Tata Motors, which bought Jaguar and Land Rover, said it will reconsider its plan to raise as much as $600 million from overseas markets due to the global credit crisis. The decision also follows a 34 per cent drop in the company's second-quarter profit owing to foreign currency losses and slowing sales.
Tata Motors on Friday reported an 84 per cent jump in its global sales at 74,707 units for December 2008, compared to the corresponding month in 2008. The company also posted 137 per cent surge in the sale of its commercial vehicles at 37,326 units in December 2009, it said in a statement. During the month under review, it sold 16,247 units of passenger vehicles, up by 53 per cent, against the same month previous year, it added.
After clocking losses for seven straight quarters, Tata Motors on Wednesday posted a consolidated net profit of Rs 3,043 crore in the third quarter (Q3) of 2022-23. This came on the back of a strong order book, better semiconductor chip supply, tempered commodity prices, and a better product mix. "We remain cautiously optimistic about the demand situation, notwithstanding the global uncertainty.
Kant, an alumnus of IIT-Kharagpur, was managing director of the company before being promoted as vice-chairman five years ago.
Tata Motors is looking at various measures, including direct buying from stockists and making changes in the product configurations, to offset the impact of semiconductor shortage on its production activities and sales, a top company official has said. The auto major, which sells models including Nexon, Harrier and Safari in the domestic market, is also looking at different kinds of chips which could be used in components where the supply situation is severe. The automaker expects the situation to remain challenging in the ongoing quarter and some improvement in supplies only in the second half of the fiscal.
The appliance maker seeks to buy Motorola's ailing cell-phone division to complement its telecom business; critics say it's not a good fit
Coventry-based Nick Seale of the Warwick Manufacturing Group believes that the takeover will also be of global and historic significance. Seale said: "When the history of the motor industry is written, they will look back on this event as one of the key turning points.
Just hours after returning to Mumbai, Ravi Kant, managing director, and C Ramakrishnan, CFO of Tata Motors addressed the press on a conference call. Excerpts from the call.
The Argentinian becomes the first brand ambassador of the company in its 70-year history.
Mahindra & Mahindra, the Indian carmaker, confirmed Tuesday that it had pulled out of a $1bn joint venture with Renault and Nissan to set up a factory near Chennai.
Will the Indian auto giant manage to take Jaguar and Land Rover off Ford's hands?
The India foray of the two brands, which debuted in 1922 and 1948, respectively, has been hastened by their new Indian owner, Tata Motors, which took over in 2008 from Ford Motor Company of the US. The spokesperson said Tata Motors would be the distributor of these brands in India.
Tata Motors, India's largest commercial vehicle maker, has postponed plans for an overseas equity issue and sale of investments to repay the $3 billion bridge loan it took in June last year to acquire the Jaguar and Land Rover brands from Ford.
A year after the Tata group took over the two of Britain's most iconic automobile brands, Jaguar and Land Rover, it is faced with newer and bigger challenges than it would have expected when it paid $2.3 billion to Ford for the acquisitions on March 26, 2008.
With the US economy in a downturn, it could be a while before the Jaguar and Land Rover business turns around. For the first half of 2008, JLR has posted losses of $383 million on sales of $ 7.07 billion, a disclosure that saw the Tata Motors stock fall 5 per cent on September 23.
After a string of foreign deals in the last few years, including Tata Motors' purchase of Land Rover and Jaguar brands from Ford for $2.3 billion this year, attempts by Indian companies to acquire assets abroad are increasingly hitting roadblocks. At least, the recent attempts by Indian companies suggest so.
Tata Motors made waves when it bought the Jaguar and Land Rover brands. Test your knowledge about the erstwhile owner of these brands -- Henry Ford.
Tata Motors has succeeded in securing a $3bn banking facility for its purchase of Jaguar and Land Rover from Ford Motor, which should clear the way for the deal to close next week. Tata's ability to raise the money in spite of the turmoil on debt markets represents a vote of confidence in the Indian company and removes one of the last main obstacles to the deal.
"The toughest part was continuing to believe that we could do it," Tata told journalists covering the Auto Expo in New Delhi, where he unveiled the lowest-priced car in the world. He added that "a promise is a promise", hinting at the ability of his company to deliver even in the face of brutal scepticism.
India's corporate honchos spent a considerable time and energy this year at deal tables and executed over thousand transactions involving sale or purchase of equity stakes in their companies. On an average, every single day of 2007 saw about three deals being announced. This included a total of 1,047 merger and acquisitions as well as private equity deals for a total value of $68.32 billion (about Rs 2,75,000 crore).
India's largest automotive group said it had received 203,000 pre-paid orders worth Rs25bn ($507m) for the Nano, the world's cheapest car, which it put on sale for a 16-day booking period which ended on April 25.
'Hello Namaste' has been described as a "festive upbeat Hinglish" number which highlights the UK-India friendship.
The Tata group is looking to make a foray into semiconductor (also known as chips) manufacturing and it has set up a business to seize the opportunity, Chairman N Chandrasekaran said on Monday. "At the Tata group, we have already pivoted into a number of new businesses like electronics manufacturing, 5G network equipment as well as semiconductors, in all probability," he said while speaking at the annual general meeting of the IMC Chamber of Commerce and Industry. Chandrasekaran said global supply chains, currently heavily dependent on China, would see a big change in a post-pandemic world with businesses shifting their reliance to other countries.
Sensex ends in green on boost from bluechip stocks.
Reliance Industries, the Tata group, Bharti Airtel and Aditya Birla are among Indian conglomerates that have hedged their revenue and costs linked to the US dollar, giving them financial cover as the rupee fell past 80 against the greenback on Tuesday.
The plan was to sell off non-profitable businesses apart from focusing on four verticals: real estate, defence, financial services and retail
Automakers are caught in a chicken-and-egg situation: Prices have to come down if volumes are to increase, and volumes won't increase unless prices come down, notes Pavan Lall.
In the domestic market, the Tata Group has lost ground in the passenger car business.
Audi's 2015 sales were three per cent higher than its 2014 sales, which stood at 10,851 units.
Chinese blast has Tata Motors reporting Rs 430 cr net loss.
JLR volumes could hit million units by 2019, stock trading at discount to other premium automakers
Tata Motors has halved the volume outlook for its UK subsidiary Jaguar Land Rover Automotive (JLR) and warned of lower earnings as it sees the semiconductor shortage deepening in the September quarter of the current financial year, according to a notification issued by the company to the stock exchanges on Tuesday. The announcement caught investors unawares. They were hoping for a quicker recovery. Tata Motors' stock tanked 13 per cent (on July 6) from the day's high of Rs 358.10 and hit the lower circuit (Rs 311.45) in intra-day trades.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
Has a smaller engine taken away the reasons to love the F-Type or given us brand new one? Read on to find out
Tata Motors is seeking an image makeover with the curvaceous hatchback, Zica.
The UK's 697 projects created a 1.4 per cent rise in foreign direct investment jobs to 30,311.
RatanTata is the only Indian among five foreigners to be awarded Britian's civilian honour this year.
JLR, Tata Steel Europe CEOs caution staff on high risks of leaving the EU
Other losers included Vedanta, Tata Steel, NTPC, ONGC, L&T, M&M, Coal India, Maruti, PowerGrid, Axis Bank, ITC and HDFC, dropping up to 5.75 per cent. On the other hand, Kotak Bank, Bharti Airtel, HCL Tech, Bajaj Finance and Hero MotoCorp rose up to 0.95 per cent.
