In the recent times, shares of most auto companies have witnessed an ascent, which gives some reason to the auto industry to cheer up. Almost every leading auto maker has experienced a hike in the value of its shares, however the segment vary from company to company. India's largest truck maker in terms of sales, Tata Motors, witness a rise in sales of up to 2.04% to increase the share value to Rs. 142.50. It is important to note that the stock had suffered a 52-week low of Rs. 137.65 in intra day trade on Tuesday, 13 September 2011. The company officially announced last week that its group Chief Executive Officer and Managing Director Carl-Peter Forster has decided to resign due to some unavoidable personal circumstances.
Another leader that desperately needed to break the plateau of its abysmal sales trend, got the much awaited relief. India's largest small car maker by sales Maruti Suzuki India managed to swell up its sales by 2.13% to take the share value to Rs. 1098. It finally showed some signs of recuperation after the 52-week low of Rs. 1045. Maruti Suzuki on Tuesday, 13 September 2011, communicated that it has hired 100 fresh regular employees at its Manesar plant in Haryana in an attempt to raise car production and axe out as much waiting time as possible for one its best-selling models, the Swift.
Mahindra and Mahindra (M&M), India's largest tractors and utility vehicles maker by sales is also a part of the league. Recently the sales figures for the company witnessed a rise of 1.61%. Mahindra & Mahindra, in a move to work on the previous lines, last week, introduced a new, high-end version of its Bolero SUV. The company believes that it can manage to sell more than 1 lac Bolero vehicles this fiscal year through March, against the 83,112 last year. The move is inspired by Mahindra& Mahindra's strategy that increased the auto sales by 30.38% to 37,684 units in August 2011 over August 2010.
Thus, the car makers can now expect the adamant trend to change and give way to opportunities that would boost up the overall performance of these companies.
