Passenger vehicle sales in India could hit a record of over 38 lakh units in FY23 but the strong growth momentum is not expected to carry over to 2023-24 with pent-up demand already been released, according to Tata Motors Passenger Vehicles managing director Shailesh Chandra.
The Nano may ultimately be a winner but cannot turn around the company in the near term. For the present, Tata Motors continues to stare at a weak demand for both commercial vehicles as also cars. While CV volumes were lower by 51 per cent y-o-y in January 2009, compared with a fall of 46 per cent y-o-y in the December 2008 quarter, to revert to the mean could take a while given that the downturn in the economy persists.
The 997-acre plot in Singur handed over by the West Bengal government to Tata Motors is likely to remain in the hands of the company and can be returned only after a year or so.
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.
The Mumbai-based firm has lost almost 10 percentage points in market share since 2009-10, even as other brands have fought hard to wrest share away.
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.
This is the first time that a car brand will be selling its merchandise on the website.
Enthused by rave reviews that its Rs 100,000-car Nano got at the auto fair recently, the country's largest automobile company Tata Motors is embarking on a dealership network expansion drive.
The company is banking on investments lined up for product development and other innovations.
It has turned around its domestic operations under the HorizoNext strategy
Tata Motors enters Pakistan through Korean subsidiary Tata Motors, India's largest automobile firm, announced on Friday its entry in Pakistan through its subsidiary Tata Daewoo Commercial Vehicle Co.
Mahindra & Mahindra, Bharti Airtel, Infosys, Tata Motors, Titan, Tata Consultancy Services, Nestle and Maruti were also among the major laggards. HDFC Bank emerged as the only gainer from the pack.
The company has entered into a joint venture technical assistance agreement with Afzal Motors of Pakistan.
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.
Tata Motors is showcasing its Manza sedan and Prima range of world trucks at the Johannesburg International Motor Show in South Africa, with plans to formally launch these vehicles in the country early next year.
From the 30-share Sensex pack, Power Grid, Tata Steel, Zomato, Titan, Bajaj Finance, Mahindra & Mahindra, NTPC and Tata Motors were among the major laggards. Kotak Mahindra Bank, Bharti Airtel, HCL Tech, Tech Mahindra, ICICI Bank and Tata Consultancy Services were the gainers.
'Every Indian should move to an EV, and the government should not buy any fossil fuel cars. The government should become the first driver of EV adoption.'
Dalal Street investors were a poorer lot on Monday as their wealth eroded sharply by Rs 14 lakh crore following a sharp decline in benchmark indices amid a global market meltdown due to recession fears. The 30-share BSE Sensex tumbled 2,226.79 points or 2.95 per cent to settle at 73,137.90. Intra-day, the benchmark slumped 3,939.68 points or 5.22 per cent to 71,425.01.
The Tatas sold over 14,466 Indica cars, which was slightly lower than the sales of 14,592 units of the Santro hatchback in January.
The car's 624cc engine has been made more powerful.
Tata Motors is trading at 8.32 times 12-month forward PE, just marginally away from 8.31 times for Sesa Sterlite, currently the cheapest in the 30-member Sensex.
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.
At home, passenger and commercial vehicle sales have suffered from an environment of high interest rates and fuel prices in an economy growing at its slowest pace in a decade.
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.
Tata Motors is the leader in the electric car market with about 62 per cent share.
Auto makers Tata Motors and General Motors India on Monday announced they will cut prices of their products after Finance Minister P Chidambaram decided to reduce excise on automobiles in the interim Budget 2014-15.
Tata Motors hasn't announced the prices of the new vehicles yet. This is the first time that the company has introduced such a large number of new vehicles on a single day.
From the 30-share blue-chip pack, Tata Motors, Reliance Industries, ICICI Bank, Asian Paints, Nestle India, UltraTech Cement, Larsen & Toubro and Adani Ports were among the biggest gainers. In contrast, Zomato, HCL Tech, Tata Consultancy Services, Tech Mahindra, Kotak Mahindra Bank and Infosys were among the losers.
The country's leading commercial and passenger vehicles manufacturer Tata Motors Limited on Tuesday ruled out the possibility of looking for a new partner in the UK after the tie-up with MG Rover Group snapped.
From Sensex shares, Larsen & Toubro, Tata Motors, Hindustan Unilever, Asian Paints, ITC, Power Grid, NTPC and Reliance Industries were the major laggards. Among the gainers, Bajaj Finance jumped over 5 per cent. Mahindra & Mahindra, Bajaj Finserv, Bharti Airtel and Maruti also ended higher.
The conflict began around Diwali when a group of workers demanded pay hike.
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.
Consolidated net sales during the quarter this year increased by 8.03 per cent.
On the eve of Durga Puja in October 2008, industrialist Ratan Tata announced that Tata Motors would withdraw from the nearly completed Nano car plant in Singur, attributing the decision to Mamata Banerjee's anti-land acquisition movement, which he claimed had derailed what was meant to be a "groundbreaking project" -- the world's cheapest car.
Slym, 51, died after falling from a high floor of the hotel in Yannawa district, Bangkok.
Among the 30-share Sensex blue-chip firms, NTPC, Hindustan Unilever, Tata Motors, Maruti, Larsen & Toubro, Reliance Industries, Asian Paints and State Bank of India were the biggest laggards. Bharti Airtel, IndusInd Bank, Tech Mahindra, Infosys, Adani Ports and Tata Consultancy Services were among the gainers.
The company has raised the amount to be raised through qualified institutional placement due to the good response to the offer, Tata Motors said in a filing to the Bombay Stock Exchange.
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