"There was significant growth in November and December 2014 and the fourth quarter of FY15 will be better than the third quarter of FY15," says Mayank Pareek.
The going has been tough for the passenger vehicle business of Tata Motors . But the head of the company's car business Mayank Pareek said that the outlook for the future is improving every day despite the short-term dampening effect of excise duty rollback.
"There was significant growth in November and December 2014 and the fourth quarter of FY15 will be better than the third quarter of FY15," says Pareek.
Affordable and cheap car Nano too saw its numbers improve in November and December, he says.
On 4 percent excise duty hike, Pareek says it will be a big dampener for the industry.
Below is the verbatim transcript of Mayank Pareek's interview with CNBC-TV18's Alexander Mathew
Q: Tell us about your performance in November and December?
A: We are very excited about performance in the month of November as well as December. We have made significant growth and retail has been still better which is good. You are right we are -11 percent but if you see after Q1 we were -30 percent, after Q2 we were -20 percent, now we have come to -10 percent. What I can tell you is that after Q4 it will be better than what we are now.
Q: What is the strategy for the Nano and for the plant in Gujarat? I am sure that at the run rate that you are at right now it is not really utilising the capacity that you have over there. So, what is the plan as of now?
A: First plan is not to share the plan. In Nano we had lot of learning's which has made us a stronger company now. Going forward as you yourself said November and December numbers are better and you will keep seeing it continue.
Stay tuned for more...
Tata Motors stock price
On January 06, 2015, Tata Motors closed at Rs 512.20, up Rs 18.20, or 3.68 percent. The 52-week high of the share was Rs 550.80 and the 52-week low was Rs 331.05.
The latest book value of the company is Rs 59.58 per share. At current value, the price-to-book value of the company was 8.60.
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