Tata Motors has seen strong upgrades in volume, top line and profit estimates, after reporting an unexpectedly superlative quarterly global volume performance for Jaguar Land Rover (JLR). It was led by strong demand for the Evoque SUV from the Land Rover stable.
In Tata Motors' Annual Report for 2011-12, Tata said Jaguar Land Rover was developing higher-powered and more fuel-efficient engines to attract more customers.
Tata Motors shares fall 2%; m-cap erodes by Rs 5,521 cr.
Range Rover Evoque, being a high-segment SUV, is loaded with exciting and brilliant features, which makes this car an exquisite model.
The new JV entity will also manufacture engines and set up a research and development centre in China.
Tata Motors-owned Jaguar Land Rover plans to set up an engine manufacturing facility in India in order to meet the demand in the country.
Sales of commercial vehicles declined 24.51 per cent in June to 31,384 units from 41,577 units a year ago.
The new car market is estimated at around 30,000 units a year in sales in a good year, whereas the used car market for luxury vehicles is estimated at around 60,000 cars annually.
To be set up at Staffordshire, near Wolverhampton, the facility will manufacture a family of low emission 4-cylinderJLR petrol and diesel engines.
Sales of luxury brands from Jaguar Land Rover were at 30,094 units during May, up 35 per cent from the same month last year, Tata Motors said in a statement.
Prince Philip's decision to surrender his licence comes weeks after he caused a car crash near the Sandringham estate in Norfolk, in which his Land Rover Freelander landed on its side after a collision with a Kia.
'Favourable product mix, sales recovery, and cost saving initiatives are expected to support margins going ahead while focus on debt reduction (target of debt free by FY24) will aid balance sheet strength'
"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.
The company plans to induct 400 people during this year in UK alone and has already started the process to recruit 280 graduates in different verticals.
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.
Sales of luxury brands from Jaguar Land Rover were at 20,358 units during June, up one per cent from the same month last year.
JLR is looking to increase sales point in India to 20 by the end of the fiscal from the current four.
Cars like the Land Rover Evoque, endorsed by Victoria Beckham, have more women customers than men.
The country's largest auto company reported a total sales of 75,775 units across its various international operations, which include Tata Motors, Tata Daewoo and the Hispano Carrocera range of commercial vehicles, Tata passenger vehicles and the British marquee brands Jaguar Land Rover.
The new model from the British marquee brand Land Rover will be available in both petrol and diesel engine options.
The Tata Motors-owned Jaguar Land Rover (JLR) has signed a fresh deal with China to sell 40,000 cars in 2011.The deal, said to be worth more than 1 billion, comes on the back of an order the company had bagged in 2009 for 13,000 cars valued at that time at 850 million.
The package consists of a three-year committed facility to finance Land Rover's parts and accessories' inventories and receivables in the UK and the US. This is an important element of JLR's working capital financing to cover the key Land Rover parts and accessories' inventories and receivables part of our business, which has a high cash requirement, to function properly.
The new model will be available in three engine options of 2-litre petrol, 2-litre diesel and 3-litre diesel
Tata group-owned Jaguar Land Rover (JLR) has secured a 170 million pounds (about $ 284 million) loan from GE Capital in a move to strengthen its financial position, media report says.
Come Sunday, India's automobile industry will achieve a unique distinction of showcasing both the world's cheapest car Nano and two of the costliest brands -- Jaguar and Land Rover -- from the Tata Group.
Sporting a price tag of Rs 39.5 lakh, Jaguar XE is the most affordable Jaguar in the Indian market. Photographs: Rajesh Karkera and Hitesh Harisinghani/Rediff.com at the Auto Expo.
The fate of Indian conglomerate Tata group-owned Jaguar Land Rover is uncertain as talks with the UK government over a financial support package has virtually failed, media reports say.
However, notable absentees from the expo will be Honda, Toyota, Ford, BMW, Audi, Lexus, Volvo and Jaguar Land Rover along with two-wheeler majors Hero MotoCorp, Bajaj Auto and TVS Motor Co.
Tata Motors on Monday said its global sales increased by 36 per cent in July to 90,646 units on robust demand for both commercial and passenger vehicles.
Tata Motors' luxury automotive brand, Jaguar, bagged a three-year order to supply 13,000 units of its range to a Chinese company earlier this year. Its Land Rover, jointly with Jaguar, is charting new territories for expansion.
Tata Motors will see 'strong operational recovery of its domestic business, which we believe should be the prime driver of stock valuations', Merrill Lynch said in a research report, adding that 'Jaguar Land Rover is likely to recover next year'.
If the UK government's help does not come soon, Indian owner Tata Motors will have to cut down its investment plans for Jaguar Land Rover with possible job losses and plant closures, a media report said.
Tata Motors, which owns Jaguar and Land Rover, is in talks with the UK government on assistance for the luxury units as sales have plummeted.
Tony Woodley, joint general secretary of Unite, said that there was little reason for the British government not to act now that Tata Motors had injected more cash. 'I would now be extremely surprised if the government did not give financial support to the company as well and I would be very surprised if it wasn't this side of Christmas. I would be disappointed if there was not confirmation of the availability of a loan or credit guarantees at least,' he said.
Jaguar and Land Rover, the UK based carmakers, are to set up dealership networks in India soon as they seek to use ties with Tata Motors, their new owner, to find new markets.
Tata Motors is looking at various measures, including direct buying from stockists and making changes in the product configurations, to offset the impact of semiconductor shortage on its production activities and sales, a top company official has said. The auto major, which sells models including Nexon, Harrier and Safari in the domestic market, is also looking at different kinds of chips which could be used in components where the supply situation is severe. The automaker expects the situation to remain challenging in the ongoing quarter and some improvement in supplies only in the second half of the fiscal.
Tata Motors has sold one Jaguar and Land Rover model a day since it launched the marque brands in India just under a month ago -- on June 28. But that's enough to satisfy the company and has, in fact, come as a surprise to many market experts.
Expressing satisfaction at Indian conglomerate Tatas' move to pump in money into Jaguar Land Rover, the head of the UK's biggest union Unite, Tony Woodley, has said he expects the Gordon Brown government to offer financial aid to the luxury car maker.
With no signs of financial aid coming from the UK government, Indian conglomerate Tatas have agreed to inject "tens of millions of pounds" into its British car company Jaguar Land Rover, says a media report.
The UK government today approved a grant of pound 27 million to Tata Group-owned Jaguar Land Rover
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