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.
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 Tata Harrier.ev is a car that makes you feel safe and powerful within a luxurious cocoon, raves Rajesh Karkera/Rediff after a gruelling test drive.
Tata Sons' dividend from Tata group companies for last financial year is expected to show a decline of 3.5 per cent to Rs 36,514 crore from Rs 37,832 crore a year earlier. This should be the first year-on-year decline in Tata Sons' dividend in the last nine years. The holding company had last reported a decline in FY16, when its proceeds had gone down 42.5 per cent to Rs 6,898 crore from Rs 11,993 crore a year earlier.
This will ensure its vehicles reach dealers much faster and delivered to buyers in a maximum of three days, reports Shally Seth Mohile.
Powered by Ziptron technology, the electric SUV for the personal segment comes with a range of 312 km on a single charge and a high voltage system, fast charging capability, extended battery life and class leading safety features. Besides, it has 35 connected car features as well. The Nexon EV will be available in three trim levels across 60 authorised dealerships in 22 cities, the company said at the launch.
The range will also be gradually introduced in South Korea, South Africa, the SAARC countries and the Middle East. "The developing infrastructure in India makes it possible for transporters to reap the benefits of trucks with higher power, speed and carrying capacity. The new range from Tata Motors will meet those needs and will help us penetrate international market more effectively and competitively," Tata Sons and Tata Motors Chairman Ratan Tata said.
Among the cars unveiled at the Auto Expo on Wednesday was Mahindra and Mahindra's e-KUV for Rs 8.2 lakhs ex-showroom Delhi. With a single charge range of 150 km and a 55 min fast charging upto 80 pc, it was both a head-turner and a conversation-starter.
Managing Director Ravi Kant said that 75 per cent of the company's purchases from vendors were covered by a tripartite arrangement, between vendors who had chosen to be covered by the scheme, Tata Motors and banks. As per the scheme, the bank paid the vendor and Tata Motors paid the bank, he said. "For the remaining 25 per cent purchases, there could be some delays," Kant said, without giving details about the outstanding debt or when payments will be made.
Tata Motors on Wednesday said it has extended warranty and free service period by one month for those commercial vehicle customers whose tenures are due between April 1 and June 30 amid the second wave of COVID-19 pandemic. Bajaj Auto, too, extended the free service period of all its brands in the country till July 31. In view of the restrictions announced by several state governments across the country to curtail the spread of the COVID-19 virus, Tata Motors has extended warranty and free service period for all its commercial vehicles that were scheduled to expire in the period of April 1 to June 30, 2021.
Safari Storme powered by 2.2 litre VariCOR engine, turbocharged with Variable Turbine Technology, delivers 140 PS Power and 320 NM Torque.
Amid challenging market environment, Maruti Suzuki India and Mahindra & Mahindra reported an increase in vehicle dispatches to dealers last month while Tata Motors and Hyundai saw a year-on-year drop in sales.
Automobile giant Tata Motors' shares were in demand on Wednesday as the stock rallied as much as 3.69 per cent to hit an intraday high of Rs 671.80 per share, before settling 3.18 per cent higher at Rs 668.45. By comparison, the BSE Sensex settled 0.10 per cent, or 72.56 points, lower at 74,029.76.
The company believes there is a shift in consumer demand, more buyers could opt for Skoda in future
The commercial vehicle business is one of the mainstays for the Tata group, highlighting the importance of Girish Wagh's appointment.
Zest buyers are forced to wait up to six weeks for the automated manual transmission version, available only on this car in the compact sedan segment.
Tatas have a presence in Korea following the acquisition of Daewoo's heavy commercial vehicles business some years ago.
However, raised prices of its sport-utility vehicles by up to Rs 11,000.
Increasing competitive intensity in JLR's key luxury car market and weakness in domestic business dampen sentiment.
From the Sensex pack, HCL Tech, Infosys, Tech Mahindra, Reliance Industries, Bajaj Finserv, ICICI Bank, Tata Motors and Eternal were the lead gainers. Power Grid, Adani Ports, IndusInd Bank, Nestle, HDFC Bank and Hindustan Unilever were among the laggards.
'We want to be number three by 2018 and every month we are moving closer to that ambition.'
The net proceeds of the fund raising will be used to repurchase certain equity shares issued to Tata Motors and for general corporate purpose.
Analysts believe Tesla will first focus on building the Model Y brand before expanding -- both in terms of volume and models.
Ratan N Tata, chairman of the Board of Tata Motors, said, "Board respects Carl-Peter's personal circumstances that led to this move. We would like to thank him for his contributions to the successful development of our company in his role as Group chief executive officer and managing director."
Frankly, I never expected to be offroading in an electric vehicle, let alone an SUV of this calibre, raves Rajesh Karkera/Rediff after a test drive.
V Sumantran has resigned from the post of executive director of Tata Motors.
Tata Motors, India's largest automobile company, on Monday said it has entered into a joint venture with Thailand's Thonburi Automotive Assembly Plant Co to build, assemble and sell pick-up trucks in that country.
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.
As it makes inroads into the quality-conscious global markets, Tata Motors on Wednesday said it was in the process of "shrinking" vendor base as part of a "strategy" to rationalise supplier chain.
Total revenue from operations however rose to Rs 67,081.29 crore as compared with Rs 59,818.22 crore in the year-ago period
Tata Motors, a regular at the Geneva Motor Show, has shown several concepts that have eventually turned into production realities.
During the festive season, dealers of Tata Motors reported a robust pick-up in demand for the Nano.
According to figures released by Society of Indian Automobile Manufacturers on Monday, Tata Motors exported 498 units last month as compared to just a single unit in the corresponding month last year.
As battery prices drop, early customers of Tata Motors, which was the first mover in the passenger EV market, could feel let down.
The business will also see a change of guard. Shailesh Chandra, president of EV and corporate strategy, will replace Mayank Pareek as president of PV business, including EV, with effect from April 1. Pareek will be superannuating from the company after a six-year stint at the end of February 2021. Chandra and Pareek will work on transition over the next few weeks.
Leading automobile manufacturer Tata Motors Limited has shortlisted West Bengal as the possible location for setting up a greenfield truck manufacturing unit.\n\n
Investors' wealth eroded by Rs 5.98 lakh crore on Thursday, tracking weak trends in equities where the BSE Sensex tumbled 1 per cent. Benchmark indices Sensex and Nifty declined 1 per cent in tandem with weak global market trends amid growing tensions in the Middle East.
Guenter Butschek will start his new job by Feb. 15
