India's Tata Motors not looking for acquisitions

Reuters (New Delhi) – India’s Tata Motors is not on the hunt for any acquisitions of car brands, such as bankrupt Swedish car maker Saab, Chairman Ratan Tata said on Thursday.

‘We have no plans to shop around, nor do we have any specific brands that we want to acquire,’ Tata told a media briefing.

He said the company did not adequately follow up on the launch of the Nano, the world’s cheapest car, when the first 100,000 of them were sold in 2009. Nano sales have not lived up to expectations.

‘I don’t think we were adequately ready with an advertising campaign, a dealer network,’ he said.