India's largest auto company Tata Motors has informed that its global sales have gone up by almost 39% for the current year. In March, 2010 the sales of Tata motors has reported to be 101,712 units. For the fiscal year 2009-10 the sales of the company was 872,951 units which registered a growth of 19% from the preceding year.
The sales of all the passenger vehicles of Tata Motors were 53,776 units in the month of March 2010. It has been a striking 28% growth for the company in passenger vehicle section.
Moody's Investors Service has upgraded Tata Motors Ltd's rating from B3 to B2 firm. Since couple of years or so, Tata Motors has been in the news for various reasons. First it has dedicated its 'People's car' to the nation and the launch of the car received good response.
Then it has tackled the Jaguar Land Rover business quite well and now even working on several new projects. One of Moody's AVP/Analyst, Ivan Palacios has said that the rating upgrade is an indicator of company's improved performance.
Ravi Pisharody, President of Tata Motors Commercial Vehicles Business Unit must be a very happy man these days as the light commercial vehicle Tata Ace which was launched five years ago by Tata Motors literally sparked a revolution in the humble goods carrier segment.
It has been reported that India's top commercial vehicle maker Tata Motors is working on another small car just as its 'Nano'.
This time it will be bigger than 'Nano' and will have a price of around 3 lakh. The sales of small car have picked up gradually and have encouraged Tata to develop yet another small car on a completely new platform. The codename of the new compact small car has been Dolphin.
After Tata Motors announced the launch of Nano last year, the world's cheapest car is making a lot of noise in the Indian marketplace. The company hasn't even reached the mass-volumes stage so far but the product has been an instant hit in the Indian market.
Another brand new Tata Nano caught fire in less than a month’s time. Nano was to be delivered in Vadodara when it burnt into flames.
Last month, a similar incident took place in Mumbai when the owner of the car was riding brand new Tata Nano from showroom to his home; his dream caught fire on his way to home.
In this case, 8 Nano’s were being driven to company’s dealer in Ahmadabad to be transported in Vadodara. Driver managed to escape safely.
As the BS-IV norms will come into effect from the 1st of April, the auto makers have finalised plan to make the hole in the consumers' pocket even bigger in size. Under the BS-IV norms, all of the automakers present in the country would necessarily need to upgrade the products according to emission norms and hence it would make the affair expensive for the consumer at the end of the day.
FIAT India, a 50:50 JV between the Italian automaker FIAT and the home-grown Tata Motors, is aiming to launch another hatchback priced in the range of Rs. 3 lakh - 3.5 lakh in the Indian market by the end of 2011. FIAT India's CEO Rajeev Kapoor has recently confirmed the fact that the company is working on a small car for the Indian market which will be launched by the end of next year or maximum by early 2012.
Tata Motors has recently decided to offloads its 20% stake in Telco Construction Equipment Company Ltd (Telcon) to the latter's Japanese partner for a whopping Rs. 1,000 crore.
After the deal will be in effect, Hitachi will own a 60% stake in Telcon being the largest stakeholder in the company. The offloading exercise is believed to be Tata Motors' ongoing deleveraging exercise. In fact, as the deal ends it will empower Hitachi to get Telcon a new growth base as it work on significant new technology transfer to boost the firm's operations.
A brand new Tata Nano purchased by a Mumbai resident, Satish Sawant caught fire when he was taking it home from the showroom.
Satish cannot drive so the showroom had provided him with a driver when a biker asked him to look at the rear of the car which was in flames.
"We are still trying to understand why this happened and what the reasons behind the incident were," said a spokesperson for Tata motors. The accident was described as a "stray one".
While a lot has already been on the plate of Tata Motors, India’s biggest commercial vehicle maker but the company still boldly asks the question how much is actually enough? After Nano, JLR and the recent announcements for the defence sector, the auto major has announced that the company will open a factory at Myanmar.
According to the recent reports, the project will be funded by the Indian government and the plant will be used to make commercial vehicles. The company said in a statement that the plant will have an annual capacity of producing 1,000 vehicles, the Mumbai-based company said.
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.