State Bank of India (SBI) has put on the backburner its plan to acquire a stake in Tata Motors Finance, following the Reserve Bank of India's (RBI's) objection.
RIL is also more profitable than Tata Motors.
Indian automobile majors Tata Motors and Mahindra & Mahindra (M&M) have shown interest in taking over the Termini Imerese plant owned by Italy's largest car maker Fiat. Fiat has already decided to relocate the Termini Imerese plant, preferably to cost-effective areas of Poland or Germany, in 2011.
Tata Motors on Tuesday said it is looking to offload stake in its finance arm, Tata Motors Finance Ltd, amid report that the country's largest lender SBI may be buying into it.
While this is a thoroughly modern SUV, the soul of the original '90s icon lingers.
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.
Tata Motors on Wednesday expanded its electric vehicle range in the country with the launch of Nexon EV MAX, priced between Rs 17.74-19.24 lakh (ex-showroom). Equipped with a 40.5 kWh lithium-ion battery pack, the Nexon EV Max offers 33 per cent higher battery capacity than the Nexon EV, delivering ARAI certified range of 437 km (under standard testing conditions), ensuring uninterrupted inter-city travel. ARAI refers to Automotive Research Association of India. The model produces 105 kW (143 PS) of power and delivers a torque of 250 Nm, resulting in 0 to 100 sprint times in under 9 seconds.
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
The company, however, did not specify how much capital it has planned to raise from the public through this initiative and also the purpose for such a step. This is the first time since 1995 that Tata Motors is borrowing from the public. On Monday, Tata Motors had announced borrowing from the public by offering up to 11 per cent annual interest for a period of up to three years.
he Manza is being offered with four variants in two engine options petrol and diesel. Both these engines are the same as those inside partner Fiat's Linea sedan. With the engines manufactured at the joint venture plant at Ranjangaon, the company hopes to reap the benefits of scaled-up production and pass these on to its customers.
Nissan Motor India aims to achieve a fourfold increase in domestic sales, targeting 100,000 units annually, and export another 100,000 vehicles from its Chennai plant by financial year 2027-28 (FY28), marking a significant revival of its presence in the Indian passenger vehicle market.
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.
Losing market share and market position, Tata Motors is desperately looking at alternatives, especially from its current stable of cars to stem the tide. And it has a whole bunch of variants lined up over the next year or two.
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 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.
The Tata Sons board has deferred a decision on the re-appointment of Natarajan Chandrasekaran as Chairman, signaling potential differences within the group. Concerns were raised about losses in certain group companies and the listing of Tata Sons.
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.
Retail rates of the fuel will now reflect international movement in oil prices.
The company had sold 73,491 units in the same month last year, Tata Motors said in a statement.
Homegrown auto major Tata Motors on Tuesday said it will hike prices of its commercial vehicles range by 2-2.5 per cent, depending upon individual model and variant, from April 1. The increase in the prices of commodities, such as steel, aluminium and other precious metals -- in addition to higher costs of other raw materials -- has incited this price hike of commercial vehicles, Tata Motors said in a regulatory filing.
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.
Tata Motors on Monday launched the country's first CNG truck in the medium and heavy commercial (M&HCV) vehicle segment in the 28- and 19-tonne nodes. Most truck makers, including Tata Motors, currently offer CNG only in the small and light commercial vehicle segments. The company also launched a fleet of seven trucks in the intermediary and light commercial vehicle (I&LCV) segment, meant for varied applications.
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.
Karl Slym, managing director of India's Tata Motors Ltd, died after falling from a hotel room in Bangkok in what police said on Monday could be possible suicide.
The car's 624cc engine has been made more powerful.
The Argentinian becomes the first brand ambassador of the company in its 70-year history.
From its lows in December, the stock of Tata Motors is up about 15 per cent. The gains came on the back of better than expected December volumes in its UK-based subsidiary Jaguar Land Rover (JLR). This coupled with gradual recovery in the global passenger vehicle demand, improving profitability due to product mix and lower commodity costs are expected to be key positives for the company.
This will ensure its vehicles reach dealers much faster and delivered to buyers in a maximum of three days, reports Shally Seth Mohile.
India's outward foreign direct investment (FDI) saw a significant increase of 27.5 per cent, reaching $7.06 billion in March, primarily driven by a sharp rise in guarantees for overseas units, according to the Reserve Bank of India.
The company is planning the despite facing continued pressure on sales.
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.
The company is evaluating 'possible areas' of cooperation with Jaguar Land Rover, with the engineering teams at the UK plant as well as at the India centre working in synchronisation.
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 on Wednesday unveiled Tigor EV, its second electric model in the personal mobility space after Nexon EV. The auto major has tasted success with Nexon EV, which currently commands about 70 per cent market share in the domestic electric vehicle segment. The Tigor EV comes powered by the company's high voltage electric architecture - Ziptron - and has been developed based on three pillars of technology, comfort and safety.
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.
