JLR volumes could hit million units by 2019, stock trading at discount to other premium automakers
Dismissing adverse comments on Jaguar and Land Rover (JLR) buy, Ratan Tata on Tuesday said the $2.3-billion acquisition of the iconic brands was 'worthwhile' though the subsequent financial crisis posed challenges.
Tata Motors is likely to exit the S&P BSE Sensex and the Nifty50 indices once the demerger process of its commercial vehicle (CV) and passenger vehicle (PV) businesses is complete, analysts at Nuvama Institutional Equities said. They have compared the development with Reliance Industries (RIL) and Jio Financial Services, which got listed separately and eventually (in the next few days) got excluded from the domestic indices.
Despite superior margins, JLR hasn't had a smooth ride in China.
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
A hike in cess on luxury cars will not only hinder Jaguar Land Rover's network expansion but also prevent it from introducing new technologies in India, JLR India managing director Rohit Suri tells Shubham Parashar in an interview.
The Street's optimism on India's largest listed automotive maker by market capitalisation is not misplaced, given the robust wholesale performance in recent months and the strong 2023-24 (FY24) October-December (Q3) results.
The new SUV is rolled out from the company's Pune facility.
'The facility works on Apple's iPhone and everything is damaged -- CNC machines, computers and CCTVs worth crores.'
Tata Motors on Monday announced the demerger of its commercial and passenger vehicle segments into two separate listed entities to better capitalise on growth opportunities. The commercial vehicles business and its related investments would be housed in one entity while the passenger vehicle business, including electric vehicles, Jaguar Land Rover (JLR) and its related investments, would be part of the second entity, the auto major said in a regulatory filing. Tata Motors chairman N Chandrasekaran said that Tata Motors has scripted a strong turnaround in the last few years.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
Jaguar India model range is available at 21 outlets across 19 cities.
'Spectre' will feature the Jaguar C-X75 driving through the moonlit streets of Rome.
The 400,000 square-metres plant was launched within two years of foundation laying ceremony.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Since price is a big stumbling block, the company is looking at assembly of Evoque in India.
Tata-owned Jaguar Land Rover plans to generate 4,500 manufacturing and engineering jobs in London over next five years, JLR executive director Mike Wright has said.
Six days of meetings over two weeks between Tata Motors' Jaguar Land Rover (JLR) and its workers' union ended without agreement on terms of employment for new hires.
Jaguar Land Rover and Saudi Arabia's National Industrial Clusters Development Programme will now begin a detailed feasibility study together, to determine the viability of setting up an automotive facility, the company said in a statement.
China is one of the biggest markets for JLR. The sales reached 53,000 units in the first nine months of the year, up 80 per cent from a year earlier
It claims to be ahead of its competitors in the segment.
The warning late on Wednesday came as a surprise given Tata shares hit a record high earlier this month on a rally sparked by expectations for improving sales at JLR, especially in the key China market, and optimism about the launch of new models.
Rising investment is eating into the luxury carmaker's cash pile.
"Goss, 53, will have overall responsibility for the National Sales Company operations of the Jaguar and Land Rover brands in the United States and Canada," the company said in a statement.
To explore options for capitalising on growth potential in entry-level luxury car segment.
Bullish on Jaguar Land Rover, top industrialist Ratan Tata has hinted at Tatas manufacturing these marquee brands in India, Eastern Europe and the US.
In 2012, JLR sales were up in every major market, driven by new model introductions and update programmes, the company said in a statement issued at the North American International Motor Show in Detroit.
Saudi Arabian mining firm Ma'aden, in a joint venture with Alcoa, is undertaking a $10.8 billion project to set up what has been dubbed as the the world's largest vertically integrated aluminium complex.
JLR, which has announced plans to deliver 40 products over the next five years, said in a statement that the Castle Bromwich plant would this year manufacture the 2013 Model Year XF and XJ ranges.
The saloon's interiors, powerful engine and latest technology will enhance the in-car experience of discerning customers by making it even more productive, entertaining and relaxing.
The new JV entity will also manufacture engines and set up a research and development centre in China.
The company had sold 1,813 cars in 2011, JLR said in a statement.
Tata Motors-owned Jaguar Land Rover on Thursday said its global sales in November increased by 14 per cent to 29,893 units.
The two iconic brands are also developing hybrid engines for use in future models of JLR. Two British marquee had made a loss of over Rs 1,777.35 crore or Rs 17.77 billion (before interest, exceptional items and tax) in 2008-09 due to global meltdown, while the income from JLR sales stood at Rs 39,270.70 crore (Rs 392.7 billion). It had laid off over 2,200 staff.
S&P Global Ratings has upgraded its long-term ratings on Tata Motors to speculative grade 'BB' with stable outlook on earnings improvements and potential deleveraging. The ratings agency had earlier placed Tata Motors in 'BB-'. As per S&P ratings, a BB grade is less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions.
A year after the Tata group took over the two of Britain's most iconic automobile brands, Jaguar and Land Rover, it is faced with newer and bigger challenges than it would have expected when it paid $2.3 billion to Ford for the acquisitions on March 26, 2008.
Supply chain workers called the strike over a pay dispute.
After clocking losses for seven straight quarters, Tata Motors on Wednesday posted a consolidated net profit of Rs 3,043 crore in the third quarter (Q3) of 2022-23. This came on the back of a strong order book, better semiconductor chip supply, tempered commodity prices, and a better product mix. "We remain cautiously optimistic about the demand situation, notwithstanding the global uncertainty.
The UK-based subsidiary of the Tatas is also keeping its options open for using its India assembly plants for manufacturing cars that can be exported to other countries.
Nearly one in two luxury cars sold in India in the first three months of 2024 was a Mercedes Benz, which achieved its best ever quarter (January-March), selling 5,412 units, up 15 per cent year-on-year (Y-o-Y) from 4,697 units in the previous year.
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