Statutory Reports
Corporate Overview
69th Annual Report 2013-14
Financial Statements
04
CYRUS P MISTRY
Chairman
On the product front, the company
showcased several impressive new
products at the Auto Expo ’14, with
a lineup that included Tata Bolt and
Tata Zest, due to be launched in the
coming months. Both the products
have created high levels of excitement
among the potential customers.
Dear Shareholders,
The global economic situation showed signs of strengthening, with
US economy speeding up, but the environment in the Eurozone
remained weak with some early signs of improvement. GDP growth
in China and India were low as compared to the high growth rates
in the past. However, both these economies continue to hold a
great promise for leading global growth in future.
The global auto industry recorded a surge in sales with impressive
growth,riding on the back of strong demand in the world’s top
two automobile markets – China and the United States. The
automotive industry in the US came back to strength from the poor
period of recession, supported by low interest rates and improving
consumer sentiment. Sales in China- the world’s largest auto market
since 2009- also crossed the 20 million cars mark. Pressure on
local carmakers built up, as foreign automakers stepped up their
investments in China. Europe did show some early signs of recovery,
but with high levels of unemployment continuing to prevail in
southern Europe, a clear turnaround was not visible. Consumer
behavior in that region remains cautious.
CHAIRMAN’S
MESSAGE
