Tata Motors and Mahindra and Mahindra (M&M) are opened higher by 1% each after releasing vehicle sales numbers for the month of March 2012.
Tata Motors is trading higher by 2% at Rs 280 on reporting 20% year-on-year growth in total sales at 100,414 vehicles for the month of March 2012. The automobile major had sold total 83,363 vehicles (including exports) of Tata commercial and passenger vehicles in March 2011.
“The company’s domestic sales of Tata commercial and passenger vehicles for March 2012 were 95,047 nos., a 23% growth over 77,431 nos. sold in March last year. Cumulative sales (including exports) for the company for the fiscal are at 906,768 nos. a growth of 13% over 803,339 nos. sold last year," Tata Motors said in a statement.
M&M, on the other hands too, is trading higher by 1% at Rs 709 after reporting 25% increase in sales at 47,001 units in March 2012 -- the highest ever monthly sales number in the history of the company. The auto major had sold 37,522 units in the same month in 2011.
“The company’s domestic sales stood at 44342 units during March 2012, as against 35488 units during March 2011, an increase of 25%. The Passenger Vehicles segment (which includes the UVs and Verito) has registered a growth of 33%, having sold 23020 units in March 2012, as against 17320 units during March 2011," M&M said in a press release.