Tata Motors reported a 4.39 per cent decline in total sales in May at 38,361 units compared to 40,123 units in the same month last year, reported PTI.
Domestic sales of Tata Motors’ commercial and passenger vehicles declined by 3.45 per cent to 34,461 units last month as compared to 35,695 units in May 2016, Tata Motors said in a statement.
Sales of passenger vehicles in the domestic market grew 27 per cent to 10,855 units last month. This was due to continued strong demand for the Tata Tiago, the Tata Tigor and the Tata Hexa.
In the commercial vehicles segment, the company’s domestic sales were down 13 per cent at 23,606 units last month, the auto major said.
The company said market continues to remain weak and the demand has still not picked up. There are early signs of retails of BS4 vehicles but it has still been slow.
Overall sales of Tata Motors’ MHCV trucks were at 6,522 units in May 2017, a decline of 40 per cent over May 2016 base.
“The sale in MHCV was affected primarily due to severe global supply constraints of Fuel Injection Pumps for BS4 engines,” the company said.
ILCV trucks sales were 12 per cent down at 2,368 units last month compared to 2,697 units sold last year in May, impacted by late supplies of fuel injector systems.
“These issues are expected to be resolved on short notice with full capacity available as of July 2017,” Tata Motors said.
Sale of small cargo vehicles (SCV) were up 10 per cent at 10,572 units as against 9,645 units in May 2016.
“On the SCV and Pick-up segments, there is a strong sales recovery with full availability of BS4 products and good market response to new variants like Xenon Yodha and Ace Mega,” the company said.
The company’s sales from exports declined 12 per cent at 3,900 units last month compared to 4,428 vehicles in May 2016.
The company said exports have been impacted in April and May due to retail drop of SCV in Sri Lanka after steep increase in import tariffs in late 2016, as well as fall in Nepal demand in the build-up to their elections.
India’s leading automobile manufacturer Tata Motors Ltd has reported a drop of 16.8 per cent in its consolidated net profit after tax at Rs 4,336.43 crore, however, its JLR business surprised with strong earnings.
“The consolidated net profit of the company stood at Rs 5,211.49 crore during the same period a year ago,” Tata Motors Ltd said in a filing to the Bombay Stock Exchange.
It’s consolidated total income, too, fell by 2.6 per cent at Rs 78,980.77 crore during Q4 2016-17, as compared to Rs 81,079.71 crore during the same period last year.
Consolidated revenues for the quarter are lower by Rs 9,032 crores due to translation impact from GBP to INR, the company said in a statement.
In standalone business, the company witnessed de-growth in the M&HCV segment and LCV segment partially offset by growth in Passenger vehicle segment.
The company said its subdidiary which is UK’s largest car manufacturer, Jaguar Land Rover (JLR), business witnessed a 13 per cent growth in retail sales during the fourth quarter of fiscal 2016-17.
Jaguar Land Rover (JLR) retail sales including the China JV in the quarter were 179,509 units, up 13 per cent on strong demand across the product portfolio, primarily reflecting higher volumes in China, North America, UK and Europe led by strong sales of F-PACE, Range Rover and Discovery Sport. Jaguar Land Rover wholesales, including the China JV, were 175,000 units, the company said in a statemnent.
JLR’s profit after tax (PAT) was £ 557 million for the quarter ended March 31, 2017, up 18 per cent y-o-y, while revenues were up by 10.1 per cent at £ 7,268 million.
Meanwhile, shares of the company were trading at Rs 466.65 apiece, up 3.68 per cent, from previous close on BSE at 12:52 hours.
“The board of directors of MT Educare Ltd, at its meeting held on March 6, 2017, approved entering into confidentiality, exclusivity and standstill agreement to evaluate a potential strategic collaboration by way of a scheme of arrangement or any other suitable structure between MT Educare Ltd and Nspira Management Services Pvt Ltd,” the company said in a filing to the Bombay Stock Exchange on March 06, 2017.
“The agreement provides for a mutually agreed exclusivity period for due diligence and discussions between MT Educare Ltd and Nspira Management Services Private Ltd in relation to the proposed transaction,” it added.
It further added that the current discussions are at a preliminary stage.
The proposed arrangement or structure shall be subject to due diligence, agreement on appropriate transaction structure, board, shareholder, regulatory, NCLT and any other third-party approvals, as may be applicable, the company said in a statement.
Meanwhile, shares of the company were trading at Rs 95 apiece, down 1.40 per cent, from previous close on BSE at 12:14 hours.
The company had sold 8,511 units in the domestic market in January last year, Toyota Kirloskar Motor (TKM) said in a statement.
“Three months into demonetisation and we can slowly see that the market is reviving with increased footfalls and customer enquiries,” TKM Director and Senior VP, Sales and Marketing, N Raja said.
In fact, even with demonetisation in effect, the company still managed to record a 17 per cent growth in sales in the last three months when compared to the same period last year, he added.
“This has been possible due to the overwhelming response the new Fortuner and Innova Crysta have received and we would like to thank our customers for the same,” Raja said.
The company also exported 916 units of the Etios series in January compared to 745 units in the same month last year.
Meanwhile, shares of the company closed at Rs 2,817.65 apiece, down 0.25 per cent, from previous close on BSE.
“The company has agreed to acquire 14.9 million equity shares aggregating 100 per cent of share capital of Mahindra Two Wheelers Europe Holdings (MTWL-Europe), from Mahindra Two Wheelers Limited, a subsidiary of the company,” M&M said in a filing to the Bombay Stock Exchange.
MTWL-Europe holds investment in a two-wheeler company in Europe which is Peugeot Motorcycle SAS.
The acquisition would result in MTWL becoming a direct subsidiary of M&M and would facilitate better focus on downstream two-wheeler business”, the filing added.
Further, the indicative time period for completion of the transaction is stipulated as 30 days.
Meanwhile, shares of the company were trading at Rs 1376 apiece, up 0.36 per cent from the previous close at 11:30 hours on BSE.
The company had sold 2,809 units in the same period of the previous year, it said in a statement.
“This is the third straight month that Nissan Motor has sold over 5,000 vehicles in one month. Our robust performance continued in August thanks to the strong sales of the Datsun redi-GO and its positive reception across India,” Nissan India Operations President Guillaume Sicard said in a statement.
Urging automakers to “not to compromise with quality”, he said innovation and technological upgradation can boost exports.
“Automobile industry, which is of Rs 4.5 lakh crore at present, we will take it to Rs 20 lakh crore in 10 years. It has the potential to become number one in the world,” Road Transport and Highways Minister said while addressing the annual meet of Automobile Component Manufacturers Association of India (ACMA).
He said the industry registered a growth of 8 per cent and accounted for exports to the tune of Rs 70,000 crore.
Urging automakers to go for research and innovation and not to compromise on quality, the minister said, “It is the government’s endeavour to frame such economic policies, which boost employment potential. To enhance employment potential we will have to increase exports. Innovation and research is key to it.”
He said unfortunately, the number of patents registered by India are very low as compared to the US and China which shows “industry’s motivation is less towards research and innovation. Made in India and Make in India is the priority of our government. I will request you to give attention to quality… if not, we will miss out on opportunities.”
To boost automobile exports, he said, the government has initiated a number of steps, including providing facilities to ports for exports besides promoting waterways.
“Our priority is to boost exports. Change your mindset. Western countries pay much attention to quality. We should improve our research and quality,” he said.
The minister said 1,58,000 vehicles were exported from Mumbai Port Trust last year and this year it will be 2 lakh cars.
He said the government was harnessing its 7,500 km of seafront and 20,000 km of waterways that will reduce transportation cost drastically.
However, car sales were down 5.18 per cent to 1,54,237 units as against 1,62,655 units in June last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
Motorcycle sales last month increased 7.52 per cent to 9,43,680 units as against 8,77,690 units a year earlier.
Total two-wheeler sales in June grew 12.26 per cent to 14,68,035 units as compared with 13,07,704 units in the year- ago month.
Sales of commercial vehicles were up 5.63 per cent to 56,032 units in June, SIAM said.
Vehicle sales across categories registered a growth of 10.7 per cent to 17,95,894 units from 16,22,254 units in June 2015, it added.
The company had registered sale of 3,31,317 units in the same month of 2015, it said in a filing to the Bombay Stock Exchange.
Motorcycle sales during the month fell 5 per cent to 2,73,298 units from 2,87,582 in June last year, the company said in a BSE filing.
Bajaj Auto’s commercial vehicles sales during the month remained flat at 43,671 units compared with 43,735 in the year-ago period.
Exports in June this year were at 1,23,252 units against 1,56,074 a year earlier, down 21 per cent.
Meanwhile, shares of the company were trading at Rs 2662.35 apiece, up 0.25 per cent from the previous close at 12:28 hours on BSE.