The country’s largest vehicle maker Tata Motors achieved yet another milestone on Friday by becoming the first ever Indian car maker to produce one lakh commercial vehicles in a financial year.
In a statement given to the reporters in Jamshedpur, Ravi Pisharody, president of commercial vehicle business unit (CVBU) of Tata Motors, said, "It is really a proud moment for the company as Tata Motors has become the country's first automobile company to produce one lakh commercial vehicles in a financial year."
According to Mr. Pisharody, the growth rate of commercial vehicle sector would depend on the interest rate. In other words, the interest rate has to be maintained to achieve a sustainable growth rate. In the current fiscal the commercial sector grew at 20 to 22 per cent and is expected to grow at 10 to 15 per cent in the next financial year.
The performance of the Tata Motors World Truck manufacturing unit has been increasing substantially in past few months. TMWT had started its manufacturing operations in the starting of the current fiscal and the increasing demand and improved road conditions have further enhanced its performance.
