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12 December 2017 15:54 (South Africa)

Tata ma millions of dollars

tata-nano1

The world's 16th biggest car manufacturer, Tata Motors, announced on Monday that its quarterly profit had more than doubled compared to last year. Thanks to increased demand in India, as well as falling commodity prices, it managed to earn a profit of almost $160 million on more than $1.7 billion. The picture may not be so rosy in the near future, though: the results do not include the company's latest acquisitions, Jaguar and Land Rover, which are expected to lose money for the foreseeable future. It was also hit by the news of the probable recall of the Tata Nano, the ultra-cheap model (slightly more than $2,100 in its bare-bones version) after a few of them caught fire in India. The company has since replaced the supplier of the faulty switch blamed for the fires, but it is nevertheless a PR disaster. Read more: BBC

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