Tata Motors Limited TTM recorded a 5% increase in total sales of its commercial and passenger vehicles, including exports, to 39,496 units in May 2015 from 37,538 units in May 2014. The year-over-year improvement was driven by better sales of Medium and Heavy Commercial Vehicle (M&HCV) and Passenger Cars, along with higher exports. The automaker’s domestic sales of commercial and passenger vehicles were 34,818 units in May 2015, in line with the year-ago level.
In the passenger vehicles business, Tata Motors’ sales for May 2015 increased 21% to 11,138 vehicles from 9,230 vehicles sold in May 2014. The improvement was driven by better performance in the cars segment, driven by the launches of Zest and Bolt, and a positive response to the new GenX Nano. Sales of all Tata Motors’ passenger vehicles in May 2015 surged 32% to 9,176 units, while sales of utility vehicles declined 15% to 1,962 units.
In the commercial vehicles business, Tata Motors’ sales for May 2015 in the domestic market went down 6% to 23,680 vehicles due to a decline in industry demand for Light & Small Commercial Vehicles. Sales in the Light & Small Commercial Vehicle business declined 19% to 12,892 vehicles, while M&HCV sales improved 17% to 10,788 vehicles.
Tata Motors’ export sales for May 2015 surged 47% to 4,678 vehicles from 3,191 vehicles sold a year ago.
Tata Motors is one of the leading automotive manufacturers in India. The company has operations in the U.K., South Korea, Thailand, South Africa and Indonesia.
Currently, Tata Motors carries a Zacks Rank #3 (Hold).
Better-ranked stocks in the same industry include Daimler AG DDAIF, Fox Factory Holding Corp FOXF and Wabash National Corp. WNC, all sporting a Zacks Rank #1 (Strong Buy).
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