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Tata Gains in India with Shift to SUVs, Trucks
New SUV models and booming demand for trucks drove Tata Motors Ltd.’s operations in India to their first net profit in six years for the first half of the fiscal year that began on April 1.
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New SUV models and booming demand for trucks drove Tata Motors Ltd.’s operations in India to their first net profit in six years for the first half of the fiscal year that began on April 1.
Tata’s domestic unit sales for the period climbed 29% to 119,000 units. Deliveries of commercial vehicles surged 46% to 220,000 units. The company’s domestic business posted a net profit of 13 billion rupees ($178 million).
The upturn in the home market wasn’t enough to offset a slump by Tata’s Jaguar Land Rover unit in the U.K., which posted a £313 million ($408 million) net loss in the fiscal first half. JLR’s woes dragged Tata into a 29 billion-rupee ($391 million) overall loss for the period.
But The Nikkei says Tata’s upmarket shift in India could build sufficiently through the second half to deliver the company’s first group net profit in three years by the end of March.
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