According to a top company official, Tata Motors expects to grow by more than 30% in the next financial year due to cyclical demand.
The company, which on Thursday unveiled its latest range of Intermediate and Light Commercial Trucks (I & LCV) – Ultra Sleek T-Series, starting at ₹ 13.99 lakh (ex-showroom Delhi), marking a return to demand Trying to cash in. And increase its market share in the segment.
“Now it can be said that the economic recovery is well and truly positive GDP growth rate,” Girish Wagh, president of Tata Motors, the commercial vehicle business unit, told reporters at a virtual conference.
He further noted that the CV industry is very closely linked to overall economic activity.
“We see that next year the CV industry should grow, do well and after two years of recession we should be in a cyclical recession again.”
On the expectations for the upcoming fiscal year growth, Mr. Waugh said, “Next year, therefore, we are seeing a growth rate in the high 30s, the kind of growth we are looking for in the overall industry.”
He said that the domestic CV industry has gone through a recession since November 2018.
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