The Monopolies and Restrictive Trade Practices Commission has slammed auto giant Tata Motors for over booking and 'embezzling' government money by retaining taxes at the time of mega-launch of its first car Indica in 1999.
Tata Motors said on Thursday it will invest Rs 10,000 to Rs 12,000 crore (Rs 100 billion Rs 120 billion) in India over the next three to four years and was looking at Russia and China for vehicle sales and component sourcing.
From the Sensex firms, Power Grid, Eternal, Tata Motors, Tata Steel, Maruti and Bharat Electronics, were among the major laggards. However, Titan, Bharti Airtel, Bajaj Finance, Mahindra & Mahindra, and State Bank of India were the gainers.
From a 15-16-level hierarchy, the organisation is moving to a flat five-level hierarchy.
The company has refurbished as many as eight models, but it desperately needs to up the ante in the compact SUV and compact sedan segments.
Auto major Tata Motors on Wednesday said it will shut down its commercial vehicle plant in Pune for three days -- the second time within 15 days -- to prevent inventory build up on account of falling sales.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
Tata Motors plans to have 10 new battery electric vehicles (BEVs) in its domestic product portfolio by 2025 as it looks to drive its business model towards sustainable mobility going ahead, as per Tata Motors chairman N Chandrasekaran. In his message to the shareholders, he noted that the auto major aims to be amongst the world leaders in sustainable mobility solutions and as part of that it is also exploring tie-ups in cell and battery manufacturing to secure supplies for its portfolio of green vehicles. "In India, EV penetration in our portfolio has now doubled to 2 per cent this year and we expect penetration to increase exponentially in the coming years. "Tata Motors will lead this change in the Indian market. By 2025, Tata Motors will have 10 new BEV vehicles and as a Group, we will invest proactively to set up charging infrastructure across the country," Chandrasekaran informed shareholders in the company's Annual Report for 2020-21.
The company took five years to sell the 250,000 units of the Nano.
Six months after its India debut, the Vietnamese automaker has overtaken established players such as Hyundai Motor, BMW, Kia, and Chinese EV major BYD.
Indian automakers are reviving legacy nameplates to leverage brand recall and stand out in a crowded market, as classic badges like Sierra, Safari, Baleno and Scorpio return to attract buyers.
In the commercial vehicles segment, the company's sales declined by 45.83 per cent to 25,738 units in the domestic market during the month compared to 47,515 units in the corresponding month previous year.
Tata Motors, India's biggest bus and truck maker, said it aimed over 10 per cent sales growth this year on the back of rising demand for both light and heavy commercial vehicles.
Among Sensex firms, Bharat Electronics, Mahindra & Mahindra, Tata Steel, UltraTech Cement, Bajaj Finserv and Tata Motors Passenger Vehicles were the major laggards. However, Tech Mahindra, Asian Paints, Infosys, Adani Ports, Sun Pharma and HDFC Bank were the gainers.
Companies with "gas guzzlers" are trying to set up the wrong narrative against small cars getting relaxation in the proposed corporate average fuel efficiency (CAFE-III) norms on the basis of weight, Maruti Suzuki senior executive officer corporate affairs Rahul Bharti said on Monday, bringing to the fore deep division among carmakers regarding the upcoming rules.
Tata Motors on Wednesday said it has expanded the Tiago range with the launch of a new sporty trim, Tiago NRG, with price starting at Rs 6.57 lakh (ex-showroom Delhi). The new sporty version of the hatchback comes with high ground clearance, bigger tyres, body cladding and roof rails to give it a SUV look. The Tiago NRG is powered by 1.2 litre petrol powertrain (86 PS power) which comes mated to five speed manual and AMT (automated manual transmission) transmission. The model has a four star safety rating by Global NCAP.
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.
Slym doesn't face such an epic challenge - after all, his company is profitable, has a trustworthy brand, deep pockets and a vast distribution.
The country's leading automakers Maruti Suzuki and Hyundai Motor reported a decline in dispatches to dealers in March as shortage of electronic components impacted production. On the other hand, Tata Motors, Skoda and Kia India posted their highest ever monthly wholesales last month. Toyota Kirloskar Motor said its dispatches in March were the highest in the last five years while Mahindra & Mahindra also reported a robust increase in its passenger vehicle dispatches in March.
"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.
From the Sensex firms, Adani Ports, Bharat Electronics, Eternal, Tata Motors Passenger Vehicles, State Bank of India and Kotak Mahindra Bank were among the biggest gainers. However, ITC, Bajaj Finance, Titan and Tech Mahindra were the laggards.
Tata Motors' UK-based subsidiary, Jaguar Land Rover or JLR, reported a muted operational performance in the December quarter of financial year 2021-22 (Q3FY22). The luxury carmaker saw a 33 per cent year-on-year (YoY) decline in wholesale volumes to just under 70,000 units in Q3, against estimates that were 16 per cent higher. The drop in despatches to dealers was on account of shortage in semiconductors.
Among the Sensex constituents, Bharat Electronics Ltd, Eternal, Trent, Tata Steel, Bajaj Finance, Adani Ports, Bajaj Finserv, State Bank of India, PowerGrid, Asian Paints, Tata Motors Passenger Vehicles, Titan, NTPC, Kotak Mahindra Bank, Larsen & Toubro and Bharti Airtel were among the laggards. Tech Mahindra, HCL Technologies, Reliance Industries and HDFC Bank were the only gainers.
Tata Motors has hiked the price of its premium small car 'Indica' by an average of 1.9 per cent with immediate effect.
Tata Motors plans to showcase over 20 passenger and commercial vehicles at the upcoming Delhi Auto Expo.
Be it the name, the design and communication campaign and the engagement processes being imagined between the brand and its buyers, the company is casting its cars in a new mould, reports T E Narasimhan.
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Strategy might not help revive volume growth in passenger vehicle sales.
Company officials hope that a slew of recent measures will help revive sagging volumes.
The Sway, which is the likely name for the Zica sedan has been codenamed as Kite 5.
Among the Sensex constituents, Eternal, Tata Steel, Kotak Mahindra Bank, UltraTech Cement, Maruti Suzuki India, Sun Pharmaceuticals, Tech Mahindra, HDFC Bank, Tata Motors Passenger Vehicles, Infosys, Trent, Mahindra & Mahindra, Reliance Industries and HCL Technologies were the gainers. However, Asian Paints, Bharti Airtel, Bajaj Finance, PowerGrid, Axis Bank, ICICI Bank and Titan were among the laggards.
Tata Motors Ltd sold and exported 26,253 vehicles during December 2003, a growth of 67.3 per cent over 15,695 vehicles sold during the same month a year ago.
Maruti Suzuki, Hyundai and Tata Motors reported their highest-ever dispatches to dealers last fiscal, enabling the domestic passenger vehicle industry to log in best-ever performance to date. The country's largest carmaker Maruti Suzuki India reported its highest wholesales to date at 19,66,164 units, up 19 per cent from 16,52,653 units in 2021-22. Its domestic dispatches rose to 17,06,831 units in 2022-23, up 21 per cent from 14,14,277 units in 2021-22 fiscal.Hyundai Motor India said its overall wholesales last fiscal were the highest ever since commencing operations in the country.
The company had sold 1,01,112 units in the same month of 2013.
The company is also working on various other measures such as enhancing quality of manufacturing facilities and improving customer buying and after sales experience.
This is the first time that a car brand will be selling its merchandise on the website.
The order comes in response to a petition filed by Jaguar Cars Ltd seeking to quash the decision of deputy registrar of Trade Marks, Kolkata.
Sales of commercial vehicles declined 23.8 per cent in July to 31,150 units from 40,882 units a year ago.
The company whose sales slumped 37 per cent in the nine months to December hopes to stem the tide with a slew of launches starting with the Zest and Bolt.
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