rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Market slide a cause of concern, says Mistry

Market slide a cause of concern, says Mistry

August 01, 2014 15:17 IST

Market slide a cause of concern, says Mistry

     Next

Next
Swaraj Baggonkar in Mumbai

Shareholders of Tata Motors raised the alarming slide in car and truck market shares repeatedly at the company’s 69th annual general meeting held in Mumbai on Thursday.

Tata Motors’ shareholders were disappointed that Maruti Suzuki, Hyundai and Mahindra & Mahindra had cruised past in all automobile segments created by the Mumbai-based company.

Please click NEXT to read further. . .


Image: Tata Nano.
Photographs: Courtesy, Tata Motors
Tags:

     Next

Market slide a cause of concern, says Mistry

Prev     Next
Prev

Next

Cyrus Mistry in his second appearance as chairman of Tata Motors tried to reassure shareholders that steps were being taken to regain market share in both cars and trucks.

“A lot of work needs to be done.

“This year is also going to be challenging.

“The last couple of years we saw the highest intensity of launches from the competition.

Tata Motors had to go through a process of transformation.

Please click NEXT to read further. . .

 

 


Image: Tata Motors.
Photographs: Tata Motors logos are pictured outside their flagship showroom in Mumbai.

Prev     Next

Market slide a cause of concern, says Mistry

Prev     Next
Prev

Next

“We have to bring up the game up to a certain level,” Mistry said.

Shareholders pointed out that Tata Motors’ Sierra, Safari, Indica, Nano, Ace and the 407 truck were all innovative products for the Indian automobile industry.

However, without adequate marketing, the competition had raced past Tata Motors.

The company’s share of the car market has dropped below seven per cent and it has 53 per cent of the truck market.

Please click NEXT to read further. . .


Image: A Tata Motors factory.
Photographs: Reuters

Prev     Next

Market slide a cause of concern, says Mistry

Prev     More
Prev

More

Mistry added the launch of Zest and Bolt, a sedan and a hatchback, in August was aimed at reclaiming some of the lost share.

There will be launches in the truck and bus segments too.

Despite the slowdown, Tata Motors will not reduce expenditure on research and development.

Mistry said the company would spend around Rs 3,500 crore (Rs 35 billion) on research this year.

Highlighting the need to reduce the number of Tata Motors’ subsidiaries, Mistry said, “I agree that we should rationalise and take stock of the number of subsidiaries we have. “These are companies that were set up for different reasons. We need to revisit them.”


Image: A visitor speaks on his mobile phone in front of Tata Motors' Kestrel, an armoured personnel carrier, at a defence exhibition in New Delhi.
Photographs: Anindito Mukherjee/Reuters

Prev     More
Source: