Tata Motors, the Indian automobile manufacturer has stated that it expects a single digit growth in the current fiscal 2013-14. The statement came from Mr. Karl Slym Managing Director Tata Motors after the carmaker has seen a fall in its sales for the fiscal 2012-13.
Mr. Slym stated that the carmaker’s overall sales for the fiscal 2013-14 are expected to be on the positive side. He added the sales expectations may further increase if the medium and heavy commercial vehicles segment of the company show recovery.
The Indian carmaker witnessed a fall of 29.2 percent in its domestic sales of passenger vehicle segment from 3,13,710 units sold in 2011-12 to 2,22,112 units in the 2012-13 fiscal.
According to the Society of Indian Automobile Manufacturers (SIAM), the total vehicle sales in India fell by 7.76 percent in the month of March 2013 in comparison to the same month in 2012.