For the first time, the event will take place across three locations in Delhi: Bharat Mandapam at Pragati Maidan, Yashobhoomi Convention Centre at Dwarka, and India Expo Mart at Greater Noida.
Tata Motors' 2022-23 (FY23) January-March quarter (fourth quarter, or Q4) results were better than Street estimates, with strong showing across Jaguar Land Rover (JLR), as well as commercial and passenger vehicle businesses in the domestic market. The company posted its highest consolidated top line and operating profit, with growth of 35 per cent and 46.5 per cent, respectively, over the year-ago quarter. While the top line was aided by a 49 per cent growth in the JLR unit, all key segments reported margin expansion.
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.
Sporting a compact four-cylinder, two-litre engine, this new sedan will be the smallest five-seater luxury saloon under the Jaguar brand.
"The process (of raising the amount) is over. Tata will borrow the money from us (the banks consortium) on Monday and might come with an official announcement in the next few days," a source close to the development told PTI. Tatas had entered into a definitive agreement with Ford to buy Jaguar and Land Rover in March for $2.3 billion. The $3 billion fund raising included Tata Motor's other committements as well.
Sales of luxury brands from Jaguar Land Rover were at 20,358 units during June, up one per cent from the same month last year.
The company has expanded its line-up to nine models with several variants, making it the most aggressive luxury auto player in the country.
Tata Motors-owned Jaguar Land Rover reported 25 per cent increase in its global sales in November this year at 37,403 units.
Tata Motors, say sources, instructed advisers in the past fortnight to begin evaluating the merits of a joint offer for Jaguar and Land Rover.
The company is evaluating 'possible areas' of cooperation with Jaguar Land Rover, with the engineering teams at the UK plant as well as at the India centre working in synchronisation.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Tata Group-owned British car maker Jaguar Land Rover announced on Wednesday that it had secured a 175 million (Rs 1,300 crore) from State Bank of India. This comes over and above the $90 million (Rs 420 crore) committed export financing facility with ABC International Bank, the company said.
Tata Motors will soon submit a detailed report on the upcoming manufacturing plant in Tamil Nadu's Ranipet district and a decision, on whether the facility will churn out passenger or commercial vehicles, will be taken by the company on the basis of market trends, state's industries minister TRB Rajaa said on Thursday. "They are keeping the options open, and market trends will determine it (the type of vehicles the plant will make). "They will quickly come up with a detailed report on that," Rajaa said.
The auto major said profit was impacted by an exceptional item of asset impairment in its British arm Jaguar Land Rover.
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.
After turning around the fortunes of the iconic Land Rover, Tata Motors on Tuesday said that it plans to start assembling the high-end SUV in India from next year.
'Jaguar Land Rover will manage the long-term impact and implications of this decision.'
In the past, Tata Motors gave India its many first - country's first indigenous car (Tata Indica), first sports utility vehicle (Safari), first micro truck (Ace) or a Rs 100,000 car for the common citizen (Nano). After JLR's acquisition, however, the company has failed to connect with Indian car buyers.
The country's largest auto company reported a total sales of 75,775 units across its various international operations, which include Tata Motors, Tata Daewoo and the Hispano Carrocera range of commercial vehicles, Tata passenger vehicles and the British marquee brands Jaguar Land Rover.
The company had sold 1,01,112 units in the same month of 2013.
Meetings to break the deadlock have been planned.
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.
A key point to understand is that Ford is selling these brands not because they are in their worst trouble ever, but simply because of Ford's overall crisis - it lost more than $12.6 billion in 2006 - is pushing CEO Alan Mulally to raise money to fulfill his declared ambition to restore the mass-market Ford business to health.
Tata Motors is stripped off India's most valuable company tag.
Tata Motors, which owns Jaguar and Land Rover, is in talks with the UK government on assistance for the luxury units as sales have plummeted.
It's a fourth consecutive monthly slide.
"Tata Motors, which is engaged in focused and detailed negotiations with Ford on the Jaguar Land Rover business, clarifies that the company has had no discussions with Fiat on deployment of technologies developed by Jaguar and Land Rover," the Mumbai-based company said in a statement.
Indian conglomerate Tata and US car maker Ford are expected to complete the deal of the latter's luxury brands Jaguar and Land Rover within a few days, a media report said on Monday. According to The Guardian newspaper, Ford is expected to complete the sale of Jaguar and Land Rover to Tata "within a few days." However, neither side has put a price on the marques. The price tag is likely to get closer to $ 2 billion. The deal was prolonged due to complexities in the agreement.
Tata Motors Chairman Cyrus Mistry said the company was poised for an 'inflection', even as it revamped its entire product portfolio.
Come Sunday, India's automobile industry will achieve a unique distinction of showcasing both the world's cheapest car Nano and two of the costliest brands -- Jaguar and Land Rover -- from the Tata Group.
The company is banking on investments lined up for product development and other innovations.
If the UK government's help does not come soon, Indian owner Tata Motors will have to cut down its investment plans for Jaguar Land Rover with possible job losses and plant closures, a media report said.
Tony Woodley, joint general secretary of Unite, said that there was little reason for the British government not to act now that Tata Motors had injected more cash. 'I would now be extremely surprised if the government did not give financial support to the company as well and I would be very surprised if it wasn't this side of Christmas. I would be disappointed if there was not confirmation of the availability of a loan or credit guarantees at least,' he said.
Sales of luxury brands from Jaguar Land Rover were at 30,094 units during May, up 35 per cent from the same month last year, Tata Motors said in a statement.
The warning late on Wednesday came as a surprise given Tata shares hit a record high earlier this month on a rally sparked by expectations for improving sales at JLR, especially in the key China market, and optimism about the launch of new models.
Increasing competitive intensity in JLR's key luxury car market and weakness in domestic business dampen sentiment.
Not wanting to alienate other suitors including Mahindras, Ford may wait till the new year to announce the winner for its Jaguar and Land Rover brands, although Indian conglomerate Tatas have emerged as the top choice, media reports said in London on Friday. "Tata Motors is set to be chosen by Ford as the preferred bidder for Jaguar and Land Rover as early as Friday," a report in Financial Times said quoting people close to the situation.
This rating action follows the announcement by Ford Motor Company (Ford, which has a rating-B3/Stable) naming Tata Motors the preferred buyer for Ford's luxury Jaguar and Land Rover car brands.
'Spectre' will feature the Jaguar C-X75 driving through the moonlit streets of Rome.
This is not the first EV that Mercedes would be making in India though. It has been making the EQS sedan here for the last 18 months, and has sold 500 units of the car.
