include utility vehicles like XUV 500, Bolero and Scorpio and Verito sedan, were up 33% to 23,020 units in March.
For the full year 2011-12, M&M sold 4,83,246 automobiles, up 28% year-on-year.
At 9:50 hrs, Tata Motors was up 1.3% at Rs 278.80, while M&M gained 0.8% at 705.50 on NSE.
AMAR
PGDM 2ND
Moneycontrol Bureau
Shares of Mahindra & Mahindra and Tata Motors rose 1% in morning trade on Monday, after the two auto makers reported strong sales growth for March, as buyers rushed to book their vehicles early to avoid paying a higher excise duty from April 1.
Tata Motors said on Sunday its total sales rose 20% year-on-year to 1,00,414 vehicles. It was the first time ever that the company's monthly sales crossed 1 lakh. Both commercial vehicle and passenger vehicle sales were highest ever in a fiscal year, it said.
For March, Tata Motors' passenger vehicle sales accelerated 30% from a year ago to 38,399 units in the domestic market. Its domestic commercial vehicle sales surged 17% to 58,063 units, its highest ever in a month.
For the full year, Tata Motors' sales rose 13% year-on-year to 9,06,768 units. The company sold 5,29,980 commercial vehicles in the domestic market, up 19% during 2011-12.
However, Tata Motors' domestic passenger vehicle sales, which also include cars sold by Fiat India, were up just 3% from a year ago to 3,29,805 units, reflecting the slowdown witnessed across the sector last year, due to high petrol prices and expensive loans.
Meanwhile, Tata Motors is seeing a good demand for its luxury Jaguar and Land Rover vehicles in India. JLR sales in the domestic market surged 157% to 2,288 units in the last fiscal year.
Elsewhere, utility vehicle maker Mahindra & Mahindra too reported robust auto sales growth of 25% year-on-year at 47,001 units in March. Its sales growth too was highest ever for the month of March.
M&M's passenger vehicle sales, which include utility vehicles like XUV 500, Bolero and Scorpio and Verito sedan, were up 33% to 23,020 units in March.
For the full year 2011-12, M&M sold 4,83,246 automobiles, up 28% year-on-year.
At 9:50 hrs, Tata Motors was up 1.3% at Rs 278.80, while M&M gained 0.8% at 705.50 on NSE.
AMAR
PGDM 2ND
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