Monday, October 26, 2009

Nano's Sales Soar

Posted by: Janielle Viggiano

Oct. 26 (Bloomberg) -- Tata Motors Ltd., India’s largest truckmaker, reported second-quarter net income more than doubled as economic growth boosted truck sales and the introduction of the Nano car revived demand.

Profit totaled 7.29 billion rupees ($156 million) in the three months ended in September, compared with 3.47 billion rupees a year earlier, Mumbai-based Tata Motors said in a statement today. That exceeded the 4.32 billion rupee median profit estimate in a Bloomberg survey of nine analysts.

Tata Motors’ vehicle sales rose in the three months through September, the longest-winning streak in at least two years, as a decline in auto-loan rates and increased spending by the government spurred demand. Chairman Ratan Tata began selling the Nano, the world’s cheapest car, in July, helping the company avoid the worst of a global recession.


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2 comments:

  1. it;s great t see that the company finally released the nano after production was pushed back for so long.

    Nick Vanikiotis

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  2. I've been wondering about Tata Motors for a while. Good article.

    Laura Reginelli

    ReplyDelete