Tata Motors upbeat on LCV prospects this fiscal

The maker of the world's cheapest car, Tata Motors, said that the sales of its small and light trucks could increase by as much as 60 per cent this fiscal.

After a less than satisfactory performance in the second half of the last financial year, the automobile major was optimistic that sales would climb-up on the back of a resuscitated economy.

The company expects to sell about 1,20,000 units of its mini-truck Tata Ace and between 65-70,000 units of its light passenger vehicle Tata Magic this fiscal. Last year, about 80,000 units of the former were sold, while 36,000 of the latter were purchased.

 

On a percentage scale, Tata Ace had witnessed about 26 per cent growth while Tata Magic grew up 37 per cent, last year.

“There is more liquidity in the market compared to last year and, despite the agricultural sector being affected, there is growth across the board. We think there will be a huge demand of these vehicles as the service industry is poised to grow at a massive rate in near future,” Tata Motors Head, Sales and Marketing, Light Commercial Vehicles, Anil Kapur said.

Kapur, who was in the city to launch three new vehicles — Tata 407 Pickup, Tata Super Ace and Tata Ace EX — in the sub-one-tonne to three tonne range, indicated that segment would not only witness robust growth but would be further partitioned.

“This entire segment will get broken down into smaller sections with customers demanding products tailored to specific requirements. We are bringing out more vehicles to cater to this demand,” he said.