Saturday, November 13, 2010
Jaguar and Land Rover sales drive Tata's profits
Tata Motors has seen its profits soar as demand for its Jaguar and Land Rover brands improved.
India's biggest vehicle maker made 22.2bn rupees ($505m; £310m) in the three months to the end of September - an almost 100-fold increase on a year earlier.
Sales in India climbed by 35% in the quarter, but it experienced even bigger growth in China and Russia.
The firm also produces the world's cheapest small car, the Tata Nano.
Accelerating growth
It has been reported that 70,000 Nanos have been sold since its launch in March 2009.
"We have to break new ground in how we market it and how we make financing accessible," chief executive Carl-Peter Forster said.
Last month Tata reversed a decision to close one of its manufacturing plants in the UK because of the pick-up in sales.
It is also planning to hire new workers in Britain to deal with the surge in demand for cars from its Jaguar Land Rover division.
DATED: 13.11.10
FEED: GG