The vehicle offers low cost of operation, driver comfort, durability as well as power steering, said Ravi Pisharody, Commercial Vehicle Business Executive Director, Tata Motors Ltd.
Automobile major Tata Motors today launched its Ultra trucks range, aiming to garner more share in the intermediate and light commercial vehicle segment.
The vehicle offers low cost of operation, driver comfort, durability as well as power steering, said Ravi Pisharody, Commercial Vehicle Business Executive Director, Tata Motors Ltd.
"The two multi-axle trucks launched today. Tata Motors Ultra 812 and 912 series have the same engine, front disc transmission and tubeless radial tyres," he said.
The base variant of Ultra 812 is priced at Rs 10.53 lakh and the Ultra 912 at Rs 10.94 lakh (both ex-showroom, Chennai), he said.
The company had displayed the two products at Auto Expo 2012, he added.
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"(With these products) We are not only looking at serving Indian but also global markets," he said, adding that the company would begin exports of these trucks by the end of the current financial year.
Pisharody said the company was exporting 50,000 units and had set a target of 1,50,000 units over the next three years. It was shipping commercial vehicle to South Asia, Africa, Indonesia, Malaysia, Philippines and Vietnam, he added.
Asked about investments, he said the company has earmarked Rs 1,300 crore annually for the commercial vehicle segment and about Rs 800 crore has been invested in manufacturing the Ultra range of trucks.
"We have been investing about Rs 1,200 to Rs 1,300 crore every year. We have been developing this concept over 3-4 years and about Rs 800 crore was invested," he said.
Replying to a query on whether the company would need an additional assembly line following the launch, he said the company manufactures the vehicles at its Pune plant and the existing capacity is enough to produce the vehicles.
Tata Motors stock price
On May 16, 2014, Tata Motors closed at Rs 451.00, up Rs 11.70, or 2.66 percent. The 52-week high of the share was Rs 464.20 and the 52-week low was Rs 263.10.
The company's trailing 12-month (TTM) EPS was at Rs 2.61 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 172.8. The latest book value of the company is Rs 59.47 per share. At current value, the price-to-book value of the company is 7.58.
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