Filed under: Car Buying, Trends, Etc., Earnings/Financials, India, Tata
Even when you (intend to) make the cheapest brand-new car in the world, you can't escape an economic downturn. Global jitters and year-end hemming and hawing have conspired to slice Tata's December sales figures nearly in half compared to a year ago. December is a traditionally slow month for auto sales as buyers try to put off expenditures until the next year (when incentives are more attractive on existing stock), but even accounting for the bargain hunters, this is a major drop.
Everyone, everywhere is down, and Tata Motors stock has taken a beating thanks to the economy and costly external issues like
plant troubles. That said, recent interest rate cuts have buoyed company shares in hopes that the Nano (not to mention Saint CarBuyer) will soon arrive, and if nothing else, they still have the
Indica's longevity to celebrate.
[Source:
Reuters]
Tata Motors sales plunge by nearly half originally appeared on Autoblog on Mon, 05 Jan 2009 10:29:00 EST. Please see our terms for use of feeds.
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05-01-2009, 06:30 PM
