Maruti Suzuki, Hyundai and Tata Motors reported a decline in wholesales in September as the companies curtailed dispatches to dealers to reduce inventory build-up amid a decline in demand. Maruti Suzuki India reported a 4 per cent dip in total domestic passenger vehicle wholesales last month to 144,962 units compared to 150,812 units in the year-ago month. The auto major said sales of mini segment cars, comprising Alto and S-Presso, grew marginally to 10,363 units against 10,351 units in September 2023.
Karnataka chief minister told reporters that Karnatala would be glad to have the Tatas in the state following a meeting with Tata Motors Managing Director G Ravikanth in Bangalore on Thursday. Tata Motors has a manufacturing facility at Dharwad in the north Karnataka region, where it produces buses and tractors.
'SUV is a very intensely fought category, unlike hatchbacks and cars.'
After deciding to withdraw the Nano project from Singur in West Bengal in October last year, Tata Motors has sought 10 months time from West Bengal Industrial Development Corporation to remove the equipment.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
Sandipan Chakravortty, managing director, said the facility would have a capacity of half a million tonne, with construction to be completed within nine months of land being handed over to the company.
The first to pass on the baton will be Tata Motors managing director Ravi Kant. He retires in June, according to the group's policy that all executive directors must retire at the age of 65 years. The other two are the MD of Tata Steel, B Muthuraman, and his long-time counterpart at TCS, S Ramadorai. They retire in September and October, respectively.
MD Shinzo Nakanishi also rules out entering ultra low-cost car segment.
Tata Motors managing director & CEO Carl-Peter Forster told Business Standard that the company would not be doing the Nano justice if it remains just the 'world's cheapest car' and, hence, will look at all the 'natural evolutions' of the Nano, including upgrades.
Fada estimates that global supply chain headwinds like scarce availability of rare earth elements for electric vehicle components and geopolitical tensions may affect urban consumer sentiment in June as well.
If electric cars with a real range of more than 400 km are launched, the anxiety regarding the charging points will come down, and more people will buy EVs.
Tata Motors Limited will set up a plant for its ambitious Rs 100,000-car project in West Bengal, chief minister Buddhadev Bhattacharya said on Friday.
The company is currently developing the electric Indica with a Norway-based firm for launching the car in the European market by 2011.
Tata Motors is the leader in the electric car market with about 62 per cent share.
Indian passenger vehicles market registered record wholesales of 43 lakh units in 2024, with companies like market leader Maruti Suzuki, Hyundai, Tata Motors, Toyota Kirloskar Motor, and Kia posting their best-ever annual domestic sales. The continued growth of SUVs, along with rural markets playing a key role in driving up car sales, helped the industry better the previous best of nearly 41.1 lakh units posted in 2023.
At Rs 470,000 for the base petrol variant, Tigor is now the cheapest compact sedan in the country
The new SUV from the Tatas will compete with the likes of Jeep Compass, Hyundai Creta, Hyundai Tucson and the Mahindra XUV500.
The state transport department recently announced to give permit to 3,000 new taxis.
Hyundai Motor India Ltd has become the country's fifth most valuable auto firm by market valuation in its debut trade on Tuesday. Shares of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, listed at Rs 1,931, reflecting a decline of 1.47 per cent against the issue price of Rs 1,960 on the BSE earlier in the day. The stock slumped 7.80 per cent to Rs 1,807.05 during the day and finally ended at Rs 1,820.40 apiece, down 7.12 per cent.
Two-wheeler manufacturer Kinetic group has been mandated as a vendor for gear boxes for the Rs 1-lakh car by Tata Motors.
Based on the Tata Nano, the TataPixel - at just over three metres in length - is the most package efficient four-seater in the world.
Maruti Suzuki India (MSIL) said on Thursday its operations are unaffected by the global rare earth magnet shortage, but added that the situation is "uncertain and evolving". The firm said it is exploring multiple solutions to maintain continuity in operations and will notify stakeholders in case of material impact.
The officials visited the state electricity board and the Kolkata Metropolitan Development Authority to discuss issues like power and water supplies needed for the plant, Industry and Commerce Secretary Sabyasachi Sen told PTI.
Tata Motors on Wednesday launched a new version of its multi utility vehicle - Sumo Grande -- priced between Rs 6.55 lakh and 7.49 lakh (Rs 655,000 and Rs 749,000), ex-showroom Delhi.
Tech giant Microsoft regained the top spot in the list of best employers to work for in India in 2024, followed by Tata Consultancy Services (TCS) and Amazon, according to a Randstad Employer Brand Research report released on Wednesday. Microsoft had topped the list in 2022, but slipped to fifth in 2023. The 2024 list is based on responses from 3,507 people.
Tata Motors is likely to launch the world's cheapest car as early as January 2008, turning a whole new chapter in the retailing of low cost vehicles.
The domestic stock market this week would monitor the geopolitical developments after India and Pakistan reached an understanding to stop military actions, analysts said. Moreover, macroeconomic data announcements, Q4 earnings, trading activity of foreign investors and global market trends are also likely to influence sentiments, traders said.
The still-unnamed sports utility vehicle (SUV), slated for launch this June, will be in line with its heritage, says Force Motors managing director Prasan Firodia.
On the other hand, the group's two traditional cash cows, TCS and Tata Motors' subsidiary Jaguar Land Rover, are slowing as other businesses pick up pace
Less than five months after Tata Motors relocated its Nano project from West Bengal to Gujarat over land issues, another Tata group company, Tata Metaliks, is reviewing its expansion project in the state on similar grounds.
The sharp increase in commodity prices on account of the Russia-Ukraine war has put automakers in a fix. After the frequent price hikes in the current fiscal, manufacturers fear that any more price increases may further dent the already weak demand in certain segments. "We have taken several hikes and cannot immediately do it again. "We will have to closely watch the situation and act accordingly," said an official at an auto firm, declining to be identified. Even for companies like Tata Motors Passenger Vehicles, which has had a strong volume run and a robust order book, passing on the entire costs has been tough.
Ratan was extremely ethical in his dealings, which he brought to bear on the business house which he helmed, remembers Sailesh Kottary.
The Tata Motors team led by its Managing Director G Ravikant and accompanied by Karnataka Industry Minister Murugesh Nirani visited three places in and around the twin cities of Hubli-Dharwad in Karnataka. The Belur Industrial area, Mummiatti and another area around the airport near Hubli were the three sites which were offered by the government.
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
Assocham is planning to write a letter to the West bengal chief minister, asking her to bring back the Tatas to regain business confidence.
Passenger vehicle wholesales saw a marginal growth of 4 per cent in June on account of high base effect and muted demand due to severe heatwave conditions in several parts of the country. Overall passenger vehicle dispatches last month stood at 340,784 units, a growth of 3.67 per cent compared with 328,710 units in June 2023.
Five months after Tata Motors shifted its Nano plant to Gujarat, another Tata company has decided to move a project out of West Bengal. Tata Metaliks has scrapped its 500,000-tonne billet project, proposed to be built with an investment of Rs 700-800 crore
Tata Motors is 'at a very high stage' in finalising a production site for its small car Nano at an overseas location, which could be either in Latin America, South East Asia or Africa.
"Like Russia and China, JLR would be exploring the Indian market also. A team will be coming to India to study the market," Tata Motors Managing director Ravi Kant told analysts in a conference call. He, however, said the company was not expecting big numbers from the two brands in India.
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