Slow economic recovery worries Tata Motors
Jamshedpur : Karl Slym, Managing Director of Tata Motors, says he met a number of customers — truck owners with large fleets of 300-450 vehicles — during a recent visit to Hyderabad.
All are prepared to buy more trucks, but plan to wait a few months for positive signs of economic revival, he told Business Line. This is the problem with the auto industry’s medium and heavy commercial vehicle segment (M&HCV). There are no clear signs of a revival in the economy, says Ravindra Pisharody, Executive Director and Head, Commercial Vehicle Business Unit, Tata Motors.
Revival still distant
Unlike in 2008, when too truck sales fell but recovered quickly, this time the fall in M&HCV sales is because of internal factors. The economy itself is forecast to grow around five per cent. The slowdown last time was caused by global factors.
At a press conference on the occasion of the roll-out of the two millionth commercial vehicle from the Jamshedpur plant, Slym and Pisharody reiterated that a revival in the economy was still some months away, as far as the truck business was concerned. Asked if the green shoots the Government was talking about were visible, Pisharody said: “Unfortunately not.”
BJP leader Subramanian Swamy criticised the Aam Aadmi Party for taking support from the Congress. Swamy said that the AAP has committed suicide by opting for an alliance with the Congress.
Date 23-02-14, Duration 1:43, Views 59079
Date 23-02-14 1:43
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