Tata Motors on Monday said its global sales increased by 36 per cent in July to 90,646 units on robust demand for both commercial and passenger vehicles.
Tata Motors is likely to team up with its Italian partner Fiat to develop products jointly.
Having introduced common rail direct injection engine in its Indigo XL sedan, Tata Motors has decided to introduce the technology in all diesel models of its Indigo and Indica cars within next 4 to 6 months.
Shares of Tata Motors, which surged over eight per cent in morning trade, shed gains to settle up three per cent on the Bombay Stock Exchange and National Stock Exchange as the company launched the world's cheapest car 'Nano'.
Tata Motors' 2022-23 (FY23) January-March quarter (fourth quarter, or Q4) results were better than Street estimates, with strong showing across Jaguar Land Rover (JLR), as well as commercial and passenger vehicle businesses in the domestic market. The company posted its highest consolidated top line and operating profit, with growth of 35 per cent and 46.5 per cent, respectively, over the year-ago quarter. While the top line was aided by a 49 per cent growth in the JLR unit, all key segments reported margin expansion.
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.
The sharp fall in commercial vehicle (CV) sales has forced automobile giant Tata Motors to again shut its Pune plant for six days this month. The CV plant will be out of action from December 5 to 7 and again from December 26 to 28.
Life Insurance Corporation of India (LIC), the country's biggest insurer, said it did not participate in Tata Motors' Rs 4,145-crore rights issue as the shares continued to trade below the offer price till the last day of the subscription today. The move resulted in the issue devolving on the promoters and the underwriter, JM Financial.
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.
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.
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.
Car-maker sends another strongly-worded letter on vendor park.
The company on Tuesday challenged before the court the RTI commissioner's competence to deal with the matter, with its counsel submitting before Justice Dipankar Dutta that the Right to Information Act was not applicable in case of an agreement involving industrial secrets. Justice Dutta has scheduled the matter for hearing on Friday.
Tata Motors was allotted 1,000 acres of prime agriculture land at the Pantnagar industrial estate in the hope that the company would set up its dream Nano project in Uttarakhand. It has now agreed in principle to allot 50 acres more to the auto giant. Tata Motors is seeking 100 acres for housing purposes. Meanwhile, suspense continues over the Nano project being shifted to the hill state.
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.
Even as Tata Motors is racing against time to get its new Singur plant near Kolkata ready for commercial roll-out of the Nano by October 2008, the company may need an out-of-the-box solution to overcome some delays in the integrated plant and component park structure proposed for the vehicle.
Many say Tata Motors has perhaps paid the price for being too ambitious.
The new obsession on cost control is powered by the company's 'GEAR' (Generate idea, evaluate, action and realise the idea) programme.
Tata Motors, India's biggest auto maker, on Monday said it had successfully tested vehicles running on compressed air on two of its products.
Auto major Tata Motors on Tuesday launched a new version of its small car Nano, which has dual fuel option of petrol and CNG, priced between Rs 2.40 lakh and Rs 2.65 lakh (ex-showroom, Delhi).
Cyrus Mistry said more focus was needed for improvement in key areas such as vehicle technology.
Marcopolo has got four manufacturing facilities in Brazil and one each in Portugal, Argentina, Mexico, Colombia and South Africa. India will be its tenth production base.
It has turned around its domestic operations under the HorizoNext strategy
The Mumbai headquartered company also overtook Japanese carmaker Honda to occupy the fourth spot in domestic passenger vehicle market.
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.
Consolidated net sales during the quarter this year increased by 8.03 per cent.
Tata Motors Managing Director Karl Slym tweeted that it's a backward step.
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.
Tata Motors will undertake shutdown from March 27 to April 6 to carry out maintenance of equipments, particularly, in the paint shop," Debasis Ray, Head of Corporate Communications, said.
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.
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.
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.
India's passenger vehicle industry is poised for a record-breaking year in 2026, propelled by robust dispatches in the first half of the calendar year and strong demand for utility vehicles, despite facing several economic challenges.
The legislation revokes the original lease agreement signed between Tata Motors, the country's biggest automobile maker, and the West Bengal Industrial Development Corporation.
The upcoming Tata Sons board meeting in June could possibly throw some light on several critical issues that may have a bearing on the future of the corporate behemoth.
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 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.
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 revealed its plans of introducing more vehicles this year. It is also planning to increase its exports to South Africa.
