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Tata Motors see's Recovery in Global Auto Market

August 26, 2009 – Comments (1) | RELATED TICKERS: TTM

Tata Motors: Signs of Global Auto Market Recovery

(Remember when Citi said it saw recovery in March? All bank stocks soared right after. I am wondering if this will cause an Auto industry rally or just TTM specific rally?)

MUMBAI -- Tata Motors Ltd., which controls U.K.-based Jaguar and Land Rover, is seeing signs of a recovery in the global automotive market, Chairman Ratan Tata said Tuesday.

"We are seeing signs of a recovery, but we will have to work hard to make this happen," Mr. Tata said at an annual shareholders' meeting. "There have been some encouraging signs on JLR. There are some products still to come."

Tata Motors, maker of the Nano - the world's cheapest car - acquired Jaguar and Land Rover luxury marquees for $2.3 billion from Ford Motor Co. last year.