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72
Sixty-Seventh Annual Report 2011-2012
in the pickup segment and ramp up of production in the
Pantnagar plant aided volume growth in the LCV truck
segment. The commercial production has commenced at
Dharwad. The major launches in FY 2011-12 were Ace Zip and
Magic Iris. The sales of the Tata Ace continued to increase
year-on-year. However, the entry of new competition in the
small commercial vehicle category, and the expanding market
size in this segment, resulted in lowering of the Company’s
market share in LCV segment to 59.4% in FY 2011-12 from
62.1% in FY 2010-11.
In M&HCV category, the Company sold 207,086 units during
FY 2011-12, which resulted in a market share of 59.4%. The
economic crisis in the Euro Zone and political unrest in the
Middle East, mainly contributed to a slowdown in the global
economy. The real GDP growth in the Euro Zone dropped
successively each quarter of the year. SAARC and ASEAN
countries, however, continued to grow steadily. In particular,
the growth in Small Commercial Vehicle segments in these
geographies was robust. The new launches during FY 2011-12
include the Tata Divo, a super-luxury inter-city bus and new
variants in the Tata Starbus Ultra range.
The Company also showcased a fuel-cell bus and other
advanced hybrid technologies at the New Delhi Auto Expo in
January 2012.
During the year, the Company recorded its highest ever sales
of 333,044 vehicles in the domestic market, recording a growth
of 4.0% over last year, through launch of a variety of new
products – the Indica Vista and the Sumo Gold BS4 variant.
The Indigo eCS and the Indica eV2, with segment-leading
fuel efficiencies, continued to gain traction and market share
as fuel prices increased. The Venture, launched last year,
continued to receive good market response.
Nano sales continued to grow with volumes increasing by
5.8% over last year to 74,521 units. With focused initiatives to
Micro
74,521 70,431
5.8% 74,521 70,431
5.8% 100.0% 100.0%
Compact
856,072 834,271
2.6% 176,104 159,412
10.5% 20.6%
19.1%
Mid-size
204,729 174,074
17.6% 19,645 38,167 -48.5%
9.6%
21.9%
Executive
41,557 49,269 -15.7% 4,796 8,536 -43.8% 11.5%
17.3%
Premium and Luxury
12,027 12,097
-0.6% 985 425 131.8%
8.2%
3.5%
Utility Vehicles
368,272 315,417
16.8% 49,035 41,968
16.8% 13.3%
13.3%
Vans (Note a)
152,019 161,939
-6.1% 7,958 1,313 506.1%
5.2%
0.8%
Total (Note b)
2,538,418 2,450,356
3.6% 333,044 320,252
4.0% 13.1% 13.1%
Category
Industry sales
Company Sales*
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. * including Fiat & Jaguar Land Rover branded cars.
Note (a) Excludes V2 Van sales.
Note (b) Total Industry nos. include sales in other segments
Table - 3
PassengerVehicles:
The growth of Passenger Vehicles segment decelerated
to 3.6%, during the year; much lower as compared to the
Commercial Vehicles. Consequent to the inflation and slowing
economy, there was a decrease in disposable income,
impacting demand for cars. Petrol prices increased
substantially during the year, increasing the total cost of
ownership of petrol cars. This resulted into deferment of
purchases and shift in demand to diesel vehicles. Further, the
increase in interest rates adversely impacted car financing,
taking toll on demand.
The industry performance and the Company’s performance in
the Passenger Vehicle segment are given below
(Table - 3)
:-