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Maruti Beats Tata; Regains Most Valuable Automobile Company Status
Maruti Suzuki has taken the title of being the most valuable automobile company, taking down Tata Motors, which held the previous title.
This is the first time since Tata Motors has been beat since 2010. Tata Motors' current market value stands at INR 1.13 lakh crore, while Maruti Suzuki's value is at INR 1.26 lakh crore.
Maruti Suzuki, the mighty Indo-Japanese carmaker was also confident that it would achieve a double digit growth this fiscal year.
In the month of June, Maruti Suzuki sold 1,02,626 units, while Tata Motors sold 76,602 units. Maruti Suzuki posted a sales growth of 1.6 percent while Tata Motors saw a growth of just 1.2 percent, compared to June 2014.
Tata Motors claim that the reason for the company's struggle is the Jaguar Land Rover unit in China, that has been suffering. JLR has also witnessed a drop in sales of 3.08 percent in June, compared to the previous year.
