Tata passenger vehicle sales highest ever for any month in January 2012
Tata Motors’ total sales (including exports) of Tata commercial and passenger vehicles in January 2012 were 87,465 vehicles, higher by 16% over January 2011. The company’s domestic sales of Tata commercial and passenger vehicles for January 2012 were 80,382 nos., higher by 14% over 70,475 nos., sold in January last year.
Cumulative sales (including exports) for the company for the fiscal are 714,235 nos., a growth of 11% over 642,415 nos., sold last year.
The company’s sales of commercial vehicles in January 2012 in the domestic market were 45,713 nos., a 14% growth, compared to 40,263 vehicles, sold in January last year. LCV sales were 27,375 nos., a growth of 15%, compared to 23,776 vehicles sold in January, last year. M&HCV sales stood at 18,338 nos., a growth of 11%, compared to 16,487 vehicles sold in January, last year.
Cumulative sales of commercial vehicles in the domestic market for the fiscal are 420,045 nos., a growth of 18% over last year. Cumulative LCV sales are 254,340 nos., a growth of 24% over last year, while M&HCV sales stood at 165,705 nos., a growth of 10% over last year.
The passenger vehicles business reported a total sale and distribution offtake of 36,770 nos. (34,669 Tata + 2,101 Fiat) in the domestic market in January 2012, higher by 14% compared to 32,386 nos. (30,212 Tata + 2,174 Fiat) in January last year. Sales of Tata passenger vehicles for January 2012 are at 34,669 nos., a growth of 15% over 30,212 nos., sold in January last year, and highest ever for any month. Sales of the Tata Nano were 7,723 nos., higher by 15%, compared to 6,703 nos., sold in January, last year. The Indica range sales were 11,534 nos., higher by 9%, over 10,591 nos., sold in January, last year. The Indigo range recorded sales of 9,272 nos., higher by 10%, over 8,456 nos., sold in January, last year. The Sumo/ Safari/ Aria/ Venture range accounted for sales of 6,140 nos., a growth of 38%, over 4,462 nos., sold in January, last year.
In the late afternoon, Tata Motors was trading at around Rs248.35 per share on the Bombay Stock Exchange, 1.95% up from the previous close.
“There is an inflexion point beyond which fiscal deficits militate against growth. Government borrowing is not bad per se, but excessive borrowing is. There is therefore a need to cap total public debt as a proportion of GDP,” RBI governor Subbarao said
Mumbai: Cautioning the government that excessive borrowing is bad, Reserve Bank of India (RBI) governor D Subbarao on Wednesday urged the government to put a cap on the public debt as it would hurt growth, reports PTI.
“There is an inflexion point beyond which fiscal deficits militate against growth. Government borrowing is not bad per se, but excessive borrowing is. There is therefore a need to cap total public debt as a proportion of GDP,” Mr Subbarao said in an address at the International Research Conference here.
The government’s fiscal deficit in 2011-12 is expected to exceed the budget estimate of 4.6% of the gross domestic product (GDP) on account of subdued receipts and overshooting of the subsidy bill by at least Rs1 lakh crore over and above the original projection.
In order to bridge the receipt-expenditure gap, the government plans to exceed its borrowing target for the current fiscal by Rs92,000 crore over budget estimate of Rs4.20 lakh crore.
The RBI had also flagged the issue of rising fiscal deficit at several occasions earlier, including its third quarter monetary policy review in the last week of January.
The government, as indicated by finance minister Pranab Mukherjee, is expected to announce steps to contain fiscal deficit in the budget for 2012-13 to be unveiled sometime in March.
Due to better performance in the previous months, the country’s exports grew by 25.8% to $217.6 billion in the April-December 2011-12 while imports in the nine-month period rose by 30.3% to $350.9 billion, leaving a trade gap of $133.2 billion
New Delhi: Exports grew by merely 6.7% to $25 billion in December 2011 compared to the same month last year due to demand slowdown in the western markets of the US and Europe, reports PTI.
On the other hand, imports were up by 19.8% year-on-year to $37.7 billion in the month, according to data released by the commerce ministry today.
In December 2010, exports stood at $23.4 billion, while imports were worth $31.5 billion. The trade deficit stood at $12.7 billion in December 2011 compared to $8 billion in the same period last year.
A muted export growth is mainly due to declining demand from Europe and the US.
Due to better performance in the previous months, the country’s exports grew by 25.8% year-on-year to $217.6 billion in the April-December 2011-12.
During the first nine months of the fiscal, imports also rose by 30.3% to $350.9 billion leaving a trade gap of $133.2 billion.
In December, oil imports grew by 11.2% to $10.2 billion while non-oil imports rose by 23.3% to $27.4 billion over the year-ago period.
During April-December, oil imports stood at $105.5 billion, an increase of 40.3% and non-oil imports rose by 26.5% to $245.3 billion.