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the north face outlet uk Tata Daewoo posts higher profits
by / Wednesday, 25 November 2015 / Published in Latest posts
Tata Daewoo posts higher profits
The company also increased its market share in both the heavy and medium commercial vehicle segment during the year, according to the 2007 08 annual report of Tata Motors.The annual report says that Tata Motors subsidiaries have significantly improved their financial performance during 2007 08. Tata Motors acquired Daewoo Commercial Vehicle Company in March 2004 for Rs 495 crore.According to the annual report, Tata Daewoo Commercial Vehicle Co (TDCV) increased sales by 38 per cent to 11,899 units in 2007 08, against 8,588 units sold in the previous year. Consequently, the company increased its market share to 32.3 per cent from 24.3 per cent in the heavy commercial vehicle segment and to 34.8 per cent from 28.2 per cent in the medium commercial vehicle segment.TDCV exported 3,000 units of HCVs (2,715 in the previous year) and continued to be the largest exporter from Korea in this segment.The company sold 7,698 machines during the year against 5,360 machines in 2006 07. is 60 per cent owned by Tata Motors and the balance by Hitachi Construction Machinery Co Ltd, Japan.The annual report shows that Tata Motors has 26 subsidiaries, with some of them having just begun operations. Eleven of the subsidiaries have shown a loss for the year and five of them have declared a dividend for the year.Tata Motors bought a 21 per cent stake for Rs 70 crore in March 2005 and has the option to buy the remaining 79 per cent at a price not exceeding million (about Rs 14 crore).Hispano has two manufacturing units, one in Spain that caters to the European market and the other in Casablanca, which caters to the Moroccan and other North African markets.