Tata Motors on Monday said its global sales increased by 36 per cent in July to 90,646 units on robust demand for both commercial and passenger vehicles.
Sales of commercial vehicles declined 24.51 per cent in June to 31,384 units from 41,577 units a year ago.
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.
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 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, 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.
Following it negotiations with Ford Motors for the aquisition of Jaguar and Land Rover, Tata Motors has been put under credit watch.
With no signs of financial aid coming from the UK government, Indian conglomerate Tatas have agreed to inject "tens of millions of pounds" into its British car company Jaguar Land Rover, says a media report.
Fiat Group Automobiles India is the Indian arm of Italian automobile major Fiat. Asked when the financial services division is likely to be rolled out, he said, "We are planning to do that as part of our announcement in April.
Dismissing adverse comments on Jaguar and Land Rover (JLR) buy, Ratan Tata on Tuesday said the $2.3-billion acquisition of the iconic brands was 'worthwhile' though the subsequent financial crisis posed challenges.
For years, critics termed Tata's vehicle business as a millstone around the neck. But Group chairman Ratan Tata on Wednesday flattened their theory by taking the automobile venture to a new plane with the acquisition of British luxury brands Jaguar and Land Rover.
The Unite union wants a 12.8 per cent pay rise
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
Tata Motors will see 'strong operational recovery of its domestic business, which we believe should be the prime driver of stock valuations', Merrill Lynch said in a research report, adding that 'Jaguar Land Rover is likely to recover next year'.
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.
Tata was concerned that most innovations were happening outside India, some by Indians.
"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.
The country top automaker, Tata Motors, launched its marquee car brands Jaguar and Land Rover in India on Sunday. It had acquired these brands from US car maker Ford. The company promises that the two brands would give the Indian public an opportunity to experience the 'pleasure of driving superior technology.'
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.
To say that Ratan Tata leaves behind a huge legacy would be a gross understatement.
Jaguar Land Rover will continue to be managed independently.
Auto major Tata Motors on Monday said it appointed Carl-Peter Forster as the new group chief executive of the company.
The London Commercial court has granted Tata Sons a period of 23 days, starting July 27th 2016, to apply to set aside the exparte order
Bullish on Jaguar Land Rover, top industrialist Ratan Tata has hinted at Tatas manufacturing these marquee brands in India, Eastern Europe and the US.
Slym doesn't face such an epic challenge - after all, his company is profitable, has a trustworthy brand, deep pockets and a vast distribution.
When 'humiliated' Tata did 'favour' to Ford with JLR buyout!
Leading Indian public sector banks State Bank of India, Bank of Baroda and Syndicate Bank are close to committing a part of the $3 billion bridge loan that Tata Motors has to raise to finance the acquisition of Jaguar and Land Rover from Ford.
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 money was supposed to be used to develop an electric version of one of its existing models.
Rakesh Jhunjhunwala has picked up a 1.29 per cent stake in Tata Motors. The September quarter shareholding pattern disclosed by the automaker showed Jhunjhunwala holding 40 million shares.
Tata-promoted Taj Hotels may decide to add the Nano to their line of chauffeur-driven cars used for guest transfers.
Tata Motors is seeking an image makeover with the curvaceous hatchback, Zica.
However, any progress on the deal depends upon Goyal giving up control of the company.
Tata Motors, part of the $100 billion Tata conglomerate, said consolidated net profit for the April-June quarter rose to 53.98 billion rupees ($882.31 million) compared with Rs 17.68 billion a year ago.
Virtually addressing employees of Air India across the globe, he said for the airline to be the best again there will be an organisational redesign, and it will "require a huge transformation, probably the largest transformation and the change all of you would ever go through". The carrier will expand its "outreach both domestically and internationally" and it has the desire to connect India with every part of the globe, he added.
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
Will the Indian auto giant manage to take Jaguar and Land Rover off Ford's hands?
In an interview published in the Sunday Times on Sunday, Ratan Tata admitted with hindsight that he might have gone too far too fast, but that nobody saw the economic recession coming.
Tata Motors, however, did not elaborate on the various programmes that have been initiated with JLR and other subsidiaries.
Bookings for the head-turner are now open on the Tata Motors website, for an initial payment of Rs 35,000 (which will be reimbursed fully on cancellation, the company assures).
