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Dear Shareholders,
Global sales of passenger cars and commercial vehicles
grew by 3.6% and 5.8% respectively during the year. In
the United States, where there are clear signs of growth,
sales increased by 9.8% for cars and 14% for commercial
vehicles, whereas inWestern Europe and the U.K., where
there has been only marginal growth, sales declined for
cars but increased for commercial vehicles. In Asia, the
main drivers of growth have been China and India,
which have collectively registered growth, albeit at
lower levels than the previous year.
In the U.S., the ‘big three’ automobile manufacturers
registered volume growth and profits during the year.
Ford, which declined a government bail-out package,
did an outstanding job of increasing sales and
establishing profitable operations through the
introduction of smaller, fuel-efficient vehicles which
appealed to the consumers. Chrysler, (under Fiat
management), which did avail of the government bail-
out package, had a remarkable turnaround with new
products, restructuring and tremendous employee
motivation. General Motors, which was perhaps in the
worst position in the earlier period, was, with the help of
the government bail-out package, also able to establish
a profitable level of production in the year, with the
introduction of smaller, more fuel-efficient cars.
In Europe, where sales have beenmore or less stagnant,
the competition has been fierce. Volkswagen and their
affiliates have continued to be, by far, the largest
automobile company in Europe for passenger cars.
“Tata Motors will strive to retain its
market prominence domestically and
internationally and will continue to be a
responsible corporate citizen wherever it
operates and do the right thing for all its
stakeholders and the communities which
it serves.”
Ratan N Tata
CHAIRMAN’S STATEMENT
8
Sixty - Seventh
Annual Repor t 11-12