Tata Motors aims at 10% volume growth

Tata Motors, India's biggest bus and truck maker, said it aimed over 10 per cent sales growth this year on the back of rising demand for both light and heavy commercial vehicles.

"The domestic commercial vehicle industry should grow by 8-10 per cent. Our growth will be more than that of the industry," Tata Motors vice president (sales and marketing) commercial vehicle unit, Shyam Mani told reporters on the sidelines of the launch of 'LPT 909EX Turbo' truck.

Last year the total commercial vehicle sales stood at 256,000 unit out of which Tata Motors sold 153,000 units.

"We see tremendous growth potential for light and heavy commercial vehicles over medium commercial vehicles in the wake of speedy work on a number of highway projects," he said.

He said during the first quarter, freight rates have declined by one per cent. At present, Tata Motors has 60 per cent market share in commercial vehicles.

The new truck is the first offering by Tata Motors in the competitive six-ton payload segment.