'We want to be number three by 2018 and every month we are moving closer to that ambition.'
Tatas have a presence in Korea following the acquisition of Daewoo's heavy commercial vehicles business some years ago.
However, raised prices of its sport-utility vehicles by up to Rs 11,000.
Tata Motors is planning to invest Rs 15,000 crore in the EV segment in the next five years, a top company official has said. The company, which is a leader in the newly emerging EV segment with offerings such as Nexon, is also planning to develop around 10 more new offerings in the segment, president for Passenger Vehicles Business of Tata Motors Shailesh Chandra said. "As far as future is concerned, in next five (years) we will invest Rs 15,000 crore in electrification.
Increasing competitive intensity in JLR's key luxury car market and weakness in domestic business dampen sentiment.
Hyundai Motor India and Honda Cars India on Wednesday joined the list of automakers planning to hike prices of vehicles from April, second time this year, to partially offset the impact of rising input costs and higher operational expenses. In a statement Hyundai Motor India Ltd (HMIL) said it will hike prices of its vehicles by up to 3 per cent effective in April 2025.
Tata Motors on Wednesday forayed into the CNG segment with the launch of Tiago and Tigor trims, priced between Rs 6.09 lakh and Rs 8.41 lakh respectively (ex-showroom Delhi). The Tiago iCNG range is priced between Rs 6.09 lakh and Rs 7.64 lakh while the three variants of Tigor iCNG are tagged at Rs 7.69 lakh, Rs 8.29 lakh and Rs 8.41 lakh respectively. With the launch, the homegrown auto major plans to strengthen its position in the CNG market which has been growing at a fast pace. "It is very clear that the CNG segment is going to witness a steep growth over the next few years.
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.
The net proceeds of the fund raising will be used to repurchase certain equity shares issued to Tata Motors and for general corporate purpose.
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
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, India's largest automobile company, on Monday said it has entered into a joint venture with Thailand's Thonburi Automotive Assembly Plant Co to build, assemble and sell pick-up trucks in that country.
V Sumantran has resigned from the post of executive director of Tata Motors.
Leading passenger vehicle maker Maruti Suzuki on Saturday reported marginal growth while Hyundai and Tata Motors posted a decline in their sales in February as a slowdown in the market continued with demand remaining muted. On the other hand, Mahindra & Mahindra and Toyota Kirloskar Motor posted double-digit growth riding on their SUV and MPV models.
As it makes inroads into the quality-conscious global markets, Tata Motors on Wednesday said it was in the process of "shrinking" vendor base as part of a "strategy" to rationalise supplier chain.
Tata Motors, a regular at the Geneva Motor Show, has shown several concepts that have eventually turned into production realities.
During the festive season, dealers of Tata Motors reported a robust pick-up in demand for the Nano.
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.
Guenter Butschek will start his new job by Feb. 15
Mahindra & Mahindra, Bharti Airtel, Tata Consultancy Services, Infosys, ICICI Bank, and ITC were the biggest laggards. Foreign portfolio investors (FPIs) offloaded equities worth Rs 4,294.69 crore on Friday, according to exchange data.
The updated Aria will be available in three variants, with the base model priced at Rs 9.95 lakh (ex-showroom Delhi).
Leading automobile manufacturer Tata Motors Limited has shortlisted West Bengal as the possible location for setting up a greenfield truck manufacturing unit.\n\n
Industry insiders in India warn that any such move in the pharmaceutical sector could be counterproductive for the US as it may face increased drug shortages if tariffs are imposed on such imports.
"There was an unprecedented traffic flow of around 40 million and the website crashed for sometime. It was restored later," sources told Business Standard. A company spokesperson also confirmed the development, but added that the website was immediately restored. The website had put up information on Tata Nano, the application forms for booking, financing details, dealer locations and pictures of the car on its website.
The world's largest truck maker Daimler is understood to be selling off its residual stake in Tata Motors for over $400 million.
The company has the largest car park in EVs in India, estimated to be around 170,000 units. As a pilot, it has already started work with used online car marketplace Spinny.
From the 30 blue-chip pack, Tata Motors, Titan, Tata Steel, State Bank of India, Mahindra & Mahindra, NTPC, ICICI Bank, Maruti, HDFC Bank and Infosys were among the biggest laggards. Zomato, Tech Mahindra, HCL Tech and IndusInd Bank were among the gainers.
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.
The price reduction across passenger vehicles is in the range of Rs 6,300 to Rs 69,000.
Tata Motors, India's largest commercial vehicle manufacturer, is looking to launch a first-of-its-kind sub-600 kg small commercial vehicle, aiming to cater to the growing demand for efficient last-mile delivery solutions, an area currently witnessing a surge in interest from e-commerce giants. This new entrant is set to be positioned just below the marquee Tata Ace, which is popular across the country as "Chota Haathi".
The scheme has been extended to all categories of employees.
While Maruti held the top spot for four decades, the Ambassador was the best-selling car in post-Independence India for three decades.
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.
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.
Kant, an alumnus of IIT-Kharagpur, was managing director of the company before being promoted as vice-chairman five years ago.
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