Key Trends In The Commercial Vehicle Market Impacting Tata's Domestic Volumes

Tata Motors, a subsidiary of the Tata Group, is the largest Indian vehicle manufacturer. Tata’s business has been divided into three segments: Tata and Other Brand Vehicles, Jaguar, and Land Rover. Tata and other brand vehicles constitute less than 5% of the company’s valuation by our estimates. This is mainly due to relatively low revenue per vehicle for this segment and heftier margins for Jaguar and Land Rover. In addition, sales have been declining for Tata branded vehicles, hurt by low ...