Global demand muted; gradual improvement expected in domestic market: TaMo
Tata Motors expects demand to remain sluggish in overseas markets this fiscal while pinning hopes on a gradual bounce back in the domestic market on the back of new launches and the upcoming festive season.
Earlier this month, the Mumbai-based automaker reported a consolidated net profit of Rs 5,566 crore and total income of Rs 1,09,623 crore for June quarter.
"Overall, from a demand perspective, we do anticipate that as far as the global demand is concerned, it is likely to remain muted. It has been that way. It's likely to remain muted. No immediate changes there," Tata Motors Global CFO PB Balaji said in an analyst call.
In the domestic market, the company expects a gradual improvement in demand during the rest of the year aided by government plans to invest on infrastructure, healthy monsoons, favourable overall economic macros, new launches and upcoming festive period, he noted.
"So there is a need for absolute reason why there is an optimism as far as the domestic demand buil