Tata Motors sales decline in May 2007

Tata Motors announced that its May 2007 sales slipped 4% to 42,558 units, as compared to previous year. May 2007 commercial vehicle (CV) sales declined to 20,675 units from 21,903 units in May 2006. May 2007 passenger vehicle sales were down 3% at 17,580 units, from previous year.

Tata Motors net profit rose 25.89% to Rs 576.72 crore in Q4 March 2007 from Rs 458.11 crore in Q4 March 2006. Sales rose 20.11% to Rs 8267.00 crore in Q4 March 2007 from Rs 6882.75 crore in Q4 March 2006.

The net profit rose 25.15% to Rs 1913.46 crore in the year ended March 2007 (FY 2007) from Rs 1528.88 crore in FY 2006. Sales rose 33.31% to Rs 27535.24 crore FY 2007 as against Rs 20654.35 crore in FY 2006.

As per reports, Tata Motors has more than doubled its stake in Automobile Corporation of Goa, one of its major suppliers. The move underlines Tata Motors’ plan to increase control of the growing bus body business. Tata Motors, a co-promoter of Automobile Corporation with a stake of 10%, has upped its stake to 21% through a rights issue.