57
Notice
Directors’Report
(53-68)
Management Discussion & Analysis
Corporate Governance
Secretarial Audit Report
The Company was awarded the EEPC
‘Star Performer Award’
for outstanding contribution in Engineering Exports in the Motor
Vehicle – Large Enterprise category. Members attention is also drawn
on various export initiatives under
‘Foreign Exchange Earnings
and Outgo’
in the Annexure.
JAGUAR LAND ROVER
Jaguar Land Rover (JLR) had a successful year of continued growth
in all markets with overall volumes up by 16%, reflecting continued
product successes including the launch of the new
Range Rover
Sport
and
Jaguar F-TYPE
and a full year of sales of the new
Range
Rover.
More established models have also been performing well,
in particular derivatives such as the
XF Sportbrake
and all-wheel
drive and smaller engine options across the range. Retail volumes
have grown across all markets, led by China up by 34% from last
year to record retail sales of 103,077; North America and Asia Pacific
regions also performed strongly, up by 20% and 28% to 75,671 and
22,795 respectively; UK and Europe, partly reflecting the economic
headwinds, showed more modest growth, up by 6% and 2% to
76,721 and 82,854 units respectively. Wholesale volumes for FY
2013-14 were 429,861 units, an increase of 16% on FY 2012-13. At
a brand level, wholesale volumes were 79,307 units for Jaguar and
350,554 units for Land Rover, reflecting growth of 37% and 11.6%
respectively. Some of the highlights of this year’s performance were:
Launch of the
all new aluminum Range Rover Sport
in March 2013, with a worldwide roll out in the first half of
FY 2013-14.
Continued growth of the expanded
Jaguar XF range
with all-
wheel drive Version,
new Sportbrake
and smaller and more
fuel efficient engine options for the
XF
and
XJ
, launch of the
new
Jaguar F-TYPE.
The F-TYPE went on sale to retail customers from April 2013
onwards and since then has received numerous awards and
appreciation by the auto media. In November 2013, Jaguar
unveiled the F-TYPE Coupé which went on sale in April
2014. In 2013, the F-TYPE won Germany’s most prestigious
automotive award, the Golden Steering Wheel and the “World
Car Design of the Year”award, as well as the“Convertible of the
Year” award from Top Gear.
At the Frankfurt Motor Show in September 2013,
Jaguar revealed its first ever crossover concept vehicle, the
Jaguar C X17
, based on a new modular scalable advanced
aluminum architecture, which will allow Jaguar to grow its
product portfolio and target high growth areas of the premium
market, beginning with a new mid-sized sedan in 2015. It later
announced that the new mid-sized sedan will be named
“Jaguar XE”
at the Geneva Auto show in March 2014 and this
will be launched in early 2015.
The new
“Discovery Vision”
Concept car was unveiled at
New York International Auto Show in April 2014.
Land Rover
Discovery Sport
(Freelander replacement) was announced
as first new member of Discovery family to be launched in
late 2014.
Jaguar Land Rover’s joint venture with Chery Automobiles,
China has been progressing well to develop, manufacture and
sell certain Jaguar and Land Rover vehicles and jointly branded
vehicles for the Chinese market. The production will start in FY
2014-15.
Continued investment in new state-of-the-art facility at
Wolverhampton, UK, to manufacture new advanced low
emission engines from FY 2014-15.
The Company and Jaguar Land Rover participated in various
international auto shows displaying its range of products,
including at Geneva, New York, Detroit and Jakarta, wherein
the displayed products won accolades and a positive
response.
In addition, JLR has also committed to a manufacturing facility
in the State of Rio de Janeiro, Brazil.
Further, JLR has signed a Letter of Intent with the National
Industrial Clusters Development Program (NICDP) in the
Kingdom of Saudi Arabia for set-up of an automotive facility.
Tata Daewoo Commercial Vehicles Company Limited
Tata Daewoo Commercial Vehicles Company Limited (TDCV) sold
10,600 vehicles, higher by 5% over FY 2012-13. TDCV Domestic
sales were at 6,584 vehicles, 2nd highest in its history, registering a
growth of 21.9% compared to 5,400 vehicles sold in previous year.
However, in Export market sales at 4,016 vehicles was lower by
14.6% compared to 4,700 vehicles of last year mainly due to adverse
economic conditions in global markets.
Tata Motors (Thailand) Limited
Tata Motors Thailand Limited (TMTL) sold 2,480 vehicles in the FY
2013-14, a year which saw the automotive market in Thailand drop
