Monday, August 30, 2010

Tata Motors entered into an understanding with IndusInd Bank

Tata Motors has entered into an understanding with IndusInd Bank for financing its range of passenger vehicles to provide an added facility of finance to its customers. A memorandum of understanding was signed by senior executives of both the companies today. Mr. R. Ramakrishnan Vice President, Passenger Vehicle Business Unit, Tata Motors Limited said, “The customers of Tata Motors will now have access to customised finance products from IndusInd Bank. We are sure that our growing network will also drive the tie-up to achieve the aspirational growth targets.


Tata Motors

IndusInd ranks in the top retail financiers for Tata Motors commercial vehicle segment today and we are happy to extend this partnership for our passenger vehicle business as well. IndusInd Bank will be one of the preferred financiers for Tata cars and utility vehicles.” Announcing the tie-up, Mr S. V. Parthasarathy, EVP-Consumer Finance Division, IndusInd Bank said, “With this tie-up IndusInd Bank would be in a position to cater the financial needs of Tata Motors customers for the entire range of vehicles sold by Tata Motors. With their huge reach IndusInd Bank and Tata Motors would be able to cater to AAM AADMI .”


Tata Indica V2

Tata Motors is India's largest automobile company, with consolidated revenues of Rs. 92,519 crores ($ 20 billion) in 2009-10. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 5.9 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top three in passenger vehicles.

Thursday, August 26, 2010

Tata motors to build JLR Engines

Jaguar-Land Rover, the British subsidiaries of Tata Motors, will soon run on engines designed by Tata Motors' engineers. The company said that the Indian engineers will be working in designing the new JLR engines. Tata Motors has bought JLR from Ford for dollar 2.3 billion in 2008. This will be along-term threat to Ford Motor Co. that is currently under contract to deliver JLR engines. As per to the transaction, Tata Motors was supposed to buy vehicle components and technology from Ford. Tata Motors is intending to build new engines for JLR models, said Tata Motors chief executive Carl-Peter Forster. Deepesh Rathore, chief auto analyst at IHS Global Insight in New Delhi, said that image is very important in this matter and the cars cannot keep on running with Ford engines.

Tata motors to build JLR Engines

However, according to official spokesperson of Tata Motors that there are capabilities in the Tata Motors Group and that there could be an option to build smaller engines in-house. It does not mean that the company will develop engines for all JLR models in the future to replace Ford. The Global demand for small engines is also possible to increase engines becomes more powerful and fuel efficient, added Forster. Besides, Tata Motors is planning to assemble Land Rover Freelander for domestic sales in India next Year. On the other hand, the company all set to launch its new crossover car model, Tata Aria soon in India.

Friday, August 20, 2010

The new Tata Indica V2 Turbomax launched in India

Tata Motors, major auto market leader in India, has just launched the new Tata Indica V2 Turbomax variant in the Indian auto market. The new upgraded version of Indica V2 has developed with the latest BS-IV emission norms compliant in the country. The company will offer two variants of the newly launched version of Indica including DLS and DLE. The DLS variant features power steering making it the top end model while in the DLE model, the power steering has been eliminated. The common feature in both the DLS and DLE model is that both of them are devoid of any new safety features, for example airbags or ABS. The all new upgraded version is available with attractive various shades including Furnace Red, Magnesium Grey, Arctic Silver and Mint White.

Tata Indica V2

Tata Indica V2 Turbomax is powered by 1.4L turbocharged engine which produces top power output of 71PS at 4500rpm and peak torque of 135Nm at 2500rpm. The new model has got good capabilities to deliver excellent fuel efficiency of around 14 kmpl on highway and 19 kmpl in the city. Tata Indica V2 Turbomax is having classy features including body coloured bumpers, clear lens headlamps, new clear lens tail lamps, front grille with chrome strip, and new ORVMs on the exteriors. The stylish features of the interiors include a new horn pad for steering wheel and digital odometer. On the other hand, Tata Motor is also looking forward to launch new crossover car model, Tata Aria soon in India. It was already launched at the 10th anniversary of Delhi Auto Expo 2010.

Tuesday, August 17, 2010

Tata Motors global sales grow by 36 percent in July 2010

The Tata Motors Group global sales, comprising of 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 90,646 nos. in July 2010, a growth of 36 percent over July 2009. Cumulative sales for the fiscal (April 2010 – July 2010) are 339,824, higher by 46 percent compared to the corresponding period in 2009-10. Sales of all commercial vehicles were 40,576 nos. in July 2010, a growth of 30 percent. Cumulative sales for the fiscal are 151,730 nos., a growth of 38 percent. Sales of all passenger vehicles were 50,070 nos. in July 2010, a growth of 42 percent. Cumulative sales for the fiscal are 188,094 nos., a growth of 53 percent.

Tata Indica Vista

Tata passenger vehicle sales, including those distributed, were 30,684 nos. for the month, a growth of 50 percent. Cumulative sales for the fiscal are 111,555 nos., a growth of 55 percent. Jaguar Land Rover global sales in July 2010 were 19,386 vehicles, higher by 30 percent. Jaguar sales for the month were 5,676, higher by 26 percent, while Land Rover sales were 13,710, higher by 31 percent. Cumulative sales of Jaguar Land Rover for the fiscal are 76,539 nos., higher by 50 percent. Cumulative sales of Jaguar are 21,131 nos., higher by 31 percent, while cumulative sales of Land Rover are 55,408 nos., higher by 59 percent.

Friday, August 13, 2010

Tata Indica Vista Electric to be launched in Europe in 2010

India's major passenger car manufacturer, Tata Motors is planning to launch the electric version of its Tata Indica in Europe by the end of current calender year. The EV of Indica Vista is in the last stage of development, it was already showcased by the company in 2009 at the Geneva Motor Show. Since the British government has started promoting electric vehicles under the Alternative Fuels Infrastructure Grant Programme, UK has developed as one of the main targets for such launches. It has indeed being recognised as a place which is giving a perfect platform for vehicle like Vista. It is also worth mentioning here that Tata Motors European Technical Centre had received a GBP 10 million loan for developing Indica Vista EV in UK.

Tata Indica Vista Electric
Tata Motors has received projects of electric vehicle from the Norway-based Miljo Grenland. Mr Ravi Kant, Vice-Chairman, was quoted saying that the company would start retailing electric vehicles in the UK and Scandinavian nations. He also said that Indica Vista is likely to be launched in UK this September-October. Besides, the company has not yet any plans of introduced the electric Tata Nano. Meanwhile, Tata Motors is also planning to launch an crossover car model, Tata Aria soon in India. Apart from that launch, Indian car lovers will see more launches in India that includes Skoda Yeti, Hyundai Santa Fe, Maruti Kizashi and Mitsubishi Lancer Evolution X.

Wednesday, August 11, 2010

Tata Motors Consolidated Net Revenue grows by 64.2 percent in Q1 FY 2010-11

The Tata Motors Group today reported consolidated revenues (net of excise) of 27,055.57 crores, posting a growth of 64.2% over 16,472.97 crores in the corresponding quarter of the previous year, with strong volume growth globally in all major markets. The Consolidated Profit before Tax (PBT) (post minority interest and profit in respect of Associate companies) for the quarter was 2,275.44 crores, compared to a Loss before Tax of 269.86 crores for the corresponding quarter last year. The Consolidated Profit after Tax (PAT) for the quarter was Rs 1,988.73 crores, a significant turnaround from a loss of Rs 328.78 crores in the corresponding quarter last year. Tata Motors has reported a Basic Earnings Per Share (EPS) of 34.80 in Q1 FY2010-11 for its consolidated operations as against a Loss Per Share of 6.40 in Q1 FY2009-10.Tata Motors gross revenue for the quarter ended June 30, 2010, was (quarter ended June 30, 2009: 6,930.43).

Tata Safari

Revenues (net of excise) of Rs 10,416.26 crores, represented a growth of 62.7% over Rs 6,404.02 crores in the corresponding quarter last year. Volume growth, cost efficiencies and better realisations have led to a double digit operating margin of 11.28%, resulting in an Operating Profit (EBITDA) of 1,174.67 crores in the quarter (quarter ended June 30, 2009: Rs 728.00 crores). The PBT for the quarter is Rs 537.65 crores (quarter ended June 30, 2009: Rs 548.04 crores, which included profit of 318.94 crores on sale of investments, which were not liable to tax) The PAT for the quarter is Rs 395.72 crores (quarter ended June 30, 2009:
Rs 513.76 crores). Overall economic growth, robust IIP and availability of liquidity led to robust domestic demand during the quarter, resulting in volume growth comprising both new products and the existing portfolio. In the domestic market, the company’s commercial vehicles sales increased by 38.7% to 100,186 units.

Tata Manza

The growth was mainly supported by medium and heavy commercial vehicles which grew by 62.4% year-on-year. The company’s market share in commercial vehicles was 61%. Passenger vehicles, including Fiat and Jaguar and Land Rover vehicles distributed in India, grew by 56.0% in the domestic market to 77,858 units driven by continued overwhelming response to the Tata Indigo Manza, the Tata Indica Vista and the Tata Nano. The market share for Tata passenger vehicles for the period stood at 13.3% as compared to 11.2% in Q1 FY2009-10. Driven by the Manza, the company’s market share in the entry-midsize segment has increased substantially to 39.5% compared to 25.2% in Q1 FY2009-10.

Saturday, August 7, 2010

Tata Motors on Mr. R. Gopalakrishnan not seeking re-election

There have been reports that Mr. R. Gopalakrishnan, non-executive director on Tata Motors' Board of Directors, is "stepping down from the Board" due to "personal reasons". Tata Motors clarifies that Mr. Gopalakrishnan is not "stepping down", but not seeking re-election at the forthcoming annual general meeting of the company, when he retires by rotation.

Tata Motors

Mr. Gopalakrishnan is not offering himself for re-election in order to enable the company to recast its Board to accommodate additional executive directors and retaining the requisite ratio of independent directors. At present, the 13-member Tata Motors Board comprises 4 non-executive directors, 7 independent directors and two executive directors.

Thursday, August 5, 2010

Tata Motors opens Nano sales in Kerala

Tata Motors has recently announced that on the auspicious occasion of Onam, residents of Kerala, who are desirous of driving home a Tata Nano but had not booked the car during 2009, will be able to purchase a Tata Nano starting tomorrow. Customers will be able to take a closer look at and test drive the Tata Nano at more than 100 touch points across the state, being especially set up for the festive period. Tata Motors will also expedite dispatch of Tata Nanos for allottee and retainee customers for Kerala for delivery during Onam. Tata Motors is India's largest automobile company, with consolidated revenues of Rs. 92,519 crores ($ 20 billion) in 2009-10.

Tata Nano

Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land Rover, the business comprising the two iconic British brands. It also has an industrial joint venture with Fiat in India. With over 5.9 million Tata vehicles plying in India, Tata Motors is the country’s market leader in commercial vehicles and among the top three in passenger vehicles. Besides, Tata Motors is ready to launch its new crossover car model, Tata Aria in the month of November 2010. Apart from that launch, Indian car lovers will see more launches in India that includes Skoda Yeti, Hyundai Santa Fe, Maruti Kizashi, Mitsubishi Lancer Evolution X and Volvo S60.

Monday, August 2, 2010

Tata Motors increased 41 percent sales in July

Tata Motors’ total sales (including exports) of Tata commercial and passenger vehicles in July 2010 were 67,799 vehicles, registering a growth of 41 percent over 48,054 vehicles sold in July 2009. The company’s domestic sales of Tata commercial and passenger vehicles for July 2010 were 63,558 nos., a 39 percent growth over 45,599 nos. sold in July last year. Cumulative sales (including exports) for the company for the fiscal are 249,507 nos., a growth of 46 percent over 171,168 nos. sold last year. The company’s sales of commercial vehicles in July 2010 in the domestic market were 35,694 nos., a 26 percent growth compared to 28,408 vehicles sold in July last year. LCV sales were 20,438 nos., a growth of 15 percent over July last year. M&HCV sales stood at 15,256 nos., a growth of 43 percent over July last year.

Tata Safari

Cumulative sales of commercial vehicles in the domestic market for the fiscal are 132,923 nos., a growth of 32 percent over last year. Cumulative LCV sales are 75,511 nos., a growth of 20 percent over last year, while M and HCV sales stood at 57,412 nos., a growth of 54 percent over last year. The passenger vehicles business reported a total sale and distribution offtake of 30,165 nos. (27,864 Tata 2,301 Fiat) in the domestic market in July 2010, a 52 percent increase compared to 19,881 nos. (17,191 Tata 2,690 Fiat) in July last year. Sales of Tata passenger vehicles at 27,864 nos. is the highest ever for the company and accounts for a growth of 62 percent over July 2009. Sales of the Tata Nano were 9000 nos. The Indica range sales were 8,606 nos., higher by 1 percent over July last year. The Indigo range recorded sales of 7,007 nos., a growth of 100 percent over July last year. The Sumo/Safari range accounted for sales of 3,251 nos., higher by 22 percent over July last year.

Tata Sumo Grande

Jaguar Land Rover sales continued their upward trend since launch in July 2009. Cumulative sales and distribution offtake of passenger vehicles in the domestic market for the fiscal are 108,501 nos. (100,100 Tata 8,401 Fiat), against 70,572 nos. (63,028 Tata 7,544 Fiat) last year, a growth of 54 percent. Cumulative sales of Tata passenger vehicles were 100,100 nos., a 59 percent increase compared to 63,028 nos., in July 2009. Cumulative sales of the Nano are 23,779 nos. Cumulative sales of the Indica range are 35,113 nos., lower by 6percent. Cumulative sales of the Indigo family are 28,310 nos., higher by 128 percent. Cumulative sales of the Sumo/Safari range are 12,898 nos., higher by 20 percent. The company's sales from exports at 4,241 vehicles in July 2010 registered a growth of 73 percent compared to 2,455 vehicles in July last year. The cumulative sales from exports for the fiscal at 16,484 nos. are higher by 115 percent over 7,676 nos. in the same period last year.