Tata Motors April sales down 7 pct y/y image

Indian carmaker Tata Motors reports 60,086 vehicles sold in April, 7 percent lower compared to April 2011. The company’s domestic sales of Tata commercial and passenger vehicles for April 2012 were 57,305 nos., lower by 5% over 60,125 nos., sold in April last year.

Tata Motors makes both commercial vehicles and passenger cars, including the ultra-cheap Nano. The figures exclude the company’s luxury Jaguar and Land Rover brands.

Tata sold 100,414 vehicles in India in March, up 20% from the year earlier. Mahindra, which leads in sport-utility vehicles, saw its sales jump 25%. Maruti Suzuki sold 125,952 vehicles, up 3%.

The company recorded a 40.5% increase in profit to INR.34.1 billion ($624.7 million) or 51 paisa (one cent) per share in the third quarter of fiscal 2012 compared with INR.24.2 billion ($444.6 million) or INR.1.26 (2 cents) per share in the corresponding quarter of last year.

In other related news, Tata Motors is in talks with banks to raise 3 billion rupees via bonds, two bankers who have been approached said on Friday.

The maturity of the funds being raised is still under discussion, said these bankers.

                     April 2012     April 2011    pct chg	
   TOTAL SALES             60,086          N.A.      -7	
   DOMESTIC SALES          57,305         60,125     -5	
   NANO                     8,028         10,012    -20	
   EXPORTS                  2,781          4,258    -35