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Directors’ Report
57
CORPORATE OVERVIEW (1-31)
STATUTORY REPORTS
FINANCIALS (123-204)
Sales in the M&HCVs segment grew moderately at 5.3%.
Volumes at 2,07,086 units reflected amarket share of 59.4%.
This segment also saw the entry of new players, which put
pressure on the market share. However, sales of the
Tata
Prima
, the next generation truck continued to grow. An
increased focus on network development and customer
initiatives, laid the foundation for future growth inM&HCVs.
PassengerVehicles
In a year where the domestic car industry grew only by 3.6%,
the Company’s sales of passenger vehicles in the domestic
market (inclusive of
Tata
,
Fiat
and
Jaguar Land Rover
brands)
was at its highest ever at 333,044 units, representing a growth
of 4.0% over the sales of previous year. In an intensely
competitive passenger vehicles market, a market share at 13.1%
was same as last year.
Some of the highlights of this year’s performance were:
Sales of the
Tata Nano
increased to 74,521 units, a growth
of 5.8% over last year. The
Nano 2012
was launched in
November 2011 in 10 new colours, resulting in an increased
demand. Measures were undertaken to increase market
penetration by establishing low-investment dealerships
in interior towns.
Sales in the Compact segment (comprising
Indica V2
,
Indica Vista
,
Indigo CS
,
Fiat Palio
and
Punto
) grew by
10.5% to 1,76,104 units. The
IndicaVista refresh
, the
Indica
eV2
and the
Indigo eCS
were launched during the year,
boosting sales in this segment and improvingmarket share
to 20.6% from 19.1% last year.
Sales in the Mid Size segment (comprising
Indigo
and
IndigoManza
) were at 19,645 units. A slewof new entrants
in this segment affected market share, which declined to
9.6% from 21.9%.
In theUtilityVehicles (UV) segment, comprising
Sumo
,
Safari
,
Aria
and
Land Rover
, the Company sold 49,035 units, which
translated to a growth of 16.8% and a market share of 13.3%.
Sumo Gold
, a new and improved variant of the Sumo was
launched in November 2011, boosting UV sales.
In the Vans segment, market share increased to 5.2% from
0.8% as the
Venture
sales continued to grow.
Fiat
Sales were at 17,129 units representing a market
share of 0.67%.
The Company sold 2,274 units of
Jaguar Land Rover
brands during the year. Network for these brands continued
to grow with 13 dealerships across 11 cities in the Country
by the year end. The assembly plant for the
Freelander
in
Pune assembled more than 800 units since the start of
operations during the year.
Exports
Focused efforts in select ASEAN and Africa markets helped
international exports from India grow by 8.6% to 63,105
units in the fiscal year. The Company exported 55,079 commercial
vehicles and 8,026 passenger vehicles, a growth of 9.6% and
2.3% respectively over last year. A CKD plant was setup in
South Africa for the assembly of commercial vehicles.
Another plant is being setup in Indonesia and is expected
to start operations next year. The Company continues to
have a special focus on expanding its global footprint
and is targeting product actions specifically to cater to
international geographies.
Jaguar LandRover
Jaguar Land Rover sold 314,433 vehicles in FY 2011-12, an increase
of 29.1% on the prior reporting period. At the brand level,
wholesale volumes were 54,039 units for Jaguar and 260,394
units for Land Rover, growing 2.0% and 36.6%, over the previous
year, respectively.
Retail volumes in key growth markets saw significant increases
with China and the Asia Pacific region.
Some of the highlights of this year’s performance were:
Launch of the
Range Rover Evoque
in September 2011
with a world-wide roll out in December 2011, recording
FINANCIAL HIGHLIGHTS (32-45)