Tata Motors Limited (NSE: TATAMOTORS, BSE: 500570, NYSE: TTM), is a multinational corporation headquartered in Mumbai, India. Part of the Tata Group, it was formerly known as TELCO (TATA Engineering and Locomotive Company). Tata Motors has a consolidated revenue of USD 16 billion after the acquisition of British automotive brands Jaguar and Land Rover in 2008.
It is India's largest company in the automobile and commercial vehicle sector with upwards of 70% cumulative Market share in the Domestic Commercial vehicle segment, and a midsized player on the world market with 0.81% market share in 2007 according to OICA data. The OICA ranked it as the 19th largest automaker, based on figures for 2007. and the second largest manufacturer of commercial vehicles in the world. The company is the world’s fourth largest truck manufacturer, and the world’s second largest bus manufacturer. In India, Tata ranks as the leader in every commercial vehicle segment, and is in the top 3 makers of passenger cars. Tata Motors is also the designer and manufacturer of the iconic Tata Nano, which at INR 100,000 or approximately USD 2300, is the cheapest car in the world.
Established in 1945, when the company began manufacturing locomotives, the company manufactured its first commercial vehicle in 1954 in a collaboration with Daimler-Benz AG, which ended in 1969. Tata Motors is a dual-listed company traded on both the Bombay Stock Exchange(where it is a component of the Sensex index), as well as on the New York Stock Exchange. Tata Motors in 2005, was ranked among the top 10 corporations in India with an annual revenue exceeding INR 320 billion.
In 2004, Tata Motors bought Daewoo's truck manufacturing unit, now known as Tata Daewoo Commercial Vehicle, in South Korea. It also acquired Hispano Carrocera SA, now a fully-owned subsidiary. In March 2008, it acquired the Jaguar Land Rover (JLR) business from the Ford Motor Company, which also includes the Daimler and Lanchester brands. and the purchase was completed on 2 June 2008.
Tata Motors has auto manufacturing and assembly plants in Jamshedpur, Pantnagar, Lucknow, Ahmedabad and Pune in India, as well as in Argentina, South Africa and Thailand.
History
Tata Motors is a part of the Tata Group manages its share-holding through Tata Sons. The company was established in 1945 as a locomotive manufacturing unit and later expanded its operations to commercial vehicle sector in 1954 after forming a joint venture with Daimler-Benz AG of Germany. Despite the success of its commercial vehicles, Tata realized his company had to diversify and he began to look at other products. Based on consumer demand, he decided that building a small car would be the most practical new venture. So in 1998 it launched Tata Indica, India's first fully indigenous passenger car.Designed to be inexpensive and simple to build and maintain, the Indica became an instant hit in the Indian market. It was also exported to Europe namely the UK and Italy. Since then it has never looked back. In 2004 it acquired Tata Daewoo Commercial Vehicle and in late 2005 it acquired 21% Aragonese Hispano Carrocera giving it controlling rights of the company. It has formed a Joint Venture with Marcopolo of Brazil and introduced low-floor buses in the Indian Market. Recently it had acquired British Jaguar Land Rover (JLR) business, which also includes Daimler and Lanchester brand names.
Expansion
After years of dominating the commercial vehicle market in India, Tata Motors entered the passenger vehicle market in 1991 by launching the Tata Sierra, a multi utility vehicle. After the launch of three more vehicles, Tata Estate (1992, a stationwagon design based on the earlier 'TataMobile' (1989), a light commercial vehicle), Tata Sumo (LCV, 1994) and Tata Safari (1998, India's first sports utility vehicle). Tata launched the Indica in 1998, the first fully indigenous passenger car of India. Though the car was initially panned by auto-analysts, the car's excellent fuel economy, powerful engine and aggressive marketing strategy made it one of the best selling cars in the history of the Indian automobile industry. A newer version of the car, named Indica V2, was a major improvement over the previous version and quickly became a mass-favourite. A badge engineered version of the car was sold in the United Kingdom as the Rover CityRover. Tata Motors also successfully exported large quantities of the car to South Africa.The success of Indica in many ways marked the rise of Tata Motors.
Tata brands
Tata Daewoo Commercial Vehicle
Main article: Tata Daewoo Commercial VehicleWith the success of Tata Indica, Tata Motors aimed to increase its presence worldwide. In 2004, it acquired the Daewoo Commercial Vehicle Company of South Korea. The reasons behind the acquisition were:
- Company's global plans to reduce domestic exposure. The domestic commercial vehicle market is highly cyclical in nature and prone to fluctuations in the domestic economy. Tata Motors has a high domestic exposure of ~94% in the MHCV segment and ~84% in the light commercial vehicle (LCV) segment. Since the domestic commercial vehicle sales of the company are at the mercy of the structural economic factors, it is increasingly looking at the international markets. The company plans to diversify into various markets across the world in both MHCV as well as LCV segments.
- To expand the product portfolio Tata Motors recently introduced the 25MT GVW Tata Novus from Daewoo’s (South Korea) (TDCV) platform. Tata plans to leverage on the strong presence of TDCV in the heavy-tonnage range and introduce products in India at an appropriate time. This was mainly to cater to the international market and also to cater to the domestic market where a major improvement in the Road infrastructure was done through the National Highway Development Project.
Tata remains India's largest heavy commercial vehicle manufacturer and Tata Daewoo is the 2nd largest heavy commercial vehicle manufacturer in South Korea. Tata Motors has jointly worked with Tata Daewoo to develop trucks such as Novus and World Truck and buses namely, GloBus and StarBus.
Hispano Carrocera
Main article: Hispano CarroceraIn 2005, sensing an opportunity in the fully-built bus segment, Tata Motors acquired a 21% controlling stake in Hispano Carrocera SA, the leading European bus and coach cabin maker. In 2009, the company picked up the remaining 79% stake in Hispano Carrocera SA for an undisclosed sum, making it a fully-owned subsidiary.
Jaguar Cars and Land Rover
Main articles: Jaguar Cars and Land RoverAfter the acquisition of British Jaguar Land Rover (JLR) business, which also includes the Daimler and Lanchester brand names, Tata Motors became a major player in the international automobile market. On 27 March 2008, Tata Motors reached an agreement with Ford to purchase their Jaguar and Land Rover operations for US$2 billion. The sale was completed on 2 June 2008. Tata has gained the rights to the Daimler, Lanchester, and Rover Company.
In addition to the brands, Tata Motors has also gained access to two design centers and two plants in UK. The key acquisition would be of the intellectual property rights related to the technologies.
Joint ventures
Tata Motors has formed a 51:49 joint venture in bus body building with Marcopolo of Brazil. This joint venture is to manufacture and assemble fully-built buses and coaches targeted at developing mass rapid transportation systems. The joint venture will absorb technology and expertise in chassis and aggregates from Tata Motors, and Marcopolo will provide know-how in processes and systems for bodybuilding and bus body design. Tata and Marcopolo have launched a low-floor city bus which is widely used by Delhi, Mumbai and Bangalore Transport Corporations.
Tata Motors also formed a joint venture with Fiat and gained access to Fiat’s diesel engine technology. Tata Motors sells Fiat cars in India and is looking to extend its relationship with Fiat and Iveco to other segments. Fiat's first body-on frame pickup will have the same styling as Tata Xenon and is to be named Fiat Terra. Tata has also formed several JV's with many small companies in various countries around the world.
Important developments
Tata Nano
Main article: Tata NanoIn January 2008, Tata Motors launched Tata Nano, the least expensive production car in the world at about Rs. 1,00,000 (US $2,500). The supermini car was unveiled during the Auto Expo 2008 exhibition in Pragati Maidan, New Delhi.
Tata has faced controversy over developing the Nano as some environmentalists are concerned that the launch of such a low-priced car could lead to mass motorization in India with adverse effects on pollution and global warming. Tata has set up a factory in Sanand, Gujarat and the first Nanos are to roll out summer 2009.
Tata Nano Europa has been developed for sale in developed economies and is to hit markets in 2010 while the normal Nano should hit markets in South Africa, Kenya and countries in Asia and Africa by
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