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TATA Motors, India’s largest auto company, recently announced its report for the fiscal year 2006 (as of March 31, 2007), with a 25% increase in net profit. Due to the rapid growth of the Indian market and the gradual expansion of overseas markets, Tata’s commercial vehicles are hot. Sales, the company's performance is red. Its growth rate is comparable to that of SAIC, FAW, and Dongfeng, China's three largest auto giants that developed rapidly in 2006.
In fiscal year 2006, Tata Motors’ net profit rose by 25% to Rs 19.13 billion (US$470 million), accounting for approximately 88% of the group’s total net profit of Rs. 21.7 billion, and total revenue increased by 33% to Rs 273.55 billion (US$ 6.76 billion). ), contributed about 85% of the group's total revenue. The annual sales volume reached a record high, increasing by 27.8% to 580,000 vehicles, of which the commercial vehicles in the Indian market contributed 298,000 units, an increase of 22% year-on-year, and domestic passenger vehicle sales contributed 228,000 units, a year-on-year increase of 21%.
In the fourth fiscal quarter of the fiscal year, Tata Motors’ total revenue increased by 24% and net profit was Rs 6,481,100 (US$160 million), an increase of 24% year-on-year. Sales in the fourth quarter increased by 16.2%, and sales of commercial vehicles in the domestic market increased by 22% to a total of 87,747 units. Passenger car sales increased by 14% to 70,248 units, and exports dropped by 5% to a total of 14,640 units.
Developing markets outside India
Tata has consolidated its existing market in India and stepped up the launch of ultra-low-cost cars while also accelerating the expansion of overseas markets. Tata Motors will establish a joint venture with Fiat with a total investment of over 600 million euros; Tata plans to increase its export revenue by focusing on six core markets: Spain, Italy, Turkey, South Africa, Nepal and Sri Lanka.
In addition, Tata will manufacture pickup trucks in a joint venture with Fiat in Argentina and promote Tata trucks through Fiat Iveco's distribution channels. While Tata plans to produce pickups and multi-kinetic vehicles in Thailand in the third quarter of this year, it is also seeking the possibility of establishing a factory in Egypt.
According to local Indian media reports, Tata has recently begun preliminary negotiations for the acquisition of American auto parts maker Visteon, and once the acquisition is successful, Tata will have the opportunity to penetrate into the largest market in the United States.
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