Tata Bolt received 1,500 bookings before price was announced
Tata Motors announced during the launch that 1,500 bookings were received for the Bolt before price was revealed, signalling that the hatchback is going to fuel the company’s growth big time. On the launch day, Tata Motors’ shares outpaced the market. The company closed the day at 2.7 percent higher share price (Rs. 566.30), whereas the market gained only 0.4 percent.
Tata Motors has been severely affected by the auto market slowdown in India for the past few years. It’s competitors like Maruti Suzuki, Hyundai Motor India, Honda Cars India and Mahindra & Mahindra have managed to brush off their shoulders and get back in the game unharmed, but Tata Motors suffered pretty badly. Their passenger car and utility vehicle sales never stopped dipping. It was the Zest compact sedan (launched in October 2014) which helped the company gain some momentum after over two years, and the launch of Bolt is expected to pick the company up and put it back in the ring.
Tata Motors has more important products planned for launch this year (including Kite hatchback and sedan), which should further help the firm throw some punch.
Via – Economic Times