According to sources familiar with the matter, Rajiv Dube, President of the Passenger Car Division at Tata Motors Ltd. has resigned from his position. He will now be looking at various opportunities beyond the core automotive arena.
Though it was not clear what has prompted the veteran to resign from his position, sources said that he is in talks with a conglomerate that doesn't operate in the automobile business for an opportunity, which he has been looking at for long.
The Tata Motors Group global sales, including Tata, Tata Daewoo and Hispano Carrocera range of commercial vehicles, Tata passenger vehicles together with distributed brands in the country, and Jaguar and Land Rover, stood at 77,732 units, up 53% during the last month (April).
The company said that sales of all commercial vehicles during April increase by 40% to 34,470 units.
The company's passenger vehicles sales during the same month jumped 66% to 43,262.
Jaguar Land Rover worldwide sales during the last month surged by 61% to 17,909 units.
After Ratan Tata made his dream of launching a car priced at Rs. One lakh true in 2009 when it officially gave the keys of its first owner, the small wonder from the Tata Motors stable was believed to create magic in the Indian automobile industry.
However, the fact that it still hasn't reached a state of high volumes, the road has still many miles left for Nano to cover.
Technical Analyst Ashwani Gujral has maintained 'buy' rating on Tata Motors stock to achieve a medium term target of Rs 870.
According to Mr. Gujral, interested traders can purchase the stock with a stop loss of Rs 785.
Today, the shares of the company opened at Rs 820 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 882.20 and a low of Rs 255 on BSE.
Current EPS & P/E ratio stood at 34.05 and 23.51 respectively.
On May 10, Tata Motors Ltd decied to lift up INR1 billion by selling bonds.
The third largest passenger car maker in the country, Tata Motors Ltd has appointed Timothy Leverton as head of its engineering, research and development (R&D) division.
Tata Motors has launched a new version of Indica Vista in the capital of India. The latest vehicle included to India Vista range is the Indica Vista Drivetech4 from Tata Motors.
The World's cheapest car, Tata Nano may have got the much-desired hype at the earlier stages, but today, it is very easy for the consumer to get hold of the Tata Nano despite the fact that the company has closed its bookings for the time being.
In fact, the consumer can get it readily available with the dealers as they possess unsold stock but it is also available in the used car market from the past three months.
It gives little surprise to analysts to note that the home-grown automotive giant Tata Motors is losing on the market share in the Utility vehicle segment slowly and steadily to the market leader in the segment, Mahindra & Mahindra owing to dwindling sales of Safari and the absence of refreshes or new launches by the automotive player.
In fact, it may be noted here that during the 2009-10 period the sales in the UV segment zoomed up by 21% at 272,733 units that was decent enough as compared to the 26% growth attained by the overall industry.
While the home-grown automaker, Tata Motors is expected to be on the brink of gaining momentum as far as the volumes for the world's cheapest car, Tata Nano is concerned, it is learned that the company is also working on a plan to launch another small car in the Indian market.
The product is expected to debut in 2012 that will be launched with an 800cc engine in the domestic market.
As the Tata Motors' Sanand unit is set to roll out it first unit of Tata Nano and spruce up the volume of the world's cheapest car, it is expected that it will take the home-grown automotive giant to zoom ahead of the second largest automotive player in the domestic market, Hyundai Motors India.
According to the spokesperson of Tata Motors Debashish Ray, the company will start manufacturing its $2500 car by the 30th of April and the plant will produce 2.50,000 units on an annual basis.
Stock market analyst Pradeep Surekha is of the view that investors can sell Tata Motots Ltd stock with a target of Rs 780.
According to him, investors can sell the stock with a strict stop loss of Rs 804.
If the stock fell below Rs 774, it may see more weakness.
Today, the stock opened at Rs 799.70 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 842 and a low of Rs 230 on BSE.
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.