Tata Motors offers early conversion to note holders



Tata Motors Group recorded a global growth of 59 per cent in its vehicle sales last month.

The latest figures released by the company showed that Tata sold 89,768 units in February 2010, representing a growth of 59 per cent over the corresponding period of last year.

The Tata group comprises Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, Tata passenger vehicles along with distributed brands in India, including Jaguar and Land Rover.

A statement made available to our correspondent by Tata in Nigeria gave the cumulative sales figure for the fiscal year (April 2009 - February 2010) as 771,238, higher by 17 per cent over statistics for 2008-09. Tata motors operate in Nigeria through its subsidiary TATA Africa Services Nigeria Limited.

It specifically, ”Sales of all commercial vehicles were 42,660 units in February 2010, a growth of 70 per cent while cumulative sales for the fiscal stood at 365,120 units representing a growth of 35 per cent.”

”Sales of all passenger vehicles were 47,108 units in February 2010, a growth of 50 per cent as cumulative sales for the fiscal were 406,118 units, a growth of four per cent.”

It also said that 29,911 units of the Tata passenger vehicles, including those distributed were sold last month, representing a growth of 45 per cent. It put the cumulative sales for the fiscal as 235,674 units, a growth of 24 per cent.

The firm also said that another 17,197 vehicles sold in February were Jaguar and Land Rover. This represents 60 per cent increase over last year‘s. While Jaguar sales for the month were 3,292 units, higher by 55 per cent, Land Rover sales were 13,905, higher by 62 per cent.

Meanwhile, Tata Motors has been declared as the commercial vehicle maker of the year in the Commercial Vehicles Awards 2010. The award is facilitated by CV magazine.

The award was given to Tata Motors for its steadfastness in a challenging environment in 2009 and introducing a whole number of products, which are ”going to change the face of the Indian industry and bring it at par with the global commercial vehicles industry”.

This was disclosed through another statement by Tata Motors, which it said also received two other awards.

The commercial vehicle award was said to cut across all types of commercial vehicles - goods carriers or buses, large or small and four-wheelers or three-wheelers.

”This is the first time that awards dedicated to commercial vehicles have been instituted. The award ceremony was attended by the leadership of companies from across the country,” the firm said.

Article from The Punch

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