Also, the latest news coming from the Geneva Auto show is that Tata Motors is planning to make hybrid cars. The company is currently in talks with Ballard Power Systems (NASDAQ:BLDP) which makes Fuel Cells.
The company also showed the Tata Elegante (below) at the Geneva Auto Show.
Tata Motors sales numbers for the month of February:
• Total Vehicle sales were 53,707 - 19% YoY
• Commercial vehicles: 27,859 - 22% YoY
• Passenger vehicles: 21,322 - 19% YoY
• Exports grew by only 6% YoY to 4,526 vehicles
The February numbers don’t look great as far as the growth is concerned but this stock remains very intriguing at this point. It’s currently trading at about $17.50 and might have more downside if the weakness in the Indian financial markets continues to push Indian ADRs down. It’s a good company in a booming auto market with a 1.6% dividend and a low P/E. I am keeping an eye on this to possibly start a position in the near future.
Disclosure: I have no positions in TTM or BLDP.