One of the largest automobile company in India, Tata Motors achieved yet another landmark today. The company has reported to produce 1 lakh commercial vehicles in a financial year. Tata Motors became the first Indian company to set this record.
“It is really a proud moment for the company as Tata Motors has become the country’s first automobile company to produce one lakh commercial vehicles in a financial year,” Ravi Pisharody, president of commercial vehicle business unit (CVBU) of Tata Motors, said/
Ravi Pisharody cautioned that he growth rate of commercial vehicle sector would depend on the interest rate. But, he also added that it has not affected this sector so far. The interest rate has to be maintained to achieve the growth rate, which was registered at 20 to 22 per cent this fiscal, he said adding that the growth rate in the next fiscal is likely to be 10 to 15 per cent.
Production of ‘world truck’ at the company plant at Jamshedpur is growing substantially, and they expect to produce around 6 to 8 models by the end of the next financial year. Tata Motors attributes this spurt in to increasing customer demand, and enhanced road conditions and infrastructure in India.
