Tata Motors – India's top vehicle maker and part of the group which owns Jaguar and Land Rover – saw first-quarter profit drop 30 per cent, as expected, on foreign exchange losses and rising input costs, and said margins would remain under pressure. Tata Motors, due to launch the world's cheapest car, the Nano, in October, will seek to protect margins through cost reductions, price increases and more financing options for vehicle purchases, managing director Ravi Kant said. "Undoubtedly, for the industry this will perhaps be the most challenging year," he added.