Tata Motors

Tata Motors held it 65th Annual General Meeting in Mumbai on 1^st September 2010. The Chairman Mr. Ratan Tata addressed the meet.

Highlights of the meet

• In FY10, the commercial vehicle industry grew by 40% compared to the decline of 17% in FY'09. The passenger vehicle industry, which had showed a decline of 0.5% in the previous year, grew by 25% in FY'10.

• The company sees continued strong industry growth and market share gains.

• The automotive demand in Asia remains strong and the market in Europe, United Kingdom and the United States has improved.

• With increase in the Government spending on infrastructure and increase in the industrial production, the commercial vehicle industry is expected to do well in FY'11 as commercial vehicle industry continues to be highly dependent on the developments in infrastructure and manufacturing activity in the country

• The company is considering widening the product range of Jaguar cars by introducing a station wagon, a new entry-level Jaguar, and a new roadster.

• Tata Motors is planning to come out with different variations of its Nano targeting various geographies.

• With recovery in the global markets, the company expects an increase in the commodity prices, in turn exerting cost pressures

• Change in Emission norms from Oct'10 will encourage pre-buying of vehicles

• Increases in interest rate could impact liquidity and availability of financing

• The company feels exchange rates could impact profitability of Jaguar Land Rover

• China has emerged as the third-largest global market for Land Rover/Range Rover and the company is planning to increase market penetration in China, India and other developing markets.

• Tata motors plan to invest around Rs 3000 crore every year for next three years on product development, expansion and research and development activities.