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Home » News » Business

May 06, 2005, 10.06 AM | Source: Moneycontrol.com

Tata Motors launches mini truck, Tata Ace

Tata Motors has launched its indigenously built mini truck called Tata Ace. The company is bullish that the new Tata Ace will lead the market space by selling 30,000 units this year.

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Tata Motors launches mini truck, Tata Ace

Tata Motors has launched its indigenously built mini truck called Tata Ace. The company is bullish that the new Tata Ace will lead the market space by selling 30,000 units this year.

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After indigenously building the passenger car Indica, Tata Motors has now launched its indigenously built mini truck. And the company is bullish that the new Tata Ace will lead the market space by selling 30,000 units this year, reports CNBC-TV18.

This sub- 1-ton, diesel, 4-wheeler is Tata's newest kid on the block. Built with an investment of Rs 180 crore (Rs 1.80 billion), Tata Motors is aiming to pitch this as a last-mile connector in a distribution chain. Tata says the evolution of highways and the Pradhan Mantri Gramin Sadak Yojna, which is improving the network of roads in rural areas will act as catalysts for the sales of this product.

Ravi Kant, ED - Commercial Vehicles Business, Tata Motors, said, “This is a vehicle, which will take the distribution right to the end of the consuming place that is the village. So, I think it is going to play a great role in the entire logistics and distribution system in the country.”

The Ace is expected to deliver a mileage of 18-20 km per litre and can travel at a maximum speed of 65 kmph. Company sources peg its price at between Rs 2.2-2.5 lakh. Kant admits that the growth rate of commercial vehicles will slow down this year after a three year upside and that the Ace is a move to make amends there.

He said, “It's a cyclical business. So, what we're trying to do is, de-risk the model of cyclicality by getting into new segments and new geographies.”

Kant is bullish on the export market for all its products. The company expects to penetrate markets like Russia, Turkey, Congo and countries in North and West Africa like Malay besides having a strong foothold in Senegal and South Africa. It pegs its Korean market at Rs 2,000 crore (Rs 20 billion) and says it will introduce the Daewoo vehicles soon in India.

 

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Tata Motors stock price

On February 05, 2016, Tata Motors closed at Rs 337.25, up Rs 11.30, or 3.47 percent. The 52-week high of the share was Rs 596.46 and the 52-week low was Rs 279.15.


The latest book value of the company is Rs 78.55 per share. At current value, the price-to-book value of the company was 4.29.

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