Auto major Tata Motors today exuded confidence that it would perform better in the second half of the current fiscal and said the automaker has crossed the worst phase of the prevailing global meltdown.
"We are not yet out of the slowdown but have certainly improved much compared to the worst phase of October- December," Tata Motors Head, (Sales and Marketing) medium and heavy trucks, R Ramakrishnan said told reporters after unveiling a new range of trucks here.
Ramakrishnan expressed confidence that the company would perform better in the second half of the current fiscal compared to last year as the world market has improved.
Tata Motors reported a cumulative sales of 4,98,581 units in 2008-09, 14 per cent lower than 5,82,390 last year. The exports during 2008-09 declined by 38 per cent to 33,410 units from 54,272 vehicles a year ago.
Referring to the new range truck, Ramkrishnan said the product was expected to be launched in the next quarter (July- August) and export of the new vehicle would start by the end of this financial year.
Ramkrishnan said that with the new range of trucks, the company targets to increase its share in the export market to 20-25 per cent from 10 per cent at present.
