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Don't Want GM? Try This Auto Giant
Posted On Tuesday, November 30, 2010 at at 11:54 AM by Finance Fanatic
GM has recently been stealing the spotlight from many other auto companies. Auto sales seemed to have endured rather well, especially this past year. Though many mainstream auto companies don't interest me that much at this time, there is an emerging auto company that is making a lot of noise.
India has 12 cars per thousand people, which seems like nothing when compared to the US's number of 842 cars per thousand. For India, this number is rapidly growing every year and has plenty of room to keep growing.
Tata Motors (TTM) (yes, I'm sure there were many who giggled at the name) is the largest Automobile maker in India, building buses, tractors, trucks, and passenger cars. The company owns 60% of India's marketshare and has a rather strong buying pool outside of the country as well.
In 2009, TTM stock returned over 281% to its investors and in 2010, the stock is up over 90% so far. Indeed, as is the case with many emerging markets, the stock is very volatile, but when looking at the chart (above), you can see the MACD is leveling out and should be due for yet another jump in price, if the recent trend continues. With the US economy still questionable at this point, India is not a bad place to look for some alternatives.
