Tata Motors on Wednesday reported a 22 per cent fall in consolidated net profit to Rs 5,578 crore for the third quarter ended December 2024, impacted by s decline in revenue from its passenger and commercial vehicles divisions. The company had posted a consolidated net profit of Rs 7,145 crore in the same quarter last fiscal, Tata Motors said in a regulatory filing.
Ahead of the festive season, several passenger and commercial vehicle manufacturers have agreed to offer discounts of 1.5-3 per cent on new vehicle purchase against scrapped old vehicles after a meeting with Union Minister Nitin Gadkari, an official statement said on Tuesday. The statement further said Mercedes Benz India has offered a flat discount of Rs 25,000, which will be over and above all existing discounts. Union Road Transport and Highways (RT&H) Minister Nitin Gadkari on Tuesday chaired a meeting with the SIAM delegation at Bharat Mandapam, where he addressed pressing issues in the automobile industry.
Passenger and commercial vehicle prices are expected to rise as automobile companies invest in upgrading vehicles to meet stricter emission norms that kick in from April next year. The Indian automobile industry is currently working to make their products meet the second phase of Bharat Stage VI, equivalent to Euro-VI emission norms, in real time driving conditions. Four-wheeler passenger and commercial vehicles will need more sophisticated equipment to be added to meet the next level of emission standards.
Tata Motors on Wednesday launched a new range of its SUV 'Safari', fitted with common rail direct injection engines, and said it had plans to offer other models with CRDi in the future.
Tata Motors, India's third-biggest carmaker, on Wednesday said it would invest a little over Rs 800 crore (Rs 8 billion) this fiscal for capacity expansion, product development and marketing.
Auto major Tata Motors Ltd on Monday launched its B-segment car Indica and sedan Indigo in South Africa and is expecting to sell around 10-12 per cent of the total marketshare in the country in a couple of years.
Indigo Marina, which will be launched on Wednesday, is the fifth model developed in-house by the company
Tata Motors is India's largest automobile company, with consolidated revenues of Rs 1,65,654 crore (Rs 1.65 trillion)
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