Tata Motors Limited’s shares gained 2.5% on Oct 3, after the Indian automaker reported an 8% increase in total sales of its commercial and passenger vehicles, including exports, to 48,648 units in Sep 2016 from 45,215 units in Sep 2015. Cumulative sales from Apr through Sep 2016 were 258,598 units, up 7% from the prior-year period.
The year-over-year improvement in September sales was driven by higher passenger car sales and exports. The automaker’s domestic sales of Tata commercial and passenger vehicles totaled 42,961 units in the month under review, 5% higher than the year-ago level.
In the passenger vehicles business, Tata Motors’ domestic sales for Sep 2016 surged 24% to 14,601 vehicles from 11,732 vehicles in Sep 2015. The recently launched Tiago witnessed strong demand.
In the commercial vehicles business, Tata Motors’ sales in the domestic market dropped 2% to 28,360 vehicles in Sep 2016. Sales in the Light Commercial Vehicle business increased 19%, while Medium and Heavy Commercial Vehicles (M&HCV) witnessed weak demand.
Tata Motors’ export sales for the month of September rose 29% to 5,687 vehicles from 4,402 vehicles sold a year ago.
Tata Motors is one of the leading automotive manufacturers in India. The company has operations in the U.K., South Korea, Thailand, South Africa and Indonesia.
Peers include U.S. automakers such as Ford Motor Co. (F - Free Report) and General Motors Co. (GM - Free Report) , as well as foreign automakers like Honda Motor Co., Ltd. (HMC - Free Report) .
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Tata Motors Limited’s shares gained 2.5% on Oct 3, after the Indian automaker reported an 8% increase in total sales of its commercial and passenger vehicles, including exports, to 48,648 units in Sep 2016 from 45,215 units in Sep 2015. Cumulative sales from Apr through Sep 2016 were 258,598 units, up 7% from the prior-year period.
The year-over-year improvement in September sales was driven by higher passenger car sales and exports. The automaker’s domestic sales of Tata commercial and passenger vehicles totaled 42,961 units in the month under review, 5% higher than the year-ago level.
In the passenger vehicles business, Tata Motors’ domestic sales for Sep 2016 surged 24% to 14,601 vehicles from 11,732 vehicles in Sep 2015. The recently launched Tiago witnessed strong demand.
In the commercial vehicles business, Tata Motors’ sales in the domestic market dropped 2% to 28,360 vehicles in Sep 2016. Sales in the Light Commercial Vehicle business increased 19%, while Medium and Heavy Commercial Vehicles (M&HCV) witnessed weak demand.
Tata Motors’ export sales for the month of September rose 29% to 5,687 vehicles from 4,402 vehicles sold a year ago.
Tata Motors is one of the leading automotive manufacturers in India. The company has operations in the U.K., South Korea, Thailand, South Africa and Indonesia.
Peers include U.S. automakers such as Ford Motor Co. (F - Free Report) and General Motors Co. (GM - Free Report) , as well as foreign automakers like Honda Motor Co., Ltd. (HMC - Free Report) .
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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