Tata Motors reports 24% increase in global sales in September

Tata Motors Ltd., India’s largest commercial vehicle maker, said that global sales for September rose by 24% compared to the same month last year. The company sold a total of 107,258 units last September. Net sales growth was attributed to the good performance by British luxury brands Jaguar and Land Rover. Sale of the two brands rose 42% in September, with a total of 27,639 units sold. But the company’s total passenger vehicle sales dropped to 55,539 units, or 21%, in the month from the same period last year. Commercial vehicles sales showed an increase of 28%, with 51,719 units sold compared to the same month last year. With rising interest rates and surging petrol prices, the company had marginal gains in net profit, up by 0.50% to Rs19.99 billion (US$385 million) in the fiscal first quarter, with a total of Rs19.89 billion (US$382 million) in the same quarter last year. Tata Motors sold 78,786 units in September, up by 22% compared to the same month last year. Exports in September also posted an increase of 23% year-on-year. But sale of its cheapest car, the nano, was down by 47% with only 2,936 units sold in September, compared to the same month last year. (October 15, 2011)