The world's cheapest car, the Nano, may still roll out from Singur with Tata Motors today expressing hope that the West Bengal government's new rehabilitation package will evoke a positive response from unwilling land-losers who had refused compensation.
Tata Motors' passenger vehicle sales stood at 229,325 units in the last financial year, registering a market share of just 8.9 per cent.
Leading automobile company Tata Motors on Friday said it has become the first Indian company producing 1 lakh (100,000) commercial vehicles in a financial year.
The legislation revokes the original lease agreement signed between Tata Motors, the country's biggest automobile maker, and the West Bengal Industrial Development Corporation.
Tata Motors is to invest Rs 6,000 crore (Rs 60 billion) in the next five years to increase the passenger car capacity at its Pune plant by 50 per cent and plans to raise $100 million shortly.
Tata Motors said on Thursday production at its car plant in Pune may get affected following a fire at its paint shop. There was no casualty.
As part of a 50:50 joint venture agreement signed in 2007, the two companies had agreed to a joint distribution network and back-end support, besides co-manufacturing of products at the Ranjangaon facility near Pune.
Tata Motors on Wednesday inaugurated the world's cheapest car, the Nano's, manufacturing facility here, nearly two years after it was forced to shift the plant out of West Bengal over a land row.
The conflict began around Diwali when a group of workers demanded pay hike.
Tata Motors is looking to ramp up the production of electric vehicles as demand continues to outpace the manufacturing activity by a huge margin, according to a top company official. The Mumbai-based automaker, which led the passenger electric vehicle space in the domestic market in last fiscal year, has been receiving an average of 5,500-6,000 bookings in the past two months for its EV range. The company sells three electric products -- Nexon EV, Tigor EV and XPRES-T -- in the domestic market.
The incentive package being offered by the government of West Bengal for the Tata Motors for setting up the small car project in Singur would take into account the concessions offered by the Uttaranchal government for the project in that state.
The company is banking on investments lined up for product development and other innovations.
Tata Motors revealed its plans of introducing more vehicles this year. It is also planning to increase its exports to South Africa.
The 56-year-old German quit the Mumbai-based company after 18 months on the job, citing personal reasons.
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.
Tata Motors posted robust results for the June quarter, defying market forecasts and registering a 58 per cent rise in net profit for the period.
Tata Motors' commercial vehicles segment, which contributes more than half of the company's stand-alone profits and is the biggest truck maker in the country, on Monday said it has seen a slight revival in demand for heavy trucks and hopes for the trend to continue in the festive period.
The bellwether scrip was the top gainer on both the key indices - Sensex and Nifty.
Top commercial vehicle maker Tata Motors has raised the prices of its medium and heavy vehicles by 2-2.5 per cent on account of increase in input costs.
Tata Motors Ltd has completed the public filing for listing the American Depository Receipts on the New York Stock Exchange.
The vehicle is being manufactured in the company's Bhosari plant.
The JV company, Tata Motors (Thailand) Ltd was formed between the two in December 2006. Tata Motors holds 70 per cent stake and Thonburi the balance 30 per cent.
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.
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.
Foreign fund house Citigroup Global Markets Mauritius on Tuesday bought 0.97 per cent stake in Tata Motors for Rs 350.13 crore (Rs 3.50 billion) through open market transaction -- as part of the 5.34 per cent residual stake that Dailmer sold in the country's largest automaker.
Tata Motors on Tuesday reported a 13.7 per cent increase in total vehicle sales for the fiscal ended March 31, as compared to the previous fiscal.
Tata Motors on Friday said the company's sales jumped 9.1 per cent in November with 34,282 vehicles sold during the month compared to 31,428 unit in the same period last year.
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.
Kerala has overtaken more industrialised states in personal electric vehicle adoption, driven by strong middle-class uptake, policy support, and charging infrastructure.
It was late last year when Tata Motors announced that it would set up the first plant for producing the Rs 1-lakh car at Gujarat's Sanand rather than Karnataka's Dharwad, among other places.
When it comes to the "all-new" Tata Altroz unveiled on Thursday, one might wonder if it's truly a complete overhaul or just a refreshed take on the familiar.
With the theme 'Smart Mobility, Smart Cities', the company's display at the Auto Expo is focusing on intelligently-connected cities designed to offer convenience, safety, security, and efficiency to its customers.
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.
So what's special about the Kaziranga range? Rajesh Karkera and Hitesh Harisinghani find out.
Industry sources said Tata Daewoo Commercial Vehicle and Telco Construction Equipment Company might be the first off the block.
We call it Nano, they don't have to, says vice-chairman Ravi Kant
JLR's product pipeline and margin uptick will ensure good revenue and profit growth.
Among Sensex stocks, Tata Motors Passenger Vehicles, Trent, Infosys, Power Grid, HDFC Bank, HCL Tech, Kotak Mahindra Bank, ICICI Bank and Bajaj Finance were the major laggards. However, Bharat Electronics, State Bank of India, Tata Steel, Eternal, Bharti Airtel and Reliance Industries were the gainers.
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