Tata Motors' Journey To The Top: How Did Tata Motors Become India's Biggest Automobile Company?
Tata Motors has built a strong range of vehicles over the years, including cars, buses, trucks, and military vehicles. They entered the automotive industry in 1954 and have since become one of the world's leading manufacturers. As India¡¯s biggest automotive company, Tata Motors operates in several countries such as the UK, South Korea, Indonesia, and Thailand, striving to introduce innovative products that appeal to younger customers.
The renowned automotive brand made waves in 1986 with the introduction of the Tata 407 Light Commercial Vehicle (LCV). Its reliability and performance made it popular not only in India but also in many other countries worldwide. Let¡¯s take a look at some key milestones achieved by the company:
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- In 1988, Tata Motors ventured into the passenger vehicle market.
- In 1991, Tata Motors launched Tata Sierra and formed a Joint Venture with Nitol Motors, establishing the first assembly unit outside India.
- In 1992, Tata introduced Tata Estate, a station wagon based on the earlier Tata Mobile design.
- In 1993, Tata Motors collaborated with Cummins Engine Inc. to introduce powerful diesel engines with lower emissions.
- In 1994, Tata launched the Tata Sumo, a 5-door SUV that gained popularity in the market.
- In 1998, Tata introduced the ¡®Indica¡¯, India¡¯s first fully indigenous passenger car, and also launched the Tata Safari.
- In 2004, Tata Motors was listed on the New York Stock Exchange and acquired Daewoo, a South Korean truck manufacturing company.
- In 2006, Tata Motors partnered with Brazil-based Marcopolo S.A. to launch the Tata Marcopolo Bus.
- In 2008, Tata Motors Thailand was established, and Tata launched the Tata Nano, the world¡¯s cheapest car, and acquired Jaguar Land Rover.
- In 2009, Tata acquired the Spanish bus manufacturer Hispano Carrocera and introduced the Starbus and Globus range of buses.
- In 2011, Tata Motors Indonesia was established as a fully owned subsidiary.
- In 2012, Tata launched Tata Prima, its next-generation platform of heavy trucks, and announced a collaboration with DRDO for the development of Futuristic Infantry Combat Vehicles.
- In 2014, Tata introduced the Tata Ultra platform for light trucks and buses and launched the ¡®T1 Prima Truck Racing Championship¡¯, India¡¯s first truck racing championship.
- In 2015, Tata launched the SkillPro programme for youth skill development and appointed Lionel Messi as its global brand ambassador.
- In 2016, Bollywood actor Akshay Kumar became Tata¡¯s brand ambassador for commercial vehicles.
- In 2017, Tata Motors signed a memorandum of understanding with Volkswagen for vehicle development in India.
- In 2018, Tata Motors sold its aerospace and defence business and became the first automaker to surpass 1 million sales. They also secured the 16th position in the world's largest light vehicle companies.
Tata Motors has expanded its presence beyond commercial vehicles and achieved significant growth in the light vehicle sector. Today, it is the third fastest-growing brand among the top 20 automotive companies globally, with a brand value higher than Airtel and Infosys. Their vehicles are sold not only in India but also in many other countries across Africa, APAC, and Latin America, while Jaguar and Land Rover vehicles are available in Europe.
India's third-largest carmaker
According to Forbes India, on February 13, a day before Valentine¡¯s Day, Tata Motors sprung a surprise, a bombshell of sorts. For the first time ever, an Indian automaker had reduced prices of its electric cars in the country, something akin a strategy followed by Tesla in the US, as battery prices see a significant drop. The price of the company¡¯s wildly popular Nexon had been slashed by Rs 1.2 lakh, with another model, the Tiago, receiving a Rs 70,000 discount. Tata Motors is India¡¯s largest electric vehicle (EV) maker, cornering nearly 80 percent of the market.
Tata Motors Q4 Results
Tata Motors announced its January-March quarter results for fiscal 2023-24 (Q4FY24), reporting a surge of 222 per cent to ?17,407.2 crore, compared to ?5,400 crore in the corresponding period last year. India's most valuable carmakerTata Motors Ltd.'s board has recommended a final dividend of Rs 6 per ordinary share for financial year 2024, subject to the approval of the shareholders at its ensuing annual general meeting, according to an exchange filing on Friday. The final dividend includes Rs 3 normal dividend and Rs 3 special dividend.
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