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Tata (including Jaguar Land Rover)

Tata is an Indian OEM selling cars and light commercial vehicles under the Tata, Jaguar and Land Rover brands. This page contains research on Tata's activities and strategy.

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Financial Information and Company Presentations

Tata Motors Investor Library

Automotive research, Automotive strategy, Automotive trends, Auto industry trends, Automotive market research, Auto industry news

TATA & JLR IN THE NEWS

This information can also be found on the weekly news review.

2018

April

  • Land Rover is reportedly planning to launch a 4.1m long SUV (Renault Captur territory) but hasn’t decided the market positioning. (Autocar)
  • Detailed the employee cuts and transfers that were reported last week: 1,000 agency positions will go at the Solihull plant, partially backfilled by 392 transfers from Castle Bromwich. (Sky News)
  • As rumours circulated of a plan to cut around 1,000 jobs (focused on agency staff), JLR issued a statement calling reviews of production schedules “standard business practice” and said that while it would make some “adjustments” to the level of agency staff, the company stressed the hiring of apprentices and professionals. (JLR)

Q1 2018 Earnings

  • Jaguar Land Rover sold 614,309 cars in the financial year to end March 2018, up 1.7% on the prior year. (JLR)
  • Tata Motor’s Indian market sales in the financial year ended 31st March 2018 totalled 586,639 units, a rise of 23% over the prior year. (Tata)

March

  • Waymo will use Jaguar’s I-Pace as its first all-electric autonomous vehicle, planning for up to 20,000 purchases between 2020 and 2022 -- a fleet that Waymo says could operate 1 million trips per day. (Waymo)
  • Tata Motors CEO said that company would have completely overhauled its product line by 2023-24, with new products based on one of two platforms -- ALFA (3.7 - 4.3m) and OMEGA (>4.3m). (Economic Times of India)
  • Stopped production at the Solihull plant to help the local water utility maintain supply after cold weather burst pipes in the area. (Reuters)
  • Jaguar said it wanted to improve relationships with its UK dealers and change the dialogue from “parent-child” to “adult-adult”. JLR’s UK diesel mix is around 80% and executives said that “consumers need to know that, for many of them, diesel remains the right option”. (Automotive Manager)
  • Said the 2-door, 4 seat, version of the Range Rover will be limited to 999 examples. (Land Rover)
  • Jaguar unveiled the I-Pace with a Top Gear / Grand Tour style video and a drag race with a Tesla Model X (the Jag won but, given the stated 4.8 second 0-60 time, one wonders whether Ludicrous Mode was turned on). (Jaguar)

February

  • Reportedly hired an investment bank to manage the sale of its Tata AutoComp Systems components subsidiary. (Deal Street Asia)
  • Tata intends to double its dealer footprint in India to 1,500 sites by 2020 -- covering around 90% of the market (from 70% today). (Economic Times of India)
  • Confirmed that it had an extended Christmas shutdown at Castle Bromwich plant (which makes almost all Jaguar models) and that further downtime was scheduled in the near future. (Coventry Telegraph)

January

  • Cutting production in Halewood, UK by taking down days in Q2. Although media focus was on the effect of Brexit and diesel sales, ageing of the model line-up and cannibalisation from Velar also appear plausible. (The Guardian)
  • Rumoured that the replacement for the XJ luxury saloon will be all-electric. (Autocar)
  • Invested in US ride-hailing start-up Voyage -- a company that previously said it believed fares could be paid for by advertising. (JLR)

2017

2017 Full Year Earnings

  • Tata Motors announced Q4 2018 financial results, revenue of 74,157 Rs Cr (about $11.1 billion) was up 16.1% year-over-year, mostly thanks to growth from Tata branded vehicles. PBT ws 2,029 Rs Cr (about $300 million). (Tata)
  • JLR reported Q4 2018 financial results (included in the Tata figures above). Revenue of £6.3 billion rose 4.3% year-over-year and the business reported profits of £192 million. (JLR)
  • JLR sales for 2017 totalled 621,109 units, an increase of 7% on 2016; Jaguar sales were up 20%. (JLR)

December

  • Land Rover is reportedly planning to release an all-electric version of the new Defender. (Motoring)
  • Fleet managers looking for £40k commercial vehicles with impaired package, small load space, no sliding doors and leather seats can now order a Land Rover Discovery Commercial. (Auto Express)
  • Executives said the Range Rover Velar was mainly attracting new customers, with around 20% of buyers coming from Evoque. (Autocar)
  • Tata is working with Thai start-up DRVR to provide fleet management services in markets including Thailand and Indonesia. (Autocar)

November

  • Will reportedly supply glider Nanos to Jayem Automotive, who will add an all-electric powertrain and market the vehicle as the Jayem Neo. Tata NEO. The vehicle is said to be powered by a 48V system. (Autocar)
  • JLR announced that it had started testing autonomous vehicles on public roads (with safety drivers). (JLR)
  • Was forced to deny that it had taken a stake in Faraday Future. (Green Car Reports)

October

  • Reportedly planning to follow-up the Jaguar I-Pace with Land Rover’s first BEV, a large SUV, in 2019. (Autocar)

Q3 2017 Earnings

  • Reported Q3 2017 / Q2 fiscal year financial results. Revenue and profits increased on a year-over-year basis but the Tata Motors brand is still lossmaking. (Tata)
  • Reported group wholesales for Q3 2017 of 309,163 units, an increase of 11.7% on a year over year basis. Sales were up across brands with the exception of Jaguar, which fell (2.1)% YoY. (Tata)
  • JLR reported Q3 sales of 149,690 units, an increase of 5.1% on a year-over-year basis. For 2017 YTD, JLR sales are up 7.5%. (JLR)

September

  • Will end its large petrol engine supply arrangement with Ford in September 2020, signalling that the company intends to launch its own replacement for the V6/V8 petrol engines built there before the end of the decade (unless customers are going to buy I4s instead of V8s). (BBC)
  • JLR is reportedly interested in buying a luxury brand -- the move is apparently driven by Tata Motors wishing to add scale. (Bloomberg)
  • In a similar move to Audi’s, JLR is changing the way it denotes the powertrain in the vehicle name. The new strategy sees fuel type, power and driveline (if AWD) being included. As with Audi, the move it likely a precursor to all-electric sales traditional ICE badging makes comparison across models difficult (until you read the brochure). (Auto Express)
  • JLR is reportedly looking at offers from Samsung SDI, LG Chem and Panasonic to supply batteries. The company is apparently requesting quotes for around 2 million 21700-size cylindrical cells each year. (ET News)
  • Tata Sons was reportedly behind an anonymous acquisition of about 1.7% of Tata Motors stock. This week also saw speculation that changes to voting rights for preference shares in Tata Sons could see the power of the Mistry family substantially reduced.. (Economic Times of India)
  • Said I-Pace has reached 25,000 orders in a TV interview. Asked about customer reaction to I-Pace he said it was “just another car with a different propulsion system”. Explaining the concept shared steering wheel displayed last week he said that he was “convinced” customers would want to own cars but that they might want to share them with friends. (Bloomberg)
  • JLR said that from 2020, every new product launched will be electrified. The company says that it will have a portfolio that includes mild hybrid (48V), plug-in and fully electric vehicles. JLR’s wording implied that in some instances, “electrification” could mean no more than a 48V system being offered alongside ICE-only powertrains. (JLR)
  • Showed off its vision of travel in 2040 called the Jaguar Future Type. JLR has joined Daimler and BMW by adopting the Connected, Electric, Autonomous, Shared breakdown of future vehicle attributes. Much of JLR’s presentation was around a new in-car assistant technology called Sayer which will exist in the cloud and can thereore be downloaded into different vehicles. (JLR)
  • JLR’s CEO gave a speech in which he declared that the company was leading the mobility “revolution” but said that the UK government needed to do more to support technological change. Amongst other things he said that the government had “no detailed plans” for the implementation of an ICE ban by 2040. (JLR)
  • Reportedly suffering from industrial relations problems at the Jamshedpur factory. A mistake in employee pay cheques is being used as leverage by unions to demand increased permanent (as opposed to temporary) hiring. (Economic Times of India)

August

  • Tata’s chairman was forced to defend JLR chief Ralf Speth’s pay, saying that his circa £7 million annual remuneration was “not high at all” and “slightly on the low side”. (Economic Times of India)
  • Announced that it had developed a new brand identity for Tata Motors: “Connecting Aspirations”. The company believes mobility services are better covered by the new tagline. (Tata)
  • Tata Motor’s CEO said that the company was still looking for partners on small vehicle platform following the failure of its intended collaboration with VW Group. (Economic Times of India)
  • Tata Motor’s COO said that Nano production, currently at around 1,000 vehicles per month, would not be phased out, citing sentimental reasons. (Economic Times of India)
  • Tata Motors announced a new CFO, P B Balaji joins the company from Hindustan Unilever. (Tata)
  • Announced July sales figures. Tata sold 98,534 units globally, up 12% year-over-year, of which JLR was 51,245 vehicles. (Tata)
  • Announced that, following in-depth discussions with Škoda, it would not create a partnership in small vehicles because “the envisioned areas of partnership may not yield the desired synergies are originally assessed”. Tata said that the two parties would “keep in touch”. (Tata)

July

  • Announced the opening of JLR’s first non-UK engine plant in China, part of a JV with Chery. This is not quite as historic as it might seem as JLR have only been manufacturing their own engines for a couple of years (pre-Ford days notwithstanding). The press release was careful to mention the “exactly 28 robots” working in the plant. (More…)
  • Said that it would build the E-Pace in two factories -- neither of which are JLR owned. For international markets, Magna will produce the E-Pace in Graz, Austria. For China only, Chery will make the vehicle at its Changshu factory. (More…)
  • Reported Tata Motors Group sales, including JLR, of 90,966 units in June 2017, a drop of (2)% on a year-over-year basis, mainly due to declines in commercial vehicle sales. (More…)
  • Managing Director of Tata’s truck making business said that performance of the CV business was “worrisome” and that the company’s focus must change from “transformation journey to a turnaround” in a memo to employees. (More…)

Q2 2017 Earnings

  • JLR reported financial results for Q2 2017 (the first quarter in its financial year). Revenue of £5.6 billion was up 5% on a year-over-year basis but pre-tax profit of £595 million was well down on £399 million in the prior year once the effect of a £437 million on-time item related to pensions accounting was removed. (JLR)
  • Reported June sales figures for Jaguar Land Rover. Sales of 51,591 vehicles were up 11% on a year-over-year basis. For April to June 2017, sales of 137,463 units was an increase of 3.5% but within this figure Land Rover sales were down (4.7)% -- attributed by JLR to weakness in emerging markets other than China. (..)

June

  • Said that Jaguar will launch a new SUV called the E-Pace, smaller in size than the F-Pace model. Although the name might lead one to believe that the vehicle is electric, it will be powered by petrol and diesel engines. (More…)
  • JLR said that it had made a $25 million investment in Lyft via its InMotion subsidiary. The investment includes a technology collaboration and the supply of some JLR vehicles to Lyft. Although only announced now, the investment is part of a fund raising round that closed in April. Whilst JLR touted a multitude of benefits, Lyft said only that it was “excited to join forces”. (More…)
  • JLR will reportedly announce plans to hire 5,000 engineers and technical staff with a focus on electronic and software engineers. JLR made no comment but it is rumoured that an official statement could be made this week. (More…)
  • Some of the shareholdings within the Tata group are being re-organised. Tata Motors is selling a significant minority stake in Tata technologies to Warburg Pincus (More…) whilst Tata Steel is selling its 2.9% stake in Tata Motors to Tata Sons. (More…)
  • JLR reported May sales of 45,487 units, up 1.2% year-over-year. (..)
  • Tata announced that it had concluded negotiations on its long term wage settlement with unions in Sanand, India. The agreement is retroactive and runs from October 2015 to September 2020. The agreement reportedly includes a wage increase spread equally across years and a new performance bonus. (..)

May

  • Reported May sales (excluding JLR). Total sales of 38,361 units was 4% down year-over-year, about half of this drop coming in the Indian market. Passenger cars were up by 27% YoY in India, partially offsetting the 40% YoY fall in commercial vehicle sales. Tata said that supply of some commercial vehicles had been constrained and that May 2016 had been “very strong”. (..)
  • Announced that it will train up to 40,000 people as part of its “Skill India Mission” contribution. Tata will not hire all the trainees itself. Its annual requirement is around 300-400 new hires. (..)
  • Announced a product investment plan with the aim of boosting global market share -- especially in CVs. (More…)
  • The European Commission announced that it will look at whether state aid rules were breached in agreeing a €125 million support package for JLR’s Slovakia plant. JLR denies that there is any violation of the rules. (..)
  • Said that global wholesales fell in April. Total sales of 73,691 units were 9% down year-over-year. JLR sales fell slightly to 41,923 units, down about 2% YoY. The main reason for the group’s drop was commercial vehicles and the Tata Daewoo range where sales fell 36% YoY. (..)

April

  • JLR CEO Ralph Speth gave an interview where he defended modern diesel engines. (..)
  • Fitch upgraded the credit rating of Tata Motors to BB+ with a stable outlook. (..)
  • Announced that production had begun of its new 2.0l petrol engine in its Wolverhampton engine plant. (..)
  • Said that it will reduce its portfolio in the next 3-4 years by removing nameplates and having only two platforms instead of six. This will reportedly include axing the Nano. (Source)

Q1 2017 Earnings

  • Reported Q1 2017 financial results for the total Tata Automotive business. Revenue was down year-over-year, due to lower sales of Tata branded vehicles and weaker GBP impact on JLR sales (even though JLR’s GBP revenues were up). Profit was also down, reflecting higher sales but also higher costs at JLR (along with weaker sterling) and lower sales of Tata commercial vehicles, partially offset by passenger car growth. (..)
  • JLR reported full year results (its financial year runs to the end of March). Wholesales of 604,009 units were a new record, up 16% year-over-year. Full year revenue of £24.3 billion was up 9% YoY, pre-tax profits of £1.6 billion were up 3% YoY. (..)
  • JLR reported record sales of 604,009 vehicles in the full year, including sales for March up 21% year over year (Source)

March

  • Tata said that the Indian Supreme Court ruling banning the sale of higher emitting vehicles will have a material impact on the entire automotive industry as it believes it will be difficult liquidate all inventory before the ban comes into effect on 1st April.