The Prima 4028 S tractor is priced at INR2.1 million, and that with the trailer is priced at INR3.1 million.

The 4028 S tractor-trailer is expected to be followed during the course of the financial year with three other products two 49-ton tractor-trailers and a 31-ton tipper in key segments and routes.

The Prima range comprises of approximately 10 variants of multi-axle trucks, tractor-trailers, tippers, mixers and special application vehicles. The company said that the range has been jointly developed by Tata Motors and its two subsidiaries, Tata Daewoo Commercial Vehicle Company in South Korea and the Tata Motors European Technical Centre in the UK.

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In October 2009, the sales of commercial vehicles in the domestic market were 30,541 units, up 59%, compared to 19,154 vehicles sold in October 2008. Light commercial vehicle sales increased 57% to 18,625 units, compared to October 2008.

The passenger vehicles business reported a total sale and distribution offtake of 22,232 units (20,011 Tata + 2,221 Fiat) in the domestic market in October 2009, an increase of 28%, compared to 17,378 units (17,014 Tata + 364 Fiat) in October 2008. Exports decreased 20% to 2,852 units in October 2009, compared to 3,561 units in October 2008.

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CRISIL's ratings on Tata Motors Finance's debt programmes continue to be centrally based on the agency's ratings on the company's owner, Indian vehicles maker Tata Motors Ltd (BOM: 500570, rated A/"stable"/P1 by CRISIL), and factor in the strategic importance of Tata Motors Finance to Tata Motors, the latter's majority ownership of Tata Motors Finance and the support that it provides to the company.

Tata Motors Finance receives a significant level of business, financial and managerial support from Tata Motors; the company continues to be the captive financier for Tata Motors' vehicles. Tata Motors has also extended support by sharing the loss risks on certain models in the previous year and may continue to do so, going forward. It has infused equity capital in Tata Motors Finance regularly, including INR2bn in financial 2008/09, ended on 31 March 2009. It has also made available an inter-corporate deposit line to Tata Motors Finance, thereby demonstrating its commitment to providing capital and liquidity support as and when required.

CRISIL further believes that, given the operational synergies between the two companies and the shared name, Tata Motors will continue supporting the subsidiary.

CRISIL's rating outlook on Tata Motors Finance's debt and bank facilities is closely linked to its rating outlook on Tata Motors. CRISIL believes that Tata Motors Finance will remain strategically important to Tata Motors, and will continue to benefit from capital and management support provided by the owner. Changes in the outlook or ratings on Tata Motors may lead to a similar change in the outlook or ratings on Tata Motors Finance.

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