TATA MOTORS COMPANY LIMITED

 INTRODUCTION
 VISION
 MISSION
 HISTORY
 BOARD OF DIRECTORS
 MAJOR MILESTONES
 ACHIVEMENTS
 INNOVATIONS
 PERFOMANCE
 HR STRATEGY OR PROSPECTUS
 FINANCIAL ASPECTS
 MARKETING STRATEGY
 RECENT DEVELOPMENTS
 ANNUAL REPORTS
 PRESENT POSITIONS
 FUTURE TRENDS
 INTRODUCTION:

Tata Motors Limited is India’s largest automobile company, with revenues of Rs.
35651.48 crores (USD 8.8 billion) in 2007-08. It is the leader in commercial vehicles
in each segment, and among the top three in passenger vehicles with winning products
in the compact, midsize car and utility vehicle segments. The company is the world’s
fourth largest truck manufacturer, and the world’s second largest bus manufacturer.

The company’s 23,000 employees are guided by the vision to be “best in the manner
in which we operate, best in the products we deliver, and best in our value system and
ethics.”

Established in 1945, Tata Motors’ presence indeed cuts across the length and
breadth of India. Over 4 million Tata vehicles ply on Indian roads, since the first
rolled out in 1954. The company’s manufacturing base in India is spread across
Jamshedpur (Jharkhand), Pune (Maharashtra), Lucknow (Uttar Pradesh) and
Pantnagar (Uttarakhand). Following a strategic alliance with Fiat in 2005, it has set up
an industrial joint venture with Fiat Group Automobiles at Ranjangaon (Maharashtra)
to produce both Fiat and Tata cars and Fiat powertrains. The company is establishing
two new plants at Dharwad (Karnataka) and Sanand (Gujarat). The company’s
dealership, sales, services and spare parts network comprises over 3500 touch points;
Tata Motors also distributes and markets Fiat branded cars in India.

Tata Motors, the first company from India’s engineering sector to be listed in the
New York Stock Exchange (September 2004), has also emerged as an international
automobile company. Through subsidiaries and associate companies, Tata Motors has
operations in the UK, South Korea, Thailand and Spain. Among them is Jaguar Land
Rover, a business comprising the two iconic British brands that was acquired in 2008.
In 2004, it acquired the Daewoo Commercial Vehicles Company, South Korea’s
second largest truck maker. The rechristened Tata Daewoo Commercial Vehicles
Company has launched several new products in the Korean market, while also
exporting these products to several international markets. Today two-thirds of heavy
commercial vehicle exports out of South Korea are from Tata Daewoo. In 2005, Tata
Motors acquired a 21% stake in Hispano Carrocera, a reputed Spanish bus and coach
manufacturer, with an option to acquire the remaining stake as well. Hispano’s
presence is being expanded in other markets. In 2006, it formed a joint venture with
the Brazil-based Marcopolo, a global leader in body-building for buses and coaches to
manufacture fully-built buses and coaches for India and select international markets.
In 2006, Tata Motors entered into joint venture with Thonburi Automotive Assembly
Plant Company of Thailand to manufacture and market the company’s pickup vehicles
in Thailand. The new plant of Tata Motors (Thailand) has begun production of the
Xenon pickup truck, with the Xenon having been launched in Thailand at the
Bangkok Motor Show 2008.

Tata Motors is also expanding its international footprint, established through exports
since 1961. The company’s commercial and passenger vehicles are already being
marketed in several countries in Europe, Africa, the Middle East, South East Asia,
South Asia and South America. It has franchisee/joint venture assembly operations in
Kenya, Bangladesh, Ukraine, Russia and Senegal.

The foundation of the company’s growth over the last 50 years is a deep
understanding of economic stimuli and customer needs, and the ability to translate
them into customer-desired offerings through leading edge R&D. With over 2,500
engineers and scientists, the company’s Engineering Research Centre, established in
1966, has enabled pioneering technologies and products. The company today has
R&D centres in Pune, Jamshedpur, Lucknow, in India, and in South Korea, Spain, and
the UK. It was Tata Motors, which developed the first indigenously developed Light
Commercial Vehicle, India’s first Sports Utility Vehicle and, in 1998, the Tata Indica,
India’s first fully indigenous passenger car. Within two years of launch, Tata Indica
became India’s largest selling car in its segment. In 2005, Tata Motors created a new
segment by launching the Tata Ace, India’s first indigenously developed mini-truck
 In January 2008, Tata Motors unveiled its People’s Car, the Tata Nano, which India
and the world have been looking forward to. A development, which signifies a first
for the global automobile industry, the Nano brings the comfort and safety of a car
within the reach of thousands of families. When launched in India later in 2008, the
car will be available in both standard and deluxe versions. The standard version has
been priced at Rs.100,000 (excluding VAT and transportation cost).

VISION:

At the Tata group our purpose is to improve the quality of life of the communities
we serve. We do this through leadership in sectors of economic significance, to which
the group brings a unique set of capabilities. This requires us to grow aggressively in
focused areas of business.

Our heritage of returning to society what we earn evokes trust among consumers,
employees, shareholders and the community. This heritage is being continuously
enriched by the fomalisation of the high standards of behaviour expected from our
employees and companies.

The Tata name is a unique asset representing leadership with trust. Leveraging this
asset to enhance group synergy and becoming globally competitive is our chosen
route to sustained growth and long-term success.

Core values
The Tata group has always been a values-driven organisation. These values continue
to direct the group's growth and businesses. The five core Tata values underpinning
the way we do business are:

• Integrity: We must conduct our business fairly, with honesty and transparency.
Everything we do must stand the test of public scrutiny.
• Understanding: We must be caring, show respect, compassion and humanity for
our colleagues and customers around the world, and always work for the benefit of the
communities we serve.
 • Excellence: We must constantly strive to achieve the highest possible standards in
our day-to-day work and in the quality of the goods and services we provide.
• Unity: We must work cohesively with our colleagues across the group and with
our customers and partners around the world, building strong relationships based on
tolerance, understanding and mutual cooperation.
• Responsibility: We must continue to be responsible, sensitive to the countries,
communities and environments in which we work, always ensuring that what comes
from the people goes back to the people many times over.

MISSON:

Tata Motors had a strong conviction that our engineers, who could put a rocket into
space, could produce our own car.”

It was this very conviction of Ratan Tata that led to the birth of Indica - the car that
put India on the automobile world map. Developing an indigenous Indian car was a
daunting task. One that Tata Motors took head-on, encouraged by the faith and
confidence Chairman Ratan Tata had in the Company’s engineering skills. Conceived
within a time frame of 31 months - from concept to commercialization - at a total cost
of $ 400 million, the Indica is a small step towards fulfilling Ratan Tata’s vision of
Tata Motors as a great car manufacturer.

On the Tata Motors board since 1981, Ratan Tata continues the traditions of Jamsetji
Tata and JRD Tata, instilling ethics and credibility in the Company. He has steered the
Company in challenging times, emerging victorious under even adverse conditions.
Under his leadership , Tata Motors is charting for itself a global path in the
automotive world. The agreement with MG Rover, UK to manufacture and sell Rover
branded Indicas in UK and Western Europe is a step in that direction.

Ratan Tata’s global ambitions for Tata Motors have taken wing with the recent
acquisition of Daewoo Commercial vehicle Co., South Korea and Tata Motors’ entry
in the South African market. The Daewoo acquisition will give Tata Motors a
substantial presence in the Korean market in addition to synergies in manufacturing,
marketing and research. According to Ratan Tata, the acquisition is a historic occasion
for Tata Motors and the Tata Group as this is the largest acquisition by any Indian
company in Korea. He believes that the South Africa could be a possible stepping
stone for other countries in Africa.

Among the many firsts Tata Motors has achieved under Ratan Tata’s leadership is
the listing of the Company on the New York Stock Exchange (NYSE) - the first
company in the Indian engineering sector to list its securities on the NYSE.

His next mission for Tata Motors is the development of the Rs 1 lakh car - the
people’s car. As he says, “India is capable of doing anything it wishes to do if you do
not constrain the people...”

HISTORY

Tata Motors Limited, formerly known as TELCO (TATA Engineering and

Locomotive Company), is a multinational corporation headquartered in Mumbai,
India. It is India's largest passenger automobile and commercial vehicle
manufacturing company. Part of the Tata Group, and one of the world's largest
manufacturers of commercial vehicles. The OICA ranked it as the world's 20th largest
automaker, based on figures for 2006.

Tata Motors was established in 1945, when the company began manufacturing
locomotives. The company manufactured its first commercial vehicle in 1954 in a
collaboration with Daimler-Benz AG, which ended in 1969. Tata Motors was listed on
the NYSE in 2004, and by 2005 it was ranked among the top 10 corporations in India
with an annual revenue exceeding INR 320 billion. In 2004, it bought Daewoo's truck
manufacturing unit, now known as Tata Daewoo Commercial Vehicle, in South
Korea. It also, acquired a 21% stake in Hispano Carrocera SA, giving it controlling
rights in the company. Tata Motors launched their much awaited Tata Nano, noted for
its Rs 100,000 price-tag, in January 2008.
 In March 2008, it finalised a deal with Ford Motor Company to acquire their British
Jaguar Land Rover (JLR) business, which also includes the Rover, Daimler and
Lanchester brand names. The purchase was completed on 2 June 2008

Tata Motors has its manufacturing base in Jamshedpur, Pantnagar, Lucknow,

Ahmedabad and Pune.

Tata Motors launches its first truck in collaboration with Mercedes-Benz

Tata Motors is a part of the Tata and Sons Group, founded by Jamshetji Tata and J.
Baker. The company was established in 1945 as a locomotive manufacturing unit and
later expanded its operations to commercial vehicle sector in 1954 after forming a
joint venture with Daimler-Benz AG of Germany.
 Tata Indica

Main article: Tata Indica

Tata Indica

After years of dominating the commercial vehicle market in India, Tata Motors
entered the passenger vehicle market in 1998 by launching a hatch-back car, the Tata
Indica. Indica was the first car indigenously designed in India. Though the car was
initially panned by auto-analysts, the car's excellent fuel economy, powerful engine
and aggressive marketing strategy made it one of the best selling cars in the history of
the Indian automobile industry. A newer version of the car, named Indica V2, was a
major improvement over the previous version and quickly became a mass-favorite. A
badge engineered version of the car was sold in the United Kingdom as the Rover
CityRover. Tata Motors also successfully exported large quantities of the car to South
Africa. The success of Indica in many ways marked the rise of Tata Motors.

Daewoo acquisition

Tata Novus is one of the best selling commercial trucks in South Korea.

With the success of Tata Indica, Tata Motors aimed to increase its presence
worldwide. In 2004, it acquired the Daewoo Commercial Vehicle Company of South
Korea. The reasons behind the acquisition were:
 • Company’s global plans to reduce domestic exposure. The domestic commercial
vehicle market is highly cyclical in nature and prone to fluctuations in the domestic
economy. Tata Motors has a high domestic exposure of ~94% in the MHCV segment
and ~84% in the light commercial vehicle (LCV) segment. Since the domestic
commercial vehicle sales of the company are at the mercy of the structural economic
factors, it is increasingly looking at the international markets. The company plans to
diversify into various markets across the world in both MHCV as well as LCV
segments.
• To expand the product portfolio Tata Motors recently introduced the 25MT GVW
Tata Novus from Daewoo’s (South Korea) (TDCV) platform. Tata plans to leverage
on the strong presence of TDCV in the heavy-tonnage range and introduce products in
India at an appropriate time. This was mainly to cater to the international market and
also to cater to the domestic market where a major improvement in the Road
infrastructure was done through the National Highway Development Project

On its journey to make an international foot print, it continued its expansion through
the introduction of new products into the market range of buses (Starbus & Globus)

Joint ventures

Tata MarcoPolo NON-AC City Bus in Delhi.The NON-AC version is only used in
Delhi while AC versions are used in Bangalore, Mumbai and Delhi alike

In 2005, sensing the huge opportunity in the fully built bus segment, Tata Motors
acquired 21% stake in Hispano Carrocera SA, Aragonese bus manufacturing company
and introduced its high-end inter-city buses in the country.

Tata Motors has also formed a 51:49 joint venture with Marcopolo S.A., a Brazil-
based global leader, lead by Brian Behrle, in bus body building. This joint venture is
to manufacture and assemble fully-built buses and coaches targeted at developing
mass rapid transportation systems. The joint venture will absorb technology and
 expertise in chassis and aggregates from Tata Motors, and Marcopolo will provide
know-how in processes and systems for bodybuilding and bus body design.

Tata Ace

Tata Ace, India's first indigenously developed sub-one ton mini-truck, was launched
in May 2005. The mini-truck was a huge success in India with auto-analysts claiming
that Ace had changed the dynamics of the light commercial vehicle (LCV) market in
the country by creating a new market segment termed the small commercial vehicle
(SCV) segment. Ace rapidly emerged as the first choice for transporters and single
truck owners for city and rural transport. By October 2005, LCV sales of Tata Motors
had grown by 36.6 percent to 28,537 units due to the rising demand for Ace. The Ace
was built with a load body produced by Autoline Industries. By 2005, Autoline was
producing 300 load bodies per day for Tata Motors. Ace is still one of the number
maker for TML, TML sold the 2,00,000th Ace in August 2008, within 4 years since
its introduction.

Tata Ace has also been exported to several European, South American and African
countries. Electric-versions of Tata Ace are sold through Chrysler's Global Electric
Motorcars division.

2007
 Tata Pick Up, unveiled in 2007, is expected to enter European and American market
by 2009.In 2007, Tata Motors generated revenues of Rs 31,884.69 crore.

In 2007, Tata Motors launched several concept models and future designs of existing
models. It also formed joint ventures with various local companies in several countries
to assemble Tata cars. Tata Motors launched a re-designed version of Tata Xenon TL
during Motor Show Bologna which would be assembled in Thailand and Argentina. A
pick-up variant of Tata Sumo was also launched under the program 'Global Pick-Up'.
The company plans to launch the new pick-up model in India, Southeast Asia, Europe,
South Africa, Turkey and Saudi Arabia. Tata Motors also unveiled newer model of
Tata Indigo and Tata Elegante concept-car during the Geneva Auto Show.

Tata Motors also formed a joint venture with Fiat and gained access to Fiat’s diesel
engine technology. Tata Motors is looking to extend its relationship with Fiat and
Iveco to other segments like the 'Global Pick-Up' program. The launch of the 'Global
Pick-Up' will mark the entry of the company into developed markets like Europe and
the United States. The project was initially a collaboration between Tata Motors and
its subsidiary Tata Daewoo Commercial Vehicles, but later Tata Motors decided to
work with Iveco as Daewoo’s design was not in sync with the needs of sophisticated
European customers. The company has formed a joint venture with Thailand’s
Thonburi Company, an independent auto assembler, in which Tata Motors will hold a
70% stake.
 2008 onwards

Compressed air car

Tata OneCAT
Main article: Tata OneCAT

Tata Motors and Motor Development International of Luxembourg have jointly

developed the world's first commercially-viable prototype of a compressed air car,
named OneCAT.

It has airtanks that can be filled in 4 hours by plugging the car into a standard
electrical plug. MDI plans to also design a gas station compressor, which would fill
the tanks in 3 minutes. There are no gasoline costs and no fossil fuel emissions from
the vehicle. There are costs, pollutant emissions, and greenhouse gas emissions from
the generation of the electricity used to compress the air. These emissions can be
mitigated or eliminated, depending on the source of the electricity (e.g. coal fired
power plant, nuclear, solar, etc.).

OneCAT is a five seat vehicle with a 200-litre (7.1 cu ft) trunk. With full tanks it
will run at 100 km/h (62 mph) for 90 kilometres (56 mi) range in urban cycle. It is
actually a dual fuel car but it is more efficient than any present Hybrid cars.
 Tata Nano

Main article: Tata Nano

Tata Nano

Tata has developed a car, named Tata Nano, that aims to sell in 2008. It is the least
expensive production car in the world: the price is about Rs. 100,000 (USD $2,500)
[18]
. The company unveiled the supermini car during the Auto Expo 2008 exhibition in
[19]
Pragati Maidan, New Delhi. Bajaj Auto and Mahindra-Renault have plans to
launch cars in this price range.[20]

Tata has faced controversy over developing the Nano. Some environmentalists are
concerned that the launch of such a low-price car could lead to mass motorization in
India with adverse effects on pollution and global warming. There was also strong
opposition to the compulsory acquisition of land for the proposed car factory in Singur
West Bengal. Now Tata Motors Limited plan to set up the Nano factory in Sanand,
Gujarat, because of the problems faced in West Bengal.
 Future challenges

Tata Xover

Plastic Car Production- Tata plans on producing a car that is made of nearly 100%
plastic.

• Mahindra and Mahindra: JV with ITEC, North American leader in heavy trucks.
M&M has formed a 51:49 JV called Mahindra International with ITEC, USA (parent
Navistar International), to manufacture commercial vehicles and to bolster its position
in the CV business. ITEC is the leader in medium and heavy trucks and buses in North
America, and is the world's largest

manufacturer of medium-duty diesel engines. Mahindra International aims to have a

presence across the CV market (6-35 tonnes GVW) with variants of passenger
transport, cargo and specialised load applications and is likely to start producing
medium/heavy commercial vehicles from FY09.
Products

Passenger cars and utility vehicles

Tata Indigo SW

• Tata Sierra
• Tata Estate
• Tata Sumo/Spacio
• Tata Safari
• Tata Indica
• Tata Indigo
• Tata Indigo Marina
• Tata Nano (3RD MARCH 2009)
• Tata Xenon XT

Concept vehicles
Tata Cliffrider

• 2000 Aria Roadster

• 2001 Aria Coupe
• 2002 Tata Indica
• 2002 Tata Indiva
• 2004 Tata Indigo Advent
• 2005 Tata Xover
• 2006 Tata Cliffrider
• 2007 Tata Elegante
• 2008 Tata sumo grande

Commercial vehicles

Tata 1616 Starbus

Tata 3118 Flatbed Truck

Tata 4923 All Terrain Truck

• Tata Ace
• Tata TL/Telcoline/207 DI Pickup Truck
• Tata 407 Ex and Ex2
• Tata 709 Ex
• Tata 809 Ex and Ex2
• Tata 909 Ex and Ex2
• Tata 1109 (Intermediate truck)
• Tata 1510/1512 (Medium bus)
• Tata 1610/1616 (Heavy bus)
• Tata 1613/1615 (Medium truck)
• Tata 2515/2516 (Medium truck)
• Tata Starbus (Medium Bus)
• Tata Globus (Low Floor Bus)
• Tata Marcopolo Bus (Low Floor Bus)
• Tata 3015 (Heavy truck)
• Tata 3118 (Heavy truck) (8X2)
• Tata 3516 (Heavy truck)
• Tata 4923 (Ultra-Heavy truck) (6X4)
• Tata Novus (Heavy truck designed by Tata Daewoo)

Military vehicles

• Tata LSV (Light Specialist Vehicle)

• Tata 407 Troop Carrier, available in hard top, soft top, 4x4, and 4x2 versions
• Tata LPTA 713 TC (4x4)
• Tata LPT 709 E
• Tata SD 1015 TC (4x4)
• Tata LPTA 1615 TC (4x4)
• Tata LPTA 1621 TC (6x6)
 • Tata LPTA 1615 TC (4x2)

Board of Directors :
Mr. Ratan N Tata (Chairman)
Mr. N A Soonawala
Dr. J J Irani
Mr. R Gopalakrishnan
Mr. Nusli N Wadia
Mr. S M Palia
Dr. R A Mashelkar
Mr. Nasser Munjee
Mr. Subodh Bhargava
Mr. Ravi Kant
Mr. P M Telang

Senior management:
Mr. Ravi Kant Managing Director
Mr. P M Telang Executive Director (Commercial Vehicles)
Mr. Rajiv Dube President (Passenger Cars)

Mr. C Ramakrishnan Chief Financial Officer

Mr. S N Ambardekar Plant Head (CVBU, Pune)

Mr. S B Borwankar Head (Jamshedpur - Plant)

Mr. A M Mankad Head (Car Plant)

Mr. U K Mishra Vice President (ADD and Materials-CVBU)
Mr. S Krishnan Vice President (Commercial - PCBU)
Mr. P Y Gurav Vice President (Corp. Finance - A/c and Taxation)
Mr. S J Tambe Vice President (Human Resources)
Mr. R Pisharody Vice President (Sales and Marketing - CVBU)
Mr Nagesh Pinge Chief Internal Auditor
 Company secretary:
Mr. H K Sethna

Corporate Communications:
Mr. Debasis Ray Head - Corporate Communications

Milestones:

It has been a long and accelerated journey for Tata Motors, India's leading
automobile manufacturer. Some significant milestones in the company's journey
towards excellence and leadership.

 1945 : Tata Engineering and Locomotive Co. Ltd. was established to

manufacture locomotives and other engineering products.

 1948 : Steam road roller introduced in collaboration with Marshall Sons (UK).

 1954 : Collaboration with Daimler Benz AG, West Germany, for manufacture
of medium commercial vehicles. The first vehicle rolled out within 6 months of the
contract.

 1959 : Research and Development Centre set up at Jamshedpur.

  1961 : Exports begin with the first truck being shipped to Ceylon, now Sri
Lanka.

 1966 : Setting up of the Engineering Research Centre at Pune to provide

impetus to automobile Research and Development.

 1971:Introduction of DI engines.

 1977:First commercial vehicle manufactured in Pune.

 1983:Manufacture of Heavy Commercial Vehicle commences

 1991:Launch of the 1st indigenous passenger car Tata Sierra.

 1992:Launch of the Tata Estate.

 1993 :Joint venture agreement signed with Cummins Engine Co. Inc. for the
manufacture of high horsepower and emission friendly diesel engines.

 1994:Launch of Tata Sumo - the multi utility vehicle.

 1995 :Mercedes Benz car E220 launched

 1996 :Tata Sumo deluxe launched

 1997 Tata Sierra Turbo launched. 100,000th Tata Sumo rolled out.

 1998 :Tata Safari - India's first sports utility vehicle launched. 2 millionth
vehicle rolled out. Indica, India's first fully indigenous passenger car launched.

 2000 :First consignment of 160 Indicas shipped to Malta. Indica with Bharat
Stage 2 (Euro II) compliant diesel engine launched. Utility vehicles with Bharat 2
(Euro II) compliant engine launched. Indica 2000 (Euro II) with multi point fuel
injection petrol engine launched. Launch of CNG buses. Launch of 1109 vehicle -
Intermediate commercial vehicle.

 2001 :Indica V2 launched - 2nd generation Indica. 100,000th Indica wheeled

out. Launch of CNG Indica. Launch of the Tata Safari EX Indica V2 becomes India's
number one car in its segment. Exits joint venture with Daimler Chrysler.
  2008: Ace plant at Pantnagar (Uttarakhand) begins production. Indica Vista –
the new generation Indica, is launched. Tata Motors' new plant for Nano to come up
in Gujarat. Latest common rail diesel offering- the Indica V2 DICOR, launched.
Indigo CS (Compact Sedan), world’s first sub four-metre sedan, launched. Launch of
the new Sumo -- Sumo Grande, which combines the looks of an SUV with the
comforts of a family car. Tata Motors unveils its People's Car, Nano, at the ninth Auto
Expo. Xenon, 1-tonne pick-up truck, launched in Thailand. Tata Motors signs
definitive agreement with Ford Motor Company to purchase Jaguar and Land Rover.
Tata Motors completes acquisition of Jaguar Land Rover. Tata Motors introduces new
Super Milo range of buses. Tata Motors is Official Vehicle Provider to Youth Baton
Relay for The III Commonwealth Youth Games Pune 2008. Indica Vista – the second
generation Indica, is launched. Tata Motors launches passenger cars and the new pick-
up in D.R. Congo.

 2009:Tata Marcopolo Motors' Dharwad plant begins production.

ACHEIVEMENTS

Tata Motors wins award at the Bangkok International Motor Expo...

Tata Motors - Investor Relations ranked first in India...

Nirmal Gram Puraskar awarded to Potka panchayat...

Tata Motors bags the NDTV Profit Business Leadership Award 2008...

Tata Motors awarded the Top Exporter Trophy by EEPC...

 CVBU Pune wins Rajiv Gandhi National Quality Award for 2007...

PCBU bags Handa Golden Key Award...

Tata Motors receives Uptime Champion Award 2007...

Aggregates Business, CVBU, bags 'Best Supplier Award' from ECEL...

'NDTV Profit' Business Leadership Award...

Tata Motors bags National Award for Excellence in Cost Management...

Tata Motors' TRAKIT bags silver award for 'Excellence in Design'...

Tata Motors Pune - CVBU has bagged the "Golden Peacock National
Quality Aw...

Tata Motors was awarded four prestigious honours, at the 'CNBC TV18-
Autocar Au...

Tata Motors chosen as India's Most Trusted Brand in Cars...

Business Today selects Mr. P.P. Kadle as India's Best CFO in 2005...

Pune Foundry Division bags prestigious Green Foundry Award...

Tata Motors is 'Commercial Vehicle Manufacturer of the Year'...

ACE bags 'Best Commercial Vehicle Design' at the BBC-Top Gear

Awards....

Jamshedpur bags National Energy Conservation Award for the fourth

consecutive ye...

Tata Motors bags the prestigious' CII-EXIM Bank award' for business
excellence...

Tata Motors receives JRD QV awards for Business Excellence...

 'Car Maker of the Year' Award for Tata Motors...

Tata Motors is 'Commercial Vehicle Manufacturer of the Year'...

TNS Voice of the Customer Award for Indica Diesel...

'CFO of the Year Award 2004' awarded to Mr Praveen P Kadle,

Executive Director -...

Tata Motors wins the prestigious 'Corporate Platinum' Award at the India
Manuf...

Tata Motors wins 'Golden Peacock Award' for Corporate Social

Responsibility...

Tata Motors CVBU Pune wins National Energy Award...

Tata Motors - Jamshedpur wins 'Energy Efficient Unit Award'...

Tata Motors wins the first CSIR Diamond Jubilee Technology Award...

Tata Motors Training Division Wins "Golden Peacock National Training

Award 2004"...

Tata Motors Jamshedpur & Lucknow win awards...

TATA MOTORS CASE STUDY WINS FIRST PRIZE IN IIIE

PRODUCTIVITY CONTEST...

TATA MOTORS WINS AWARD FOR FAIR BUSINESS

PRACTICES...

Tata Indica and Tata Safari EXi win awards...

Tata Motors-Car plant gets two ISO certifications...

Tata Motors bags awards at 14th National Convention of INSAAN...

 Indica and Safari win accolades...

TATA MOTORS PUNE AWARDED SECOND PLACE IN NATIONAL

LEVEL COMPETITION IN ENERGY CO...

Tata Motors Receives "India's Best Employer" Award From The

Employe...

Tata Motors, CVBU, Pune has won the prestigious Handa Golden Key
award institute...

CVBU RECEIVES COMMENDATION CERTIFICATE FOR

'STRONG COMMITMENT TO TQM'...

Tata Motors team wins The Runners Up Position at The Asian Business
Simulation C...

THE PRESTIGIOUS BALANCED SCORECARD COLLABORATIVE

HALL OF FAME AWARD...

Tata Motors receives all India trophy for Top Exporters...

Tata Indigo ad campaign wins Effie award...

Golden Peacock Environment Management Award - 2003...

Industry and Technology Award, 2002...

Advertising Awards...
 INNOVATIONS:

India´s car manufacturer Tata Motors is about to revolutionize the global car market
with its disruptive innovation strategy. At the Delhi Motor Show, which will start on
January 10, Tata Motors will present its disruptive innovation named „People´s Car
(Volkswagen !)“ or „One-Lakh-Car“. As of autumn 2008 this innovation is planned to
be produced in India. One Lakh is equivalent to 100.000 IndianRupees. The „People´s
Car (Volkswagen)“ therefore corresponds to a “Two-Thousand-Euro-Car“.
Tata´s disruptive Innovation of the „People´s Car“ will turn the automobile market
on its head, and will result in a paradigm shift. As many other disruptive innovations
(the term was coined by Clayton Christensen) Tata´s innovation consciously sacrifices
some performance in order to be able to radically reduce the costs and the selling
price. According to available information, the car, on the one hand, will have four
seats and four doors but, on the other hand, it will be only propelled by a 660 ccm
rear-mounted diesel engine with 30 horsepower. The maximum speed is said to be 64
kilometers per hour.
The target group of Tata´s disruptive innovation of the “One-Lakh-Car” are not the
already existing car drivers. It is rather the millions of Indian motor bike and motor
scooter drivers, to which, however, the drivers of three-wheeled cars can be added,
that Tata´s innovation strategy targets. While each year 6.5 million motor bikes and
motor scooters are sold in India, up to now only 1.3 million cars are purchased every
year. The conversion of motor bike and motor scooter drivers into car drivers
therefore represents a huge market potential.
It is estimated that out of India´s present population of more than 1.1 billion people
more than 400 thousand qualify for the target group of a low-price innovation strategy
and as a potential buyer of a low-price car. The determining factor for the conversion
success is the price point. With only one Lakh Tata´s disruptive innovation will cost
about double the price of an Indian motor scooter. This should enable Tata to win over
a large part of the price sensitive motor bike and motor scooter drivers, who so far
could not afford a car, for the “People´s Car”. With its four wheels and the protecting
body, this disruptive innovation will open up a totally new world of safety and
comfort for the Indians that have driven motor bikes and scooters so far. This is how
Tata´s CEO Ratan Tata explains his innovation strategy.
In the first five years Tata Motors plans to sell 2 million „People´s Cars“. Apart from
selling the car in India, an export of this innovation to emerging countries such as
Thailand and Bangladesh is envisioned.
Tata Motors as a company up to now is the no.2 in the Indian passenger car market
(but it is the no.1 in the Indian truck market). Tata´s main rival, market leader Maruti
Suzuki, of which 54% is owned by the Japanese Suzuki Motor Company, is casting
doubts on Tata´s innovation strategy and about the feasibility of producing an
innovative car for one Lakh only that meets the Indian safety and emission standards.
This doubt could turn out to be an error with grave consequences.
Tata Motors is giving reassurances that its “People´s Car” will comply with the
Indian safety and emission standards that understandably at this moment are not yet as
stringent as the German ones. Tata is the only Indian car producer with a certified
crash-test facility. In order to reduce the cost of this innovation, the “One-Lak-Car”
will use more plastic parts, which are glued together rather than welded, than is usual
in the car industry. The first factory for the “One-Lakh-Car” has already been built in
Singpur in West Bengal. The innovative car will be assembled in further three satellite
plants which will also sell and service the cars, if needed, in order to save the trade
margin of the intermediaries.
In its innovation strategy, Tata Motors makes use of a network of European partners
such as BASF, which supplies plastic components, or Fiat, which helps Tata with its
design. Concerning design: this in the past was often a weakness of products from
emerging countries. In its design, Tata relies on the help of such renowned Italian
design firms as I.D.E.A. and Stile Bertone, respectively. Tata has already sufficiently
proven in the past that it knows how to design likeable cars.

Picture: Tata Motors´ compact car Indica, originally introduced in India in 1996, the
market-leading passenger car

Maruti Suzuki´s doubts may actually be rather tactically motivated. Also at the Delhi
Motor Show, Suzuki will present an innovation of its own of a low-cost car with the
code name „A-Star“. In Suzuki´s global innovation management plan, India in the
future is planned to play the role of an innovation centre for low-cost vehicles.

PERFOMANCE

Tata Motors reported a total sale of 47,678 vehicles (including exports) for the
month of December 2007, a decline of 2% compared to 48,757 vehicles sold in
December last year. Cumulative sales for the company were flat at 4,06,929 nos.

Commercial Vehicles:

The company’s sales of commercial vehicles in December 2007 in the domestic

market were 28,661 nos., a growth of 2% compared to 28,179 vehicles sold in
December last year. M&HCV sales stood at 15,689 nos., a decline of 9% over
December 2006, while LCV sales were 12,972 nos., a growth of 19% over December
2006.

Cumulative sales of commercial vehicles in the domestic market for the fiscal were
2,15,530 nos., a growth of 2% over last year. Cumulative M&HCV sales stood at
1,12,871 nos., a decline of 7.7% over last year, while LCV sales for the fiscal were
1,02,659 nos., an increase of 15% over last year.

Passenger Vehicles :

Offtake to dealers in the month was curtailed to limit year-end stocks. The passenger
vehicle business achieved total sales of 14,316 vehicles in the domestic market in
December 2007, a decline of 13% over December 2006. The Indica reported sales of
9,497 nos., a decline of 10% over December 2006. The Indigo family registered sales
of 1,379 nos., a decline of 33.6% over December 2006. The Sumo and Safari
accounted for sales of 3,440 nos., a decline of 10.6% over December 2006. The Safari
recorded a 10% growth with sales of 1,161 nos. The promotional scheme launched by
the company on the occasion of the one millionth car production milestone received a
very encouraging response with retails being nearly 26,000 vehicles, the highest this
fiscal.
 Cumulative sales of passenger vehicles in the domestic market for the fiscal were
1,51,136 nos., a decline of

3.7 % over the same period last year. Cumulative sales of the Indica at 100,111 nos.,
reported a decline of 2%. Cumulative sales of the Indigo family were 20,058 nos., a
decline of 13.9%. Cumulative sales of Sumo and Safari were 30,967 nos., a decline of
1%. The Safari recorded a 24% growth with sales of 11,856 nos.

Exports
The company's sales from exports at 4,701 vehicles in December 2007 grew by 16%
compared to 4,063 vehicles in December 2006. The cumulative sales from exports in
the current period at 40,263 nos. have recorded a growth of 5% over the previous
year.

Price Performance:

Perio Actual Vs. S&P 500 Rank In Industry

d (%) (%) Industry Rank
4 -16.96 -10.29 12 96
Week
13 -12.83 -9.43 41 78
Week
26 -65.67 -42.39 22 35
Week
52 -81.35 -67.49 12 24
Week
YTD -25.17 -12.22 25 96
HR STRATEGY
Human Rights
Principle 1: Support and respect the protection of internationally
proclaimed human rights
Principle 2: Make sure that they are not complicit in human rights
abuses
Labour Standards
Principle 3: the freedom of association and the effective recognition
of the right to collective bargaining
Principle 4: the elimination of all forms of forced and compulsory
labour
Principle 5: the effective abolition of child labour
Principle 6: the elimination of discrimination in employment and
occupation

Environment
Principle 7: support a precautionary approach to environmental
challenges
Principle 8: undertake initiatives to promote environmental
responsibility
Principle 9: encourage the development and diffusion of
environmentally friendly technologies
HUMAN RESOURCE STRATEGIES

Tata Motors is the largest commercial vehicle manufacturer in the country and
among the top ten commercial vehicle manufacturers in the world. It is the only
company in the country having a significant presence in the commercial vehicle as
well as passenger car segments.
People who like their work, like working with TATA MOTORS, the company that
offers you MORE CAREER PER CAREER.

Responsibilities:

• Responsible for manpower planning, recruitment, employee engagement &

retention.
• Ensure the effective implementation of the Quality System requirements in HR
function.
• Preparation of the yearly budgets & monitoring of the same.
• Maintain the MIS & respective analysis related to the same.
• Active involvement in carrying out the different HR initiatives from time to time.
• Employee grievance handling & speedy resolution of the same.
• Training need identification & support in capability building of the employees.
• Administer the performance management system & adherence to the schedule.

Technology Development Knowledge¬Annual profits of the company invested in

research Strategic partnerships – MDI¬prototype building and testing facilities.
“Technology Day” organized¬ Formal benchmarking process. ¬(France), Fiat etc.
across all plant locations. 16

Human Resource Focus on development of technical¬competent engineers and

managers. ¬capabilities – Technical Training Center’s, Alliance with technical
Institutes Focus on development of managerial capabilities – MTC’s , TMTC,
executive Career advancement schemes –¬training programs at premier business
schools ESS,

Human Resource Focus on development of technical¬competent engineers and

managers. ¬capabilities – Technical Training Center’s, Alliance with technical
Institutes Focus on development of managerial capabilities – MTC’s , TMTC,
executive Career advancement schemes –¬training programs at premier business
schools ESS, FTSS 17

HR Philosophy ¬ Work cohesively with colleagues across the group ¬and humanity
for colleagues Employees' relatives at Pune have been encouraged¬Encourages self-
sufficiency The Tata Motors Grihini Social¬to form various industrial co- operatives
Welfare Society caters to employees' women dependents' 39

.Executive Selection Scheme (ESS) -¬HR Policies In-house vocational training

and¬fast track programme for accelerated growth Rotational assignments
and¬apprenticeship programme trains the technicians cross-functional mobility allow
employees to grow

All said and done…a new strategy is required… The Blue Ocean Strategy 41

Blue Ocean Strategy Red Ocean Blue Ocean Compete in the existing market place
Create unconsolidated market space Beat the competition Make the competition
irrelevant Exploit existing demand Create and capture new demand Make the value
cost trade off Break the value-cost trade off Differentiation or Low cast
Differentiation and Low Cost

.Corporate strategy:, parenting and synergies buy premium vehicle brands such as
Land Rover and Jaguar bolster Tata Motors’ Overall, the¬image as a global company
and increase its global reach and scale The¬Tata group has spent around $15.5
billion in acquiring foreign companies Leveraging this¬Tata name is a unique asset
representing leadership with trust asset to enhance group synergy and becoming
globally competitive

The Tata Group as¬market share, congregating under the umbrella of Tata group a
whole has over 20 publicly listed enterprises and operates in more than 80 countries
world-wide - lots of experience and resources to draw from for Strong corporate
governance based on “rich¬research and development purposes legacy of fair,
ethical, and transparent governance practices” to ensure that its employees act
ethically and the business continues to run smoothly

FINANCIAL ASPECTS

Tata Motors today reported consolidated gross revenue of Rs. 40340.79 crores in
2007-08, a growth of 9.3% compared to Rs. 36922.61 crores in 2006-07.

The consolidated revenues (net of excise) at Rs. 35651.48 crores posted a growth of
10.2% over Rs. 32361.20 crores in the previous year. The Consolidated Profit before
Tax (PBT) for the year was Rs. 3086.29 crores compared to Rs. 3088.00 crores. The
Consolidated Profit after tax (PAT) for the year was Rs. 2167.70 crores, a marginal
decrease over Rs. 2169.99 crores in the previous year.

Tata Motors has reported a Basic Earnings Per Share (EPS) of Rs. 56.24 for its
consolidated operations as against Rs. 56.43 in 2006-07.

Tata Motors gross revenue for the financial year 2007-08 was Rs. 33093.93 crores
(2006-07:Rs. 31819.48 crores).
The revenues (net of excise) at Rs.28730.82 crores posted a growth of 4.6% over Rs.
27470.03 crores in the previous year. The PBT for the year is Rs. 2576.47 crores, an
increase of 0.1% over Rs. 2573.18 crores last year. The PAT for the year is Rs.
2028.92 crores, an increase of 6% over Rs.1913.46 crores last year.

The Company’s margins were under pressure during the year due to rising
interest rates, constraints in availability of vehicle financing from outside sources and
unprecedented increase in input prices. The Company has focused on cost reduction
measures. There have been delays in the introduction of two new products, which are
expected to be launched in the very near future.

The total sales volume (including exports) for 2007-08 is 585,649 units, highest ever
of the Company, compared to 580,280 units in 2006-07. The Company maintained its
leadership position in commercial vehicles and was among the top three players in the
passenger vehicles, although it lost some market share. In the domestic market,
commercial vehicles’ sales increased by 4.8% to 312,935 units and passenger
vehicles’ sales at 218,055 units declined by 4.5%.

This year was a historical year for the Company marked with two path breaking
events - the unveiling of the Tata Nano - the world’s least expensive car and the
signing of the definitive agreement with Ford Motor Company for purchase of the
Jaguar and Land Rover businesses. A number of new products were launched towards
the end of the year. In passenger vehicles, new launches include the Indica V2 with a
common rail diesel (DICOR) offering, the Indigo CS (the world’s first sub 4-metre
sedan), the Indigo LS (an entry level DICOR offering), the Sumo Grande, and the
Safari DICOR 2.2 VTT range. Commercial vehicle introduction during 2007-08
included the new Magic and Winger range for passenger transportation, state-of-the-
art low-floor CNG-propelled buses and several trucks, tippers and tractor-trailers from
9 tonnes to 49 tonnes. These product launches would help the Company regain some
 of its market share.

While Tata Motors’ new plant at Pant Nagar (in Uttarakhand) for Ace and Magic
range of vehicles went on stream during 2007-08, construction activity is on at Singur
(in West Bengal) for the Tata Nano and at Dharwad (in Karnataka) for buses to be
manufactured by the Company’s joint venture, Tata Marcopolo Motors Limited. The
existing plants at Pune, Jamshedpur and Lucknow are undergoing expansion and
modernization.

The automobile industry including Tata Motors is expected to face challenging times
ahead due to unprecedented increase in input prices and continuing adverse economic
situation in India and globally.

Dividend

The Board of Directors has recommended a dividend of Rs.15/- per share of Rs.10/-
each for the financial year 2007-08 (2006-07: Rs.15/-). The dividend is subject to
approval of shareholders; tax on the dividend will be borne by the Company.

The Audited Financial Results for the financial year ended March 31, 2008, are
enclosed.

A developing economy like India craves for financial resources. Often the traditional
financial sector is not accessible to the customers at large, thereby creating a need for
financial organisations catering to specific industries. The auto industry worldwide has
often faced the problem of finding the right funding for its customers. These factors,
along with the cyclical nature of the auto industry, has induced automobile companies
to think of captive financing arms of the parent companies, which would exclusively
fund the parent products and also act as a catalyst in certain areas for promoting the
products.

Tata Motorfinance (TMF), the auto financing arm for Tata Motors, came into existence
in June 2003. This was a common front-end, jointly formed by BHPC (Bureau for Hire
Purchase and Credit) of Tata Motors and the asset financing arm of Tata Finance. This
company was a virtual entity, with both the divisions maintaining their legal identity,
and was in the market for exclusively financing Tata Motors vehicles. Subsequently
Tata Finance was merged with Tata Motors and in April 2005 TMF became a division
of Tata Motors.

We aspire to be a preferred financier by choice for Tata Motors customers & dealers
across all its products. Tata Motorfinance would be the top-of-the-mind choice for all
stakeholders when it comes to Tata Motors products. We wish to set a benchmark in
captive finance nationally and internationally.

• Management: The Company has 11 board of directors and the board is chaired by

Mr Ratan Tata. Mr Ravi kant is the managing director

• Financial Summary (FY 2006) : Revenue of Rs 3,212,988 Lakhs with a profit of

Rs 1,91,346. Of the revenues, 18% is derived from international businesses

• Listing: The Company's securities are listed on the Bombay Stock Exchange

Limited (BSE), National Stock Exchange of India Limited (NSE) and Madhya
Pradesh Stock Exchange Limited (MPSE). Also, Tata Motors is the first company
from India's engineering sector to be listed in the New York Stock Exchange
(September 2004)

Marketing strategies
 Competition is hotting up in the sports utility vehicle segment (SUV) in India once
again. Even as Mahindra & Mahindra Ltd is in the process of rolling out an integrated
marketing plan to announce the relaunch of Scorpio, Tata Motors is drawing up an
aggressive marketing strategy to popularise its recently-launched petrol variant of
Tata Safari.

For starters, Mahindra & Mahindra Ltd has launched a multi-media ad campaign to
promote the new avatar of Scorpio. Created by Interface Communications, the mass
media campaign includes a series of press advertisements and a television
commercial.

As for the rationale behind the relaunch of Scorpio, says Mahindra & Mahindra Ltd
executive vice-president (marketing & sales) Rajesh Jejurikar: “After conducting an
extensive market research (with AC Nielson), we upgraded our existing model with
new features. However, the positioning of the brand will remain the same so the
adline will continue to be the same—‘Nothing Else Will Do.’”

The company plans to focus on press ads to highlight the new features and improved
fuel efficiency of the upgraded version of Scorpio. “To support mass media
advertising, we’ll be hosting roadshows and ground promos. Till now we have sold
over 20,000 Scorpios since we launched this brand. With this improved version, we
will phase out the old brand,” he adds.

In addition, Mahindra & Mahindra has recently launched a nationwide talent search
programme titled ‘Scorpio Speedster With Timex’ in 10 cities across the country.
Through this initiative, the company plans to strengthen Scorpio’s brand positioning
of being a youthful and sporty SUV, says Mr Jejurikar.

Tata Motors is gearing up to launch a new multi-media ad campaign to announce the

new variant of Tata Safari, the petrol version. On Tata Motors new marketing
strategy, says Ogilvy & Mather India clients service director Sharmila Malekar: “To
announce the launch of Tata Safari (petrol variant), we will be launching a multi-
media ad campaign within a month. The new campaign will include, press ads, TVCs
and radio advertising. There will be a new adline too.”

At present, the baseline for Tata Safari is ‘Make Your Own Roads’. In addition to
mass media advertising, the agency will continue to focus on its CRM initiatives such
as the Tata Safari Explorer Club to promote the new avatar of Tata Safari.

In the Indian automobile industry, SUVs today account for only 15 per cent of the
total market unlike western countries where it is almost 80 per cent.

SWOT Analysis of the company

Strengths Weaknesses

Strong market position Dependent on vendors

Strong revenue growth Overdependence on Indian market

Research & Development

Opportunities Threats

Road Development Global competition

Territorial Expansion Government regulations

Car Penetration in India Diesel fuel issues

 SWOT Analysis - Tata Motors Limited
The company began in 1945 and has produced more than 4 million vehicles. Tata
Motors Limited is the largest car producer in India. It manufactures commercial and
passenger vehicles, and employs in excess of 23,000 people.
Strengths :The internationalisation strategy so far has been to keep local
managers in new acquisitions, and to only transplant a couple of senior managers from
India into the new market. The benefit is that Tata has been able to exchange
expertise. For example after the Daewoo acquisition the Indian company leaned work
discipline and how to get the final product 'right first time.'

• The company has a strategy in place for the next stage of its expansion. Not only is
it focusing upon new products and acquisitions, but it also has a programme of
intensive management development in place in order to establish its leaders for
tomorrow.
• The company has had a successful alliance with Italian mass producer Fiat since
2006. This has enhanced the product portfolio for Tata and Fiat in terms of production
and knowledge exchange. For example, the Fiat Palio Style was launched by Tata in
2007, and the companies have an agreement to build a pick-up targeted at Central and
South America.

Weaknesses

• The company's passenger car products are based upon 3rd and 4th generation
platforms, which put Tata Motors Limited at a disadvantage with competing car
manufacturers.
 • Despite buying the Jaguar and Land Rover brands (see opportunities below); Tat
has not got a foothold in the luxury car segment in its domestic, Indian market. Is the
brand associated with commercial vehicles and low-cost passenger cars to the extent
that it has isolated itself from lucrative segments in a more aspiring India?
• One weakness which is often not recognised is that in English the word 'tat' means
rubbish. Would the brand sensitive British consumer ever buy into such a brand?
Maybe not, but they would buy into Fiat, Jaguar and Land Rover (see opportunities
and strengths).

Opportunities

• In the summer of 2008 Tata Motor's announced that it had successfully purchased
the Land Rover and Jaguar brands from Ford Motors for UK £2.3 million. Two of the
World's luxury car brand have been added to its portfolio of brands, and will
undoubtedly off the company the chance to market vehicles in the luxury segments.
• Tata Motors Limited acquired Daewoo Motor's Commercial vehicle business in
2004 for around USD $16 million.
• Nano is the cheapest car in the World - retailing at little more than a motorbike.
Whilst the World is getting ready for greener alternatives to gas-guzzlers, is the Nano
the answer in terms of concept or brand? Incidentally, the new Land Rover and Jaguar
models will cost up to 85 times more than a standard Nano!
• The new global track platform is about to be launched from its Korean (previously
Daewoo) plant. Again, at a time when the World is looking for environmentally
friendly transport alternatives, is now the right time to move into this segment? The
answer to this question (and the one above) is that new and emerging industrial
nations such as India, South Korea and China will have a thirst for low-cost passenger
and commercial vehicles. These are the opportunities. However the company has put
in place a very proactive Corporate Social Responsibility (CSR) committee to address
potential strategies that will make is operations more sustainable.
• The range of Super Milo fuel efficient buses are powered by super-efficient, eco-
friendly engines. The bus has optional organic clutch with booster assist and better air
intakes that will reduce fuel consumption by up to 10%.
 Threats

• Other competing car manufacturers have been in the passenger car business for 40,
50 or more years. Therefore Tata Motors Limited has to catch up in terms of quality
and lean production.
• Sustainability and environmentalism could mean extra costs for this low-cost
producer. This could impact its underpinning competitive advantage. Obviously, as
Tata globalises and buys into other brands this problem could be alleviated.
• Since the company has focused upon the commercial and small vehicle segments,
it has left itself open to competition from overseas companies for the emerging Indian
luxury segments. For example ICICI bank and DaimlerChrysler have invested in a
new Pune-based plant which will build 5000 new Mercedes-Benz per annum. Other
players developing luxury cars targeted at the Indian market include Ford, Honda and
Toyota. In fact the entire Indian market has become a target for other global
competitors including Maruti Udyog, General Motors, Ford and others.
 Recent developments

Tata Motors Limited's Jaguar Unit Reaches Pact With Unions, Saving Jobs-DJ
Dow Jones reported that employee unions have reached a key framework agreement
with Tata Motors Limited owned Jaguar Land Rover (JLR) that would prevent
compulsory job losses in the near future, the Press Trust of India reported, citing a
statement from JLR. The agreement reached safeguards the shopfloor jobs of more
than 800 hourly paid workers and 300 salaried staff at JLR plants at Castle Bromwich,
Solihull and Halewood in the U.K., the PTI said.

Tata Motors Limited And Corporation Bank In Car Finance Joint Venture-
Business Standard
Business Standard reported that Tata Motors Limited has entered into a tie up with
Corporation Bank in order to offer its customers added facility of car financing,
especially for the passenger vehicles segment. The bank has lowered its car loan rates
and will now offer loan up to 85% of the vehicle's on road price for a tenure ranging
up to five years at a rate of 11.75% per annum. The bank will even process the loan
applications within seven days. The facility will be available at all the 1,073 branches
of Corporation Bank and 329 sales touch points of Tata Motors.

Tata Motors Limited May Roll Out Nano On March 3-Business Standard
Business Standard reported that Tata Motors Limited Nano, the small car, is likely to
be launched on March 3. Government officials said the Company had chosen March 3
as the launch date because it is the birth anniversary of Tata Group founder, Jamsetji
Tata. However, the details had not been firmed up.
 Tata Motors Limited Bags INR2,200 Crore Order From DTC-Business
Standard
Business Standard reported that, Tata Motors Limited said that it has bagged
contracts worth INR2,200 crore for supply and maintenance of low floor buses from
the Delhi Transport Corporation (DTC). The Company said it has got orders from
DTC to supply 1,625 ultra low floor buses and their maintenance for 12 years. The
contract comprises about INR900 crore for the 1,625 buses and about INR1,300 crore
for a 12 year maintenance contract for the buses.

Tata Motors Limited Sells INR500 Million Of Commercial Paper-Reuters

Reuters reported that Tata Motors Limited has sold commercial paper worth INR500
million, taking its total short-term debt issuances this month to INR4 billion. It sold
the commercial paper notes, carrying a coupon rate of 10.40% and maturing in May.
The Company had raised INR1.15 billion through commercial paper notes between
September and December in a range of 8.55% to 14%.

Tata Motors Limited's Jaguar Land Rover To Cut 450 Jobs-Reuters

Reuters reported that Jaguar Land Rover announced 450 job losses because of a
severe fall in demand and renewed demands for government help to weather the
economic downturn. The company, part of Tata Motors said it planned to shed about
15% of its managers, some 300 posts and a further 150 salaried agency staff from its
global workforce of about 15,000 people

Five Tata Companies Consider Share Sale To Raise Funds Including Tata
Motors Limited-DJ
 Dow Jones reported that five Tata group companies are considering plans to raise
fresh funds by selling shares when markets improve, the Business Standard daily
reported, citing R. K. Krishna Kumar, executive director of Tata Sons, the group's
primary holding company. Tata Motors Limited, Tata Steel Limited, The Indian
Hotels Company Limited, Tata Tea Limited and Tata Chemicals Limited. are among
the companies considering fundraising, the report said.

Tata Motors Limited To Shut Heavy Vehicle Plant For Three Days-Reuters

Reuters reported that Tata Motors Limited is undertaking a block closure of its
commercial plant in the western Indian city of Pune for three days from December
29.

Tata Motors Limited Raises INR10 Billion Of Debt From LIC-DJ

Dow Jones reported that according to the Mint, Tata Motors Limited raised INR10
billion of debt from Life Insurance Corp. of India in November, to refinance loans that
funded its purchase of Jaguar and Land Rover brands. Tata Motors raised the funds at
an 11% interest rate.

Tata Motors Limited's Jaguar Land Rover In UK Government Talks For

GBP1 Billion Loan-Reuters

Reuters reported that Tata Motors Limited's Jaguar Land Rover is in secret talks
with the UK government over a GBP1 billion ($1.48 billion) loan. Tata is looking to
the UK government for a bridging loan for the next 24 months.

Tata Motors Limited To Shut Jamshedpur Plant For Five Days-Reuters

 Reuters reported that Tata Motors Limited will shut its commercial vehicle plant in
Jamshedpur for five days amid slowing demand. The plant, which had already shut for
three days from November 6, will be closed again from November 25-29.

Tata Motors Limited To Shut Down Lucknow And Pune Plants For Six Days-
Business Standard

Business Standard reported that Tata Motors Limited will shut down its commercial
vehicle plants in Pune and Lucknow for six days during this month due to slump in
demand. There will be a block closure of commercial vehicle plant in Lucknow on
November 10- November 15 and that of Pune from November 21- November 26.

Tata Motors Limited And Mahindra & Mahindra Limited Interested In

General Motors Corporation's Hummer-Reuters

Reuters reported that General Motors Corporation will send out a sales prospectus
for Hummer to possible bidders in the next few days, and Tata Motors Limited and
Mahindra & Mahindra Limited are among those who will take a look at the asset.

Tata Motors Limited Rights Issue Short Of Target, Plans To Sell Stakes In
Unit-Reuters

Reuters reported that Tata Motors Limited was unable to cover its 41.5 billion
rupees ($850 million) rights issues after its share price fell well below the offer prices.
The two simultaneous but unlinked rights offerings, which were pared down from a
planned three issues worth INR72 billion. The Company offered one ordinary share at
INR340 for every six held to raise INR21.9 billion. It also offered one A ordinary
share, which has different voting and dividend rights, at INR305, for every six shares
held. The Company also announced that it was looking to sell stakes in some units to
fund the deal.

Recent developments in Tata Motors's Nano project at Singur

Nobel laureate, Prof. Amartya Sen speaking recently in a function at Kolkata, has
expressed his dismay over the recent developments in Singur, the small car project of
Tata Motors:

Industrialization is a must for development......It can't be attained only by

agriculture. You will not be able to show me one developed country that has
reached there focusing solely on agriculture. If the Tata factory can't come up in
Singur it will be bad news for West Bengal's development. Concerned parties
should try to resolve the matter through talks.

There are valid reasons for Prof. Sen to be worried. Mamata Banerjee is again back
in business. After her euphoric performance in the Panchayat polls, she and her party
has now publicly vowed to disrupt the small car project of Tata by all means. Mamata
Banerjee's enthusiastic party workers has started to force out the workers and
employees coming to work at the Nano plant in Singur. They are on their job to build-
up an fitting ground for their beloved ‘Mamatadidi' who had announced to join them
from 24th August for an indefinite ‘peaceful' dharna at the factory site. Her word in
fact is a stringent warning that she with her party workers are on their way to
confiscate the ongoing project. Her demand: the state government (read CPIM) must
"return 400 acres of land forcibly acquired from unwilling poor farmers".

At present, the gory Trinamool party workers are ground preparing for the ‘peaceful'
dharna in the following sequential order:

1. Posters are spread all around the Tata Motors plant locale by the workers of
Trinamool backed Save Farmland Committee (BUPC) warning dire consequences to
the workers and employees who had come from outside to work at the factory site and
diktat them to leave Singur immediately,

2. BUPC men blew up crude bombs at Singur railway station,

3. Bombs are thrown at Mainak Lodge, a temporary residence of some workers of

Tata Motors,

4. BUPC men stopped a trekker carrying workers to the factory site, slapped the
passengers, and ordered them to leave,

5. Verbal abuse were hurled at Tata Motors workers; some are beaten up when they
went to the local bazaars to buy stuff to cook meals,

6. An engineer Manish Khatua, working at the Tata Motors project site was
assaulted by BUPC men and later hospitalized. Convener of BUPC, Becharam
Manna, was elated to assert that beating up the engineer was a good job done.

Terrified workers fearing their life have started to leave Singur for safer homes. As
per local media reports, there were less attendance registered at the plant site after the
incidences. Rabindranath Bhattacharya, the local Trinamul Congress MLA affirmed,
"Many workers have left the small-car project site. We will drive away the rest."
 Present positions

Tata Motors has reported a total sale of 3,14,256 vehicles (including exports) for the
fiscal year 2003-04, a growth of 42.9 per cent over the 2,19,865 vehicles sold in the
corresponding period last year. These are the highest-ever figures achieved by the
company in a fiscal year. The total sales for the month of March this year were 34,714
units, an increase of 26 per cent over the 27,547 units sold in March 2003.

Commercial vehicles
The company sold 17,803 vehicles in March 2004, an increase of 51.2 per cent over
11,772 vehicles sold in March last year. Both medium and heavy commercial vehicles
(M&HCV) and light commercial vehicles (LCV) showed a robust growth, recording
sales of 12,279 and 5,524 vehicles respectively. Tata Motors reported cumulative
sales of 1,52,282 vehicles in the domestic market during the fiscal, representing an
increase of 43.7 per cent over the 1,05,960 vehicles sold in last fiscal.

The company sold 10,810 M&HCV trucks in March this year, a gain of 62.8 per
cent over 6,637 vehicles sold in March 2003. Cumulative sales of M&HCV trucks
stood at 89,705 vehicles, an increase of 39.8 per cent. LCV sales in March 2004 were
5,524 units, an increase of 51.6 per cent over March sales last year. The company sold
49,026 LCV's this fiscal, representing a growth of 50.8 per cent over the 32,510
vehicles sold last year.

Passenger vehicles
The company registered its highest sales in the domestic market in the month of
March with a sale of 15,065 passenger vehicles. Cumulative sales of 1,40,023
vehicles, grew by 34.4 per cent and are the highest-ever for the business in its fifth
financial year. All four Tata models recorded significant gains in their segments. The
company retained its position as the second largest player in terms of sales in the
domestic market.

The Indica and Indigo registered a sale of 11,110 vehicles in March. Cumulative
sales of the Indica and the Indigo stood at 1,08,169 cars for the fiscal - a growth of
36.3 per cent. The Indigo continues to hold the leadership position in its segment for
the period. The year also saw the cumulative sales of the Indica cross the 3,17,000
sales mark, since its launch. In the utility vehicle segment, the company had its best
year in six years and the third best-ever with a sale of 31,854 vehicles. Sumo and
Safari sales grew at the rate of 28.2 per cent. March sales, at 3,955 vehicles, were the
highest for any month in the last six years. The Sumo emerged as the best seller in the
utility vehicle segment in each of the three months of the January-March quarter and
retained its position as the second largest selling model in the segment for the fiscal.
The Safari registered its second-best yearly sales since its launch in 1998, and is
currently the largest selling sports utility vehicle in the Rs 7 lakh plus price band.

Exports
Export sales for the month of March 2004 were 1,846 vehicles, an increase of 31.1 per
cent over the 1,408 vehicles exported in March last year. The cumulative export sales
for the year 2003-04 were 21,951 vehicles, an increase of 126.2 per cent over the
9,704 vehicles sold last year.

1. Fan-TAS-tic fifty
Every year TAS picks the best and brightest from the top management schools in
India and grooms them to become leaders through structured development
programmes. As TAS enters its 51st year, we take a look at this unique programme

2. The workplace of the future

Fresh winds are already blowing through offices, heralding the shape of things to
come. In this comprehensive feature, Satish Pradhan, Group HR, paints the future
workplace in macro strokes, while S Padmanabhan, TCS, Dr Sangram Tambe, Tata
Motors and Yogi Sriram, Indian Hotels, delineate the details
 3. U-turn to success
His table in the corner office on the first floor of Bombay House is full of papers,
giving it an almost disheveled look. But the man who occupies that table - Ravi Kant,
managing director of Tata...

4. The heart of business excellence

Sunil Sinha, the chief operating officer of Tata Quality Management Systems, on the
leadership imperatives for companies facing today's multiple challenges

5. Sovereign splendour
The legendary Taj hospitality forms the core competence for Indian Hotels while the
key focus areas are renovation, brand building, technology and people training

Future trends

Powered by a pioneering spirit and a chain of constant innovations for over 50 years,
Tata Motors Limited (TML) has redefined the art of building motor vehicles. Today,
Tata Motors Limited is the sixth largest medium and heavy commercial vehicle
manufacturer in the world, with a significant presence in Asia, Europe, Africa and
Latin America.

Partnering with excellence

World-class auto components are the backbone of all world-class vehicles. Keeping
this in mind, Tata Motors Limited has collaborated with major players in the Auto
Industry. The Joint Venture with Cummins, associations with companies like Johnson
Controls, Toyo Radiators, Chuo Springs, Ficosa, Yazaki, Yutaka-Giken, Sungwoo
Hitech, Owens Coring, Knorr-Bremse, Farurecia and Menzolit Fibron, reaffirm Tata
Motors commitment to delivering higher productivity and profitability to the
transportation industry.

Steering a global path:

Tata Motors Limited marked its emergence as a strong multi-national player with the
acquisition of the Daewoo Commercial Vehicles Plant in March 2004. The robotized
factory at Gunsan in South Korea, bus-body manufacturing plants in Ukraine and
South Africa and assembly plants in Bangladesh and Malaysia, are testimony to the
strong presence of Tata Motors Limited across the world.

The Company also gained enhanced credibility as a global powerhouse when the
Government of Senegal approached Tata Motors Limited for technological assistance
in setting up a bus-body plant at Thies.

Tata Motors Limited - Moving India

Right from the earliest trucks that helped move goods around the country, to chassis
for buses that virtually form the backbone of the Indian public transport system today,
Tata vehicles have, quite literally, moved the nation ahead. Tata Motors is India's only
fully integrated automobile manufacturer with a portfolio that covers trucks, buses,
utility vehicles and passenger cars. With over 3 million Tata vehicles on the road, the
company can truly be called the ?Wheels of the Nation?.

1. Tata plans Safari-Sumo crossover, new Indigo

After unveiling the next generation Indica, Tata Motors is planning to roll out
the next generation variant of Indigo and a new cross-over vehicle between the Safari
and Sumo. "We will be unveiling...

2. All right turns

 Tata Motors' transformation from an India-centric truck maker to a global auto
company is a remarkable story of visionary leadership, determination and thinking big

3. The workplace of the future

Fresh winds are already blowing through offices, heralding the shape of things to
come. In this comprehensive feature, Satish Pradhan, Group HR, paints the future
workplace in macro strokes, while S Padmanabhan, TCS, Dr Sangram Tambe, Tata
Motors and Yogi Sriram, Indian Hotels, delineate the details

4. Full speed ahead

It's been a year of accolades for Tata Motors CVBU. Not only did the division win
the coveted JRD QV Award, the pinnacle of excellence in the Tata Group, it has also
received the prestigious CII-Exim Bank Award for Business Excellence

5. On the stairway to success

Telcon, Tata Motors PCBU and Tata Refractoriness broke into the 500+ league to
win Active Promotion Awards, while the Luxury Division of Indian Hotels improved
its score dramatically to get the Highest Delta Award

6. All in a day's work

Employee empowerment is the latest buzzword in business and a variety of Tata
companies are working overtime to place their people in the driver's seat

7. Sovereign splendor
The legendary Taj hospitality forms the core competence for Indian Hotels while the
key focus areas are renovation, brand building, technology and people training

8. Stealing the show

 Tata Steel uses some of the world's best practices in operations, business processes
and marketing and has sought the best benchmarks for management, manufacturing
excellence, operating practices, training, branding and customer and retail value

9. We will like to better Daewoo HCV mart share, says Ravi Kant
Tata Motors linked an investment agreement in February to acquire the South
Korean truck-major...

10. Reinventing Tata Motors

Some time back, the president of the renowned Switzerland-based International
Institute for Management Development...

11. What injures the hive injures the bee

R Gopalakrishnan* shares his views on the three Ps of business: productivity,
progress and people, and the importance of managing each well

12. The value of research

Long before information technology became a way of life with Indian businesses,
one organisation, Tata Consultancy Services, had already stationed itself in the
forefront of research and development

13. Tata Honeywell outsources complete IT infrastructure management from Tata

Consultancy Services
Pune: Tata Consultancy Services (TCS), Asia’s largest software and services
consulting organisation, has announced a strategic agreement with Tata Honeywell
Limited (THL), the leader in Indian...
 RATAN TATA
C.E.O
TATA MOTORS LIMITED

RAVI KANTH
MANAGING DIRECTOR
TATA MOTORS LIMITED
FUTURE TRENDS