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Tata Motors Partners Jayem for Special Performance Vehicles
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Tata Motors Ltd has announced a new 50-50 joint venture, JT Special Vehicles Pvt. Ltd., with Jayem Automotives Pvt. Ltd. to develop special performance vehicles based on the latest series products.
Both companies will work to improve the performance and appearance of the series of vehicles, offering a niche range of passenger cars to customers. This partnership comes amid Tata Motors’ attempt at transformation by fundamentally reshaping the business, including cost management, introduction of new technology and structural improvements.
Jayem is well recognized for its potential in concept creation and prototyping of special performance vehicles. This will help Tata Motors provide its customers with new and innovative variants to its existing product range. Through this joint venture, Jayem aims to enlist the help of Tata Motors to develop more sports cars with world class performance.
The joint venture will develop the cars in a phased manner, with all stages of development carried out in the same facility. The plant will be constructed in a manner to reduce assembly line complexity and build agile and efficient special performance vehicles.
Tata Motors’ passenger vehicles, cumulative sales in the domestic market rose 22% year over year in March, while the cumulative sales of commercial vehicles fell 1%. Cumulative sales from exports in the month went up 11% year over year. Overall, Tata Motors saw its total sales increase 6% year over year to 542,561 units in March.
Price Performance
Over the last three months, Tata Motors has outperformed the Zacks categorized Automotive - Foreign industry. The company’s shares fell 2.6% while the industry saw a 6.2% decrease. The share performance is supported by the company’s transformational initiatives, new ventures and healthy sales.
Zacks Rank & Key Picks
Tata Motors, carrying a Zacks Rank #3 (Hold), is one of the leading automotive manufacturers in India. The company also has operations in the U.K., South Korea, Thailand, South Africa and Indonesia.
Some better-ranked auto stocks include Allison Transmission Holdings Inc. (ALSN - Free Report) , Group 1 Automotive, Inc. (GPI - Free Report) and Rush Enterprises, Inc. (RUSHA - Free Report) .
Allison Transmission, sporting a Zacks Rank #1 (Strong Buy), an expected has long-term growth rate of 11%.
Group 1 Automotive has a long-term expected growth rate of 7%. The company holds a Zacks Rank #2 (Buy).
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Tata Motors Partners Jayem for Special Performance Vehicles
Tata Motors Ltd has announced a new 50-50 joint venture, JT Special Vehicles Pvt. Ltd., with Jayem Automotives Pvt. Ltd. to develop special performance vehicles based on the latest series products.
Both companies will work to improve the performance and appearance of the series of vehicles, offering a niche range of passenger cars to customers. This partnership comes amid Tata Motors’ attempt at transformation by fundamentally reshaping the business, including cost management, introduction of new technology and structural improvements.
Jayem is well recognized for its potential in concept creation and prototyping of special performance vehicles. This will help Tata Motors provide its customers with new and innovative variants to its existing product range. Through this joint venture, Jayem aims to enlist the help of Tata Motors to develop more sports cars with world class performance.
The joint venture will develop the cars in a phased manner, with all stages of development carried out in the same facility. The plant will be constructed in a manner to reduce assembly line complexity and build agile and efficient special performance vehicles.
Tata Motors’ passenger vehicles, cumulative sales in the domestic market rose 22% year over year in March, while the cumulative sales of commercial vehicles fell 1%. Cumulative sales from exports in the month went up 11% year over year. Overall, Tata Motors saw its total sales increase 6% year over year to 542,561 units in March.
Price Performance
Over the last three months, Tata Motors has outperformed the Zacks categorized Automotive - Foreign industry. The company’s shares fell 2.6% while the industry saw a 6.2% decrease. The share performance is supported by the company’s transformational initiatives, new ventures and healthy sales.
Zacks Rank & Key Picks
Tata Motors, carrying a Zacks Rank #3 (Hold), is one of the leading automotive manufacturers in India. The company also has operations in the U.K., South Korea, Thailand, South Africa and Indonesia.
Some better-ranked auto stocks include Allison Transmission Holdings Inc. (ALSN - Free Report) , Group 1 Automotive, Inc. (GPI - Free Report) and Rush Enterprises, Inc. (RUSHA - Free Report) .
Allison Transmission, sporting a Zacks Rank #1 (Strong Buy), an expected has long-term growth rate of 11%.
Rush Enterprises, carrying a Zacks Rank #1, has a long-term expected growth rate of 15%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Group 1 Automotive has a long-term expected growth rate of 7%. The company holds a Zacks Rank #2 (Buy).
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>