Basic HTML Version
MD & A
71
CORPORATE OVERVIEW (1-31)
STATUTORY REPORTS
FINANCIALS (123-204)
Commercial Vehicles
892,349 748,659
19.2% 530,204 458,288
15.7% 59.4%
61.2%
Passenger Vehicles
2,538,418 2,450,356
3.6% 333,044 320,252
4.0% 13.1%
13.1%
Total
3,430,767 3,199,015
7.2% 863,248 778,540 10.9% 25.2% 24.3%
The industry performance in the domestic market during FY 2011-12 and the Company’s
market share is given below (Table - 1):-
Category
Industry sales
CompanySales
Market Share
FY
2011-2012
FY
2010-2011
Growth FY
2011-2012
FY
2010-2011
Growth
FY
2011-2012
FY
2010-2011
Source: Society of Indian Automobile Manufacturers report and Company Analysis
Commercial vehicles Include V2 Van sales;
Passenger vehicles include Fiat and Jaguar Land Rover branded cars
Industry Structure and Developments
CommercialVehicles:
During the current year, the domestic Commercial Vehicle market, recorded a growth of
19.2% with the highest ever sales of 892,349 vehicles. The Medium and Heavy Commercial
Vehicles (M&HCV) sector grew by 6.5%, while growth of Light Commercial Vehicle (LCV)
segment was at 29.1%. The lower growth of agriculture, manufacturing and construction,
mainly contributed to lower growth in Commercial Vehicle segment at 19.2% in current
year as compared to 27.3% in FY 2010-11 over FY 2009-10. Further, M&HCV demand was
mainly affected by higher interest rates and restricted availability of financing support, due
to tight monetary policy by the RBI.
The domestic industry performance during FY 2011-12 and the Company’s share are given
below (Table - 2):-
M&HCV
348,773 327,583
6.5% 207,086 196,651
5.3% 59.4%
60.0%
LCVs
543,576 421,076
29.1% 323,118 261,637
23.5% 59.4%
62.1%
Total
892,349 748,659 19.2% 530,204 458,288 15.7% 59.4% 61.2%
Category
Industry sales
CompanySales
Market Share
FY
2011-2012
FY
2010-2011
Growth FY
2011-2012
FY
2010-2011
Growth
FY
2011-2012
FY
2010-2011
Source: Society of Indian Automobile Manufacturers report and Company Analysis
LCVs include V2 Van sales
The Company’s sale of Commercial Vehicle in the domestic and international markets was
585,283 units representing a growth of 15.1% over the previous year. The growth was driven
by focused product actions, enhancement of quality of the service network, increased service
outlets, and financing options suited to customer needs. However, the domestic market
share during the year was 59.4%, lower by 180 basis points, compared to 61.2% last year.
The LCV segment continued to drive growth for the Company. The Company’s sales increased
by 23.5% to 323,118 units from 261,637 units in FY 2010-11, due to improved performance
Table - 1
Table - 2
FINANCIAL HIGHLIGHTS (32-45)