Tata Motors on Monday announced that the Tata Nano Standard version (BS2) will be priced at Rs 1 lakh (Rs 100,000) ex Factory Pantnagar (excluding transportation charges and VAT) thereby delivering on the promise made at the unveiling of the car at the Auto Expo in New Delhi last year on January 10th 2008.
The company started the three-day week schedule since December in the wake of a drastic drop in demand. Tata Motors, which had in the recent past resorted to multiple temporary block closures at its units in Jamshedpur, Pune and Lucknow, is also watching the market demand.
A steady climb in volumes has helped the company double its market share in the segment to 5 per cent in the first six months of the financial year from the year-ago period and it has now set its sights on a 10 per cent share in the next two years.
Other losers included HCL Tech, Yes Bank, IndusInd Bank, TCS, ONGC, Bajaj Finance, PowerGrid, Vedanta, Asian Paints, NTPC and Hero MotoCorp, which shed up to 4.07 per cent.
With automotive sales entering into a sluggish period, leading commercial vehicle makers are enticing buyers by doling out discounts and lucrative finance options. Tata Motors, for instance, recently run a scheme wherein commercial vehicle buyers would get three months' waiver on equated monthly installments on the vehicle loan. The response, according to the company, was very positive.
Companies expect recovery in second half of fiscal as BS VI approaches, claim banks and NBFCs showing greater interest in financing.
The stock of Mahindra & Mahindra (M&M) has been touching successive all-time highs on the bourses and, over the past year, gained 81 per cent. While the S&P BSE Auto Index has not performed poorly, registering gains of 73 per cent, it still trails the company by 800 basis points (bps) during this period. There are multiple reasons why investors are beating a path to M&M's counter.
Cyrus Mistry had put in place a strategy that would have pulled most of the Tata group's 'legacy hotspots' out of the financial mess from legacy issues and helped turn around the group's finances.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
First time in 13 years the company has declined payment of dividend.
Market leader Maruti Suzuki is putting finishing touches to its plan of finding its feet in what is being hailed as a battle of epic proportions in India's fastest-growing passenger vehicle segment, reports Arindam Majumder.
Auto majors, including Maruti Suzuki India, Hyundai and Tata Motors, on Sunday reported high double-digit growth in their domestic passenger vehicle sales in July riding on stabilisation of macro-economic factors and better consumer sentiments. Similarly, Honda, Nissan, MG Motor and Skoda also reported healthy growth in their sales last month leveraging on improved market mood amid prevailing lower coronavirus infection rate, despite supply constraints of semi-conductors. The country's largest carmaker Maruti Suzuki India's (MSI) domestic sales increased by 39 per cent to 1,41,238 units last month as against 1,01,307 units in July 2020, the company said in a statement.
Commercial vehicles witnessed a fall of 15-17% in November as buyers struggled to meet margin money requirements, reports Swaraj Baggonkar.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
Innovation ranging from exterior designs of vehicles to EV charger locks grabbed eyeballs at the expo
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
Automobile exports from India recovered in the first quarter with all vehicle segments, including passenger vehicles and two-wheelers, witnessing growth following an improvement in the pandemic situation across various international markets. As per the latest SIAM data, total vehicle exports during the April-June quarter this fiscal stood at 14,19,430 units as compared with 436,500 units in the same period of 2020-21 which saw massive disruptions due to the COVID lockdowns across the country, hampering sales as well overseas shipments. SIAM director general Rajesh Menon told PTI that while two-wheeler shipments were better than previous three years, passenger vehicles, three-wheelers and commercial vehicles export numbers were yet to catch up with numbers in the first quarter of 2018-19 fiscal.
This is largely on the back of Tata Steel's expansion at Kalinganagar, as well as JLR's in China and Brazil
Maurti and Hyundai recorded jump in sales in May.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
Despite superior margins, JLR hasn't had a smooth ride in China.
The change in the way the world views India now is a reflection of how Indian industry has re-engineered itself over the past decade.
Jeep India, a part of automotive group Stellantis, on Tuesday announced the opening of bookings for its upcoming SUV Meridian, the production of which has also commenced from its joint venture manufacturing facility at Ranjangaon, Maharashtra. Customers can book the Meridian either at Jeep India dealership network or through the company's website with a down payment of Rs 50,000. Deliveries of the vehicle will start in June, it said in a statement.
Jeep India, a part of automotive group Stellantis, on Tuesday announced the opening of bookings for its upcoming SUV Meridian, the production of which has also commenced from its joint venture manufacturing facility at Ranjangaon, Maharashtra. Customers can book the Meridian either at Jeep India dealership network or through the company's website with a down payment of Rs 50,000. Deliveries of the vehicle will start in June, it said in a statement.
Model 3 received 180,000 orders worldwide.
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
Some 100 component makers worked with Tata Motors for over 3 yrs.
The company said it has begun intimating customers, who had retained their booking but are not among the first 100,000.
'Wherever the businesses are not up to the size of the Tata group, Cyrus Mistry initiated actions to move out of those businesses.'
Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Thursday reported robust sales in March as a shift towards personal mobility and pent up demand continued to help companies push dispatches to their respective retail partners. Toyota Kirloskar Motor, Honda Cars and Mahindra and Mahindra (M&M) also reported strong sales last month as compared to the year-ago period, when dispatches were adversely impacted due to the impending transition to BSVI from April 2020 and the nationwide lockdown to contain the coronavirus pandemic. The country's largest carmaker Maruti Suzuki India said its domestic sales stood at 1,49,518 units last month. The auto major had reported sales of 76,976 units in March 2020.
Top gainers of the session included Bajaj Auto, Kotak Bank, M&M, Vedanta, IndusInd Bank, Asian Paints, HDFC Bank, Reliance Industries, HUL, HDFC, ITC, Tata Steel and Tata Motors, rallying up to 5 per cent.
Companies have also managed to find talent created by frequent exits.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
Sally Slym told police they had fought so much that night that she could not talk to her husband any more.
Bharti Airtel, HDFC Bank, Tata Motors and ITC among the top losers for the day.
The new SUV is rolled out from the company's Pune facility.
Indian consumers are likely to get respite from rising prices just before the festival season. Some consumer companies, including automakers, have indicated that they are planning to pause price hikes just before demand picks up in August, while keeping a close eye on volatile raw material prices.
Pawan Munjal, chairman and managing director of Hero MotoCorp, the country's biggest two-wheeler maker, leads the pack among automobile CEOs.
