Tata Motors today said its medium and heavy commercial vehicle (M&HCV) segment, which had seen a fall in growth rate, will see a double digit figure in coming months on uptick in demand.
“We already had a double digit growth in April-July and that would continue. M&HCV has gone little below the double digit. But I think that the best of the year is left and it will pick up,” said Tata Motors Executive Director (Commercial Vehicles) Ravindra Pisharody.
The company is witnessing 10 to 12 per cent growth in the LCV segment this fiscal, which was not doing well till December last year.
He further added: “This year, we have started very promisingly… We already had a double digit growth in April-July and that would continue.”
“So now the base is very high. Financial year 2015-16 level was as high as the previous peak of FY 2011-12. So on that base we should be growing at 10 to 12 per cent,” said Pisharody on the sidelines of SIAM event.
LCV actually was not actually growing till December and has started growing from January, 2016 only, he added.
“In Q4 (2015-16) and Q1 (2016-17), we are at 10 to 12 per cent (growth). On a low base that should continue,” said Pisharody, who is also Vice President SIAM.
He also added that in the last two months sales of M&HV vehicles has gone down, which could be due to factors like rain. “There are two months…its too early to come to the conclusion what are reasons…,” he added. Last fiscal, Tata Motors had sold around 4 lakh units of commercial vehicles in domestic and global markets.