A pickup in freight rates, rising fleet utilisation and a long-awaited replacement cycle are breathing fresh life into India's commercial vehicle (CV) market, strengthening the investment case for Tata Motors' CV arm (TMCV). Despite a broadly steady December quarter (Q3) performance, brokerages remain divided on whether the upswing is strong enough to offset margin pressures.
All eyes are now on November 25, when all the specs, varians and pricing will be made known.
Backed by strong demand for Indian vehicles from markets such as South Africa, Tata Motors has exported more than 50,000 vehicles during 2005-06 showing a growth of over 65 per cent over the previous year.
Homegrown auto major Tata Motors on Tuesday said it will raise $1 billion (Rs 7,500 crore) in its passenger electric vehicle business from TPG Rise Climate at a valuation of up to $9.1 billion. Tata Motors Ltd (TML) and TPG Rise Climate, the dedicated climate investing strategy of private investment firm TPG, have entered into a binding agreement in this regard. Under the agreement, TPG Rise Climate along with its co-investor ADQ, will invest in a subsidiary of Tata Motors that will be newly incorporated, the company said in a statement.
Tata Motors Ltd said on Thursday that it sold a total of 26,862 vehicles in October 2003 compared to 19,306 units during the same month of the previous fiscal, an increase of 39 per cent.
Tata Motors has identified over a dozen overseas markets to sell commercial vehicles by either setting up manufacturing units, assembly lines or tying up with dealers in those countries, a top company official said.
Three disappointing experiences with Tata companies made me question whether the group's historic values of customer focus and accountability are slowly fading, notes Dr N Ravichandran.
BMW is over-capitalised and is awash with cash and it could quickly lower JLR's investment costs and raise margins by leveraging its own platforms, powertrains, purchasing scale and quality control.
The commercial vehicle business is one of the mainstays for the Tata group, highlighting the importance of Girish Wagh's appointment.
Every year, carmakers announce at the end of November or December their plans to increase prices of their vehicles by January.
'We want to be number three by 2018 and every month we are moving closer to that ambition.'
The price reduction across passenger vehicles is in the range of Rs 6,300 to Rs 69,000.
The company believes there is a shift in consumer demand, more buyers could opt for Skoda in future
Nissan Motor India aims to achieve a fourfold increase in domestic sales, targeting 100,000 units annually, and export another 100,000 vehicles from its Chennai plant by financial year 2027-28 (FY28), marking a significant revival of its presence in the Indian passenger vehicle market.
Guenter Butschek will start his new job by Feb. 15
To deliver on strategy that late Slym was executing.
The chairmanship of Tata Motors and Tata Steel after Ratan N Tata steps down at the end of 2012 appears to be an open question. It will be up to the new Tata group chairman, Cyrus Mistry, whether he decides to succeed Tata in heading two of the largest group companies or opt for new chairpersons for them.
Tata Motors is looking to increase passenger vehicle prices from next month in order to make its model range compliant with stricter emission norms which kick in from April 1 next year, according to a top company official. In an interaction with PTI, Tata Motors Managing Director - Passenger Vehicle and Electric Vehicles Shailesh Chandra said the price revision would also offset the impact of commodity prices, which have remained high for the most part of the year. "The regulatory change will have its impact on the cost. Even the real impact of softening of commodity prices is only going to come from next quarter and we still have the residual impact of the commodity escalation that we have seen during the year," Chandra said.
Ratan Tata-led Tata Motors on Thursday said that it plans to expand its commercial vehicles business in India and would launch a few more models by this year-end.
'Battery electric, hydrogen fuel cell and hydrogen ICE, could be the three technologies which have the potential of being zero emission and that are what we will have to work on,'
Block closure in the Jamshedpur plant is the second in a fortnight.
Auto major Tata Motors on Monday said it appointed Carl-Peter Forster as the new group chief executive of the company.
Powered by Ziptron technology, the electric SUV for the personal segment comes with a range of 312 km on a single charge and a high voltage system, fast charging capability, extended battery life and class leading safety features. Besides, it has 35 connected car features as well. The Nexon EV will be available in three trim levels across 60 authorised dealerships in 22 cities, the company said at the launch.
Tata Motors has seen strong upgrades in volume, top line and profit estimates, after reporting an unexpectedly superlative quarterly global volume performance for Jaguar Land Rover (JLR). It was led by strong demand for the Evoque SUV from the Land Rover stable.
The company's wholly-owned subsidiary PT Tata Motors Distribusi Indonesia has introduced Tata Aria, Tata Vista and Tata Safari Storme in the Indonesian market.
The scheme has been extended to all categories of employees.
Tata Motors enters Pakistan through Korean subsidiary Tata Motors, India's largest automobile firm, announced on Friday its entry in Pakistan through its subsidiary Tata Daewoo Commercial Vehicle Co.
While this is a thoroughly modern SUV, the soul of the original '90s icon lingers.
The Tatas sold over 14,466 Indica cars, which was slightly lower than the sales of 14,592 units of the Santro hatchback in January.
He seems to have fallen from a higher floor of a hotel in Bangkok.
Tata Motors group's investment for this fiscal is pegged at Rs 28,900 crore, mostly for its British arm Jaguar Land Rover (JLR), company chairman N Chandrasekaran said on Friday. The company will also look to raise capital separately for its electric vehicles (EV) business at an appropriate time. It is looking to have 25 per cent of its sales coming from EVs in the medium to long term, up from 2 per cent at present, he said while addressing the company's virtual AGM.
Tata Motors, however, did not elaborate on the various programmes that have been initiated with JLR and other subsidiaries.
Thanks to the turnaround in JLR's performance, the stock has been the best performer in the large cap auto segment.
The Tata Sons board has deferred a decision on the re-appointment of Natarajan Chandrasekaran as Chairman, signaling potential differences within the group. Concerns were raised about losses in certain group companies and the listing of Tata Sons.
Total passenger vehicle sales in the domestic market stood at 18,031 units in November.
The issue comprising 'A' ordinary shares aggregating $550 million and ordinary shares aggregating $200 million has been subscribed 3.4 times, Tata Motors said in a filing to the Bombay Stock Exchange.
Tata Motors on Wednesday questioned the modus operandi of West Bengal government in taking possession of the land allocated to it for its small car project Nano in Singur saying all important decisions in this regard were being taken at "night" or "midnight".
While the Tatas had a lease over 645 acres of land, the rest was for ancillary industries and other purposes.
India's outward foreign direct investment (FDI) saw a significant increase of 27.5 per cent, reaching $7.06 billion in March, primarily driven by a sharp rise in guarantees for overseas units, according to the Reserve Bank of India.
