Multinational auto company, Tata Motors, has become the first Indian automaker to cross the 1 million annual sales mark, surpassing Chinese giants SAIC and Changan.
The automation giant sold a total of 1.049 million units in 2018 against 0.986 million units sold in the year 2017, as per a report in The Times of India. Light vehicle sales include cars, utility vehicles, vans and small pickup trucks of up to 3.5 tonnes.
According to JATO Dynamics, which is a global supplier of automotive business intelligence, covering 54 key markets which makes up for 90% of light vehicle sales, Tata Motors is the 3rd fastest-growing brand among the top 20 automobile companies of the world.
"It was the 16th largest car maker last year, getting close to Subaru and outselling some Chinese brands, but is not enough to become a key player in the industry. JLR has done a very good job by enlarging its line-up, launching modern cars, new tech, and gaining a decent part of the premium market (5.5% market share). But the Tata brand needs to address more markets", the daily quoted Felipe Munoz, JATO's global analyst, as saying.
He further said that, "There are still dark spots in this story. Growth was driven by the Tata brand, which sold 99% of its cars in India. JLR (-2%) struggled as they compete in the profitable but highly competitive premium segment".
(Edited by: Nehal Solanki)