S&P Global Ratings has upgraded its long-term ratings on Tata Motors to speculative grade 'BB' with stable outlook on earnings improvements and potential deleveraging. The ratings agency had earlier placed Tata Motors in 'BB-'. As per S&P ratings, a BB grade is less vulnerable in the near-term but faces major ongoing uncertainties to adverse business, financial and economic conditions.
Tata Motors is actively considering tapping into some of the export markets beyond South Asia, for its range of electric vehicles (EVs) as it sees an opportunity of selling affordable EVs in markets outside India. The export plans will coincide with the commercial launch of the Curvve - an electric SUV concept that broke cover on Wednesday, in two years from now, Shailesh Chandra, MD, Tata Motors PVs and Electric Mobility, told Business Standard. "We are actively thinking of the international markets and we would like to go with a portfolio of products. "We have identified a few markets and in a couple of years, we should commence the same," said Chandra.
After more than two years, Tata Motors has dislodged Korea's Hyundai Motors in India from the second spot in monthly domestic passenger vehicle sales. The spurt in Tata's June numbers has primarily been due to a dramatic increase in sales of the Nano, after the mother plant at Sanand in Gujarat went onstream last month, as well as a surge in that of the Indigo.
Tata Motors on Tuesday rolled out the first batch of CityRover cars, to be marketed by MG Rover in the highly competitive United Kingdom and European markets.
Tata Motors is looking at various measures, including direct buying from stockists and making changes in the product configurations, to offset the impact of semiconductor shortage on its production activities and sales, a top company official has said. The auto major, which sells models including Nexon, Harrier and Safari in the domestic market, is also looking at different kinds of chips which could be used in components where the supply situation is severe. The automaker expects the situation to remain challenging in the ongoing quarter and some improvement in supplies only in the second half of the fiscal.
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."
Tata Motors on Tuesday launched its second electric vehicle -- Tigor EV, catering to the personal segment in the domestic market, priced between Rs 11.99 lakh and Rs 13.14 lakh (ex-showroom). The model comes in three variants, priced at Rs 11.99 lakh, Rs 12.49 lakh and Rs 12.99 lakh. A dual tone top-end trim is tagged at Rs 13.14 lakh. The auto major has already achieved success with its first electric model, Nexon EV and now commences deliveries of Tigor EV from around 150 sales outlets in 70 cities across the country.
However, raised prices of its sport-utility vehicles by up to Rs 11,000.
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.
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.
During the festive season, dealers of Tata Motors reported a robust pick-up in demand for the Nano.
Adityanath had earlier referred to a conspiracy angle behind the violence during the protest, which is currently under police investigation.
The auto maker is on a rough road with demand for both CVs and cars sluggish. With sales of commercial vehicles having barely grown and passenger car volumes dipping in FY08, the street was not expecting much from India's biggest automobile company.
The BJP's West Bengal unit chief, Samik Bhattacharya, has criticised the Trinamool Congress (TMC) government, accusing it of crushing democracy and creating a lawless environment in the state. He highlighted political violence, rising debt, and a lack of investor confidence as key issues under the TMC's rule.
The world's largest truck maker Daimler is understood to be selling off its residual stake in Tata Motors for over $400 million.
Tata Motors aims to address 95% of passenger vehicle market by 2020
The net proceeds of the fund raising will be used to repurchase certain equity shares issued to Tata Motors and for general corporate purpose.
India's largest auto maker Tata Motors on Tuesday said it will set up in Myanmar a heavy truck manufacturing facility with a capacity of 1,500 units per annum.
Kant, an alumnus of IIT-Kharagpur, was managing director of the company before being promoted as vice-chairman five years ago.
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 is taking a block closure at Jamshedpur from November 6 to November 8, 2008, to match production with the demand of vehicles produced at the Jamshedpur plant to avoid build-up of inventory either in the company or with our dealers," a company spokesperson said. In October, the company reported 29 per cent decline in commercial vehicles sales at 19,154 units, against 27,103 units in the same month last year.
After launching the Nano early this week, the country's leading truck and bus maker, Tata Motors, is now looking to set up a truck manufacturing plant in Myanmar with support from the Indian government in the form of financial participation.
The company has entered into a joint venture technical assistance agreement with Afzal Motors of Pakistan.
The company commenced production in January, 1999. While it achieved the 100,000th car in March 2001, and the 500,000th car in February, 2005, the progression from the 900,000th car to the millionth car was achieved in just 7 months.
Tata Motors went ahead with mobilisation of construction equipment at Singur on Monday and enrolment of locals for work on the Rs 1,000 crore (Rs 10 billion) greenfield plant amid heavy security.
Homegrown auto major Tata Motors on Tuesday said it will raise $1 billion (Rs 7,500 crore) in its passenger electric vehicle business from TPG Rise Climate at a valuation of up to $9.1 billion. Tata Motors Ltd (TML) and TPG Rise Climate, the dedicated climate investing strategy of private investment firm TPG, have entered into a binding agreement in this regard. Under the agreement, TPG Rise Climate along with its co-investor ADQ, will invest in a subsidiary of Tata Motors that will be newly incorporated, the company said in a statement.
As part of other initiatives to connect with the people, the company is organising special training programmes for women in areas such as tailoring, hand gloves making, garments, food products and handicrafts.
Jaguar Land Rover will continue to be managed independently.
The updated Aria will be available in three variants, with the base model priced at Rs 9.95 lakh (ex-showroom Delhi).
Tata Motors on Monday said it would spend over Rs 6,000 crore (Rs 60 billion) in its different plant locations in the next five years for development of its products and assets.
Tata Motors' commercial-vehicle (CV) business reported a 48 per cent year-on-year decline in net profit to Rs 705 crore in Q3FY26, even as profit before tax (PBT) rose 65 per cent to Rs 2,568 crore.
Backed by strong demand for Indian vehicles from markets such as South Africa, Tata Motors has exported more than 50,000 vehicles during 2005-06 showing a growth of over 65 per cent over the previous year.
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.
'Battery electric, hydrogen fuel cell and hydrogen ICE, could be the three technologies which have the potential of being zero emission and that are what we will have to work on,'
Tata Motors is looking to increase passenger vehicle prices from next month in order to make its model range compliant with stricter emission norms which kick in from April 1 next year, according to a top company official. In an interaction with PTI, Tata Motors Managing Director - Passenger Vehicle and Electric Vehicles Shailesh Chandra said the price revision would also offset the impact of commodity prices, which have remained high for the most part of the year. "The regulatory change will have its impact on the cost. Even the real impact of softening of commodity prices is only going to come from next quarter and we still have the residual impact of the commodity escalation that we have seen during the year," Chandra said.
Tata Motors Ltd said on Thursday that it sold a total of 26,862 vehicles in October 2003 compared to 19,306 units during the same month of the previous fiscal, an increase of 39 per cent.
Tata Motors has identified over a dozen overseas markets to sell commercial vehicles by either setting up manufacturing units, assembly lines or tying up with dealers in those countries, a top company official said.
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