Statutory Reports
Corporate Overview
69th Annual Report 2013-14
56
Financial Statements
Passenger Vehicles
The domestic passenger car industry was affected mainly by
weak sentiments, high cost of ownership, high interest rates, fuel
prices and reduction in discretionary spends. Overall growth in
the domestic passenger vehicle industry was negative by 4.7% in
FY 2013-14. During the year, the Company’s Passenger Vehicles sales
were lower by 38.1% at 141,846 vehicles, registering a 5.8% market
share. However, the premium and luxury segment of the Company
grew by 73.3% compared to last year. The Company sold 1,09,279
cars and 32,567 utility vehicles and vans, lower by 39.5% and 33.3%
respectively, over the previous year. The Company’s sales in the
mid-size segment suffered as competitive activity intensified with
multiple new launches in this segment. The Company has taken
various initiatives to improve its performances such as product
refreshes/launch programmes, operational efficiency, dealer
effectiveness, working capital management and restructuring
customer facing functions. The Company sold 2,805 vehicles of
Jaguar Land Rover brands during FY 2013-14, a growth of 12.5%.
This performance was driven by
Jaguar XF
sales that grew by 119%
in FY 2013-14. The estimated market share increased from 9% to
10% in FY 2013-14. The JLR dealer network in India grew from 18
to 21 outlets by addition of 3 3S facilities, besides setting up 2 2S
Workshops, and 11
Used Car Outlets.
Some of the highlights of this year’s performance were:
Unveiled the
Horizonext
Strategy in the Delhi Expo.
Announced the launch of the all new
Bolt Hatchback
and
Zest Sedan
in the second half of the next fiscal.
Launched the refreshed
Sumo Gold
with improved clutch and
performance and new enhanced versions of
Tata Indigo e-CS
,
Tata Nano
and
Tata Indica .
Launched the
Nano Twist
with power steering.
Launched the
E-max range
of CNG and petrol bi-fuel systems.
- Tata Indica CNG, Tata Indigo CNG and Tata Nano CNG.
Launched new
Safari Storme Explorer
edition.
Showcased the
Nexon
compact UV and
Connected car
concept
at the Delhi Expo.
The above launches of the Nano Twist, , E-max, Sumo Gold
refresh and unveiling of the Bolt, Zest and Connected Car
concept were in-line with the Company’s objective of taking
the brand to a higher level, while making it relevant for the
younger buyer. The Company continued to focus on building
brand strengths, refreshing products and enhancing sales and
service experience. The Company expanded it’s new look,
stylish, tech savvy best in class flagship Passenger Vehicle
showrooms, for superior customer experience.
More than 10 major Jaguar and Land Rover product actions
in India including major launches of
Jaguar F-TYPE
and
the
all-new Range Rover Sport. Land Rover Experience
(Dynamic Drive Off-road Experiences), launch of 1st ever
Land
Rover Expedition
and
after-sales
customer engagement
initiatives were carried out by setting up
Service Clinics
in
various cities.
Exports
For Tata Motors, traditionally strong markets in South Asia such
as Bangladesh and Sri Lanka were affected by internal conflict,
political unrest and regulatory changes, especially in first half of
FY 2013-14. While sales partially rebounded in second half of
FY 2013-14 in Bangladesh and Nepal as a net result, export sales of the
Company de-grew by 2% to 49,922 vehicles comprising 43,083 units
of CVs and 6,839 units of PVs. With a view to expand its International
Business, the Company has entered new markets like Australia and
Indonesia and has also prepared to enter Malaysia and Philippines in
early FY 2014-15. The Company introduced a host of new products on
existing and new platforms in existing and newmarkets and showcased
its vehicles in major auto shows in strategically important markets.
The Company continued to outperform competition in terms of
exports of Commercial Vehicles and enjoyed a total CV exports
share of 57% in FY 2013-14. Shipments for M & HCV Trucks grew
by 34% in FY 2013-14 contributing significantly to the top line
and the bottom line of the company. The shipments of SAARC
countries and RHD African countries including South Africa,
Kenya, Tanzania, Mozambique and Zambia grew by 6% and
12% respectively. The opening of new markets in Australia and
Indonesia made up for some of the shortfall in the Middle East
and LHD Africa countries.
The Company exported 6,839 Passenger Vehicles. Indica grew
(+29%), Indigo grew (+70%) led by Bangladesh,
Safari Storme
had a strong debut with 115% growth and
Sumo
showed steady
performance (+2.2%) and was the best-selling vehicle name-plate in
Nepal. Tata Passenger vehicles debuted in Philippines and Brunei and
also witnessed regular orders from Indonesia.
