Tata Motors Ltd., India’s biggest automaker, posted profit that beat analyst estimates as sales at its Jaguar Land Rover unit jumped, even as executives predicted a slump for trucks and cars at home. The shares climbed.
Emerging-market stocks dropped the most in almost seven months amid concern a slowdown in the Chinese economy will curb global growth. Russia’s ruble breached the upper boundary of Bank Rossii’s target corridor.
Karl Slym, managing director of Tata Motors Ltd., said he’s planning to build a diesel version of the world’s cheapest car this year to revive vehicle sales, which have dropped for three straight quarters in India.
General Motors Co.’s India unit plans to introduce light trucks developed in China by the end of 2011 as economic development and expanding cities spur road haulage in the world’s second-most populous nation.
Two weeks into his new role, Karl Slym, managing director of Tata Motors Ltd. plans to scrap models and change perceptions about quality as India’s biggest automaker struggles to stem losses in market share.
Can a car be too cheap? Tata Motors Ltd. is hinting at pricier models based on the Nano, the $2,000 compact it introduced with great fanfare in 2008. The reason: Few buyers wanted a vehicle that was primarily pitched as an inexpensive alternative to a motor scooter.