Tata Motors is confident of a turnaround in the auto industry thanks to a new and stable government at the centre. The company is hoping that this government will bring in better policies that will add further impetus to the auto industry, specially considering its importance in economic development of the country.
It was following these predictions, that Cyrus Mistry, Chairman of Tata Motors revealed an expenditure plan for this year and intention to continue to invest for the next three year period. In FY 14, the company spent an amount of INR 3,094 crores on capex, design and development of new products. The company will further investments in India for the next three years.
In international markets as well, Tata Motors announced huge investments. For their Jaguar Land Rover brand, Tata will be spending £3.5 to 3.7 billion (INR 36k crores) on capex. This investment in JLR is not only for new products (like the Jaguar XE and Land Rover Discovery Sport) but also to expand manufacturing footprint to markets such as China and Brazil. Markets in Europe are also showing some improvement while the company expects leading markets of US, China and South East Asia to also continue with their growth trajectory.
Targets for 2014 will include augmenting design philosophy and reinforcing product portfolio. New products in the passenger segment slated for launch this year are the Zest and Bolt while in the commercial vehicle segment, new technologies will be seen on board the Prima and Ultra range.
via Economic Times