After moving to Sanand, Gujarat due to a political agitation in Singur, West Bengal, Tata Motors has decided to compensate its vendors who were forced to move to Sanand after the company announced its decision.
While the company expects to start the commercial production from Sanand by April this year, the company has also agreed to retain the 997 acres of land at Singur as the lease agreement will be ready for renewal by March 2010.
While it was Ratan Tata's dream to launch small and affordable car for Indian consumers with a price tag of Rs. One lakh car was successful as the company launched it last year amid tremendous coverage from media agencies, the car may lose its price advantage. The small car will most probably lose the one-lakh tag soon as the second round of bookings open in the last quarter of the current year.
Tata Motors and other companies who purchased the land in Singur to set up a plant and auxiliary industries to manufacture Nano cars, have decided to hold on to the land even as the facility has moved to another location.
Union railway minister, Mamata Banerjee has said that she would set up a rail factory if the land is freed up by the company. Tata and other vendors have said that they would hold on to the lease titles. The Rail Minister plans to build a coach manufacturing facility on the land.
Ratan Tata owned Tata Motors posted its results for the month of February. India's largest Auto manufacturer posted good numbers after the good news from abroad where their Jaguar Land Rover acquisition also saw positive numbers for the first time after the acquisition in 2008.
The shares of Tata Motors rose on the second consecutive day after the company announced strong sales growth in the third quarter of the financial year.
Its shares rose 9% to a high of Rs 776 after it opened on Rs 729. The shares are now trading 7.5% high at Rs 766.
More than 500,000 shares were traded on the Bombay Stock Exchange while the daily average for two weeks is 580,000 shares.
On the National stock exchange the shares of the company touched an intraday high of Rs 774 and an intraday low of Rs 720. They were trading 7.4% up at Rs 764.
After suffering a loss of 26 billion rupees last year Tata Motors, one of India''s top automobile manufacturers has reported a consolidated net profit of 6.5 billion rupees for the December quarter of 2009.
A net sale of 259.8 billion rupees was registered by Tata Motors for the December quarter.
The profit was boosted by rise in sales and margins at its Jaguar Land Rover (JLR) unit in London as luxury buyers returned after the global crisis, helping send its shares up more than 6 percent. Jaguar Land Rover turned profitable in the December quarter with a net profit of 4.17 billion rupees.
Since the Tata takeover, Jaguar Land Rover has for the first time reported profit in a quarter. Ratan Tata led Tata Motors acquired Jaguar Land Rover in 2008. Since then, it faced many problems during the slowdown and fought bravely to each one of them and finally by axing some staff and increasing the sales of luxury cars in the recovery period it has reported profit for the first time.
After steering through a bumpy road last year, Tata Motors is very well on its way to ensure a profitable growth in the country. The company reported a consolidated net profit of Rs. 650 crore for the third quarter ended December
31, 2009 taking cue from the new product launches (Indigo Manza) and the benefits offered by the stimulus package.
According to the Mint newspaper India's largest lender State Bank of India plans to take 49% of the stake in Tata motors vehicle finance unit Tata Motors Finance. Bank is planning to expand its presence in the trucks and buses segment where it has no presence right now.
Both Tata motors and SBI have been in the discussion for the take selling since May when Tata Motors raised Rs 4,200 crore through non convertible debentures backed by SBI guarantee.
Tata Motors has decided to make some strategic changes. The first and foremost is that it is entering into the combat vehicle manufacturing business. The other is that the company is planning to sell some of its stake from its vehicle sales division.
Indian auto major, Tata Motors Group global sales which includes Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, Tata passenger vehicles along with distributed brands in India, and Jaguar and Land Rover were 85,714 units in January 2010, a growth of 93% over same month previous year.
Tata Motors reported impressive figures on the back of on the strong global sales as the sale of UK-based luxury brands Jaguar and Land Rover sales nearly trebled, as well as the sales of all commercial vehicles were 40,334 in January 2010, a growth of 115 percent. Cumulative sales for the fiscal were 322,470, a growth of 32 per cent.
Kolkata, Feb 15 - Auto major Tata Motors group global sales, comprising Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, grew by 93 percent to 85,714 in January this year, a company statement said here Monday.
It also included Tata passenger vehicles along with distributed brands in India, and Jaguar and Land Rover.
Sales of all commercial vehicles were 40,334 in January 2010, a growth of 115 percent. Cumulative sales for the fiscal were 322,470, a growth of 32 percent.
It is the era of dominance as Tata Motors plights the sales figure as it gains the number two position. What seemed to be a downward slope in the last two years gave a reason to smile in 2010. Tata Motors sold 31,081 units in January, marking a growth of 48 per cent over the same month last year.
Lusaka (Zambia), Jan 7 - India's 'people's car' will certainly drive down the roads of Africa, with the Tata group conducting research on the rules and regulations of the different markets in this vast continent.
"(Tata) Nano is definitely the future in Africa," Raman Dhawan, managing director of Tata Africa Holdings Ltd, told IANS in an interview here.
Tata Africa Holding is the main promoter company for the Indian conglomerate Tata Group's businesses in Africa, where it has a presence in 10 countries.
New Delhi, Jan 5 : Swedish auto major Volvo Tuesday launched a new bus powered by compressed natural gas (CNG) for the Indian market to take on rivals like Tata Motors and Ashok Leyland.
"This CNG variant is being built at our plant near Bangalore. It has six seats more than other luxury buses on the Indian roads," said Volvo Bus India managing director Akash Passey at the Auto Expo here.
New Delhi, Jan 5 : Tata Motors will launch its Nano small car in the US in three years after considerably modifying it, group chairman Ratan Tata said Tuesday.
"We recognise there is a market for the Nano in developing countries. We also recognise there is a market for a low-priced car in the developed world," Tata said after unveiling four low, mid- and high-end vehicles on the opening day of Auto Expo 2010.
During the course of his conversation with reporters at the Secretariat on Saturday, West Bengal Chief Secretary Ashok Mohan Chakraborti confirmed that the State government had initiated formal talks with the Tatas about getting back the Singur land, taken by the Tata group for locating its Nano small car project.
The 997-acre land, which the government had acquired on behalf of the Tatas and leased out to Tata Motors for setting up Nano factory, has been left unused by Tata. Since the land has not been put to use as per the terms of the agreement, the government is asking the company to return it.
New Delhi, Dec 24 : Tata Motors, the manufacturers of Delhi Transport Corporation's (DTC) low-floor buses, Thursday said it would tighten the maintenance schedule of the vehicles to avert fire accidents.
Seven low-floor buses, running on compressed natural gas, have caught fire between Nov 21-Dec 21.
Going by the official sales data recently revealed by the Tata Motors Group, the company’s global sales registered a whopping 62 percent year-on-year increase in November.
Tata Motors – which is engaged in the production and marketing of heavy, medium and light commercial vehicles, passenger cars, and utility vehicles – specified that its global sales comprise the sales of Tata’s passenger vehicles with brands in India and Jaguar and Land Rover; and the entire range of commercial vehicles of Tata, Tata Daewoo and Hispano Carrocera.
Tata Motors, the automobile manufacturing giant of India, has announced that the company’s British subsidiary Jaguar Land Rover (JLR) sales has helped the company’s global sales to increase by 62% in the month of November.
The company has informed that the JLR has sold 18,825 units in November, out of which 4,333 units were sold by Jaguar, which is 2% down, while Land Rover sales registered an increase of 45% to 14,492 units.