Tata Motors, which now houses the company's commercial vehicle business, on Thursday reported a consolidated net loss of Rs 867 crore in the September quarter, impacted by mark-to-market losses of Rs 2,026 crore on account of investment in Tata Capital.
The Punch.ev achieved the highest score point ever recorded by any vehicle to date, scoring 31.46 out of 32 for adult occupant protection and 45 out of 49 for child occupant protection.
There is no impediment to normal operations as Tata Motors puts in place the demerger process of its commercial and passenger vehicles businesses. Instead, the demerger would provide greater manoeuvrability for both new entities to operate independently, according to Tata Motors management. While there may not be immediate value unlocking, it will give investors clarity about future growth and the financials across different segments.
'SUV is a very intensely fought category, unlike hatchbacks and cars.'
Tata Motors is looking to increase passenger vehicle prices from next month in order to make its model range compliant with stricter emission norms which kick in from April 1 next year, according to a top company official. In an interaction with PTI, Tata Motors Managing Director - Passenger Vehicle and Electric Vehicles Shailesh Chandra said the price revision would also offset the impact of commodity prices, which have remained high for the most part of the year. "The regulatory change will have its impact on the cost. Even the real impact of softening of commodity prices is only going to come from next quarter and we still have the residual impact of the commodity escalation that we have seen during the year," Chandra said.
Tata Motors is looking to ramp up the production of electric vehicles as demand continues to outpace the manufacturing activity by a huge margin, according to a top company official. The Mumbai-based automaker, which led the passenger electric vehicle space in the domestic market in last fiscal year, has been receiving an average of 5,500-6,000 bookings in the past two months for its EV range. The company sells three electric products -- Nexon EV, Tigor EV and XPRES-T -- in the domestic market.
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.
Sally Slym told police they had fought so much that night that she could not talk to her husband any more.
Tata Motors Managing Director Karl Slym tweeted that it's a backward step.
Also said that the slowing demand for Tata's Nano shows consumers aren't looking for low-cost cars.
Tata Motors managing director & CEO Carl-Peter Forster told Business Standard that the company would not be doing the Nano justice if it remains just the 'world's cheapest car' and, hence, will look at all the 'natural evolutions' of the Nano, including upgrades.
There are about 70,000 Nanos on the roads now.
The company is currently developing the electric Indica with a Norway-based firm for launching the car in the European market by 2011.
Jaguar and Land Rover, the UK based carmakers, are to set up dealership networks in India soon as they seek to use ties with Tata Motors, their new owner, to find new markets.
Karnataka chief minister told reporters that Karnatala would be glad to have the Tatas in the state following a meeting with Tata Motors Managing Director G Ravikanth in Bangalore on Thursday. Tata Motors has a manufacturing facility at Dharwad in the north Karnataka region, where it produces buses and tractors.
The first to pass on the baton will be Tata Motors managing director Ravi Kant. He retires in June, according to the group's policy that all executive directors must retire at the age of 65 years. The other two are the MD of Tata Steel, B Muthuraman, and his long-time counterpart at TCS, S Ramadorai. They retire in September and October, respectively.
Tata Motors is likely to team up with its Italian partner Fiat to develop products jointly.
Tata Motors on Wednesday launched a new version of its multi utility vehicle - Sumo Grande -- priced between Rs 6.55 lakh and 7.49 lakh (Rs 655,000 and Rs 749,000), ex-showroom Delhi.
Tata Motors Managing Director Ravi Kant spoke to reporters on the problems in Singur, the production site for the Nano, soon after announcing the company's quarterly results.
"Like Russia and China, JLR would be exploring the Indian market also. A team will be coming to India to study the market," Tata Motors Managing director Ravi Kant told analysts in a conference call. He, however, said the company was not expecting big numbers from the two brands in India.
Speaking to Business Standard a day after the company announced indifferent results for 2007-08, Kant said this year is going to be the toughest for the auto industry in a long time because of soaring input costs and crude oil prices. But the credit squeeze could have a far-reaching impact on the industry's fortunes.
Briefing the media after a three-hour tour at the project site, Ravi Kant said the trial production would commence in June-July and after a month or two, regular production would begin. "Commercial production, that is the real thing, will start in October, around the Durga Puja time," he said.
As part of other initiatives to connect with the people, the company is organising special training programmes for women in areas such as tailoring, hand gloves making, garments, food products and handicrafts.
Tata Motors is likely to launch the world's cheapest car as early as January 2008, turning a whole new chapter in the retailing of low cost vehicles.
Tata Motors on Monday said it would spend over Rs 6,000 crore (Rs 60 billion) in its different plant locations in the next five years for development of its products and assets.
Tata Motors Limited will set up a plant for its ambitious Rs 100,000-car project in West Bengal, chief minister Buddhadev Bhattacharya said on Friday.
The officials visited the state electricity board and the Kolkata Metropolitan Development Authority to discuss issues like power and water supplies needed for the plant, Industry and Commerce Secretary Sabyasachi Sen told PTI.
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.
He seems to have fallen from a higher floor of a hotel in Bangkok.
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.
The company's wholly-owned subsidiary PT Tata Motors Distribusi Indonesia has introduced Tata Aria, Tata Vista and Tata Safari Storme in the Indonesian market.
Industry players have sought government support in the form of stimulus package and reduction in excise duty to overcome the slump.
The note mentioned "domestic problems".
The GST Council last year imposed a cess of 15 per cent on hybrid vehicles, in addition to the 28 per cent GST, leading to a total tax burden of 43 per cent against a previous tax rate of 28 per cent.
The commercial vehicle business is one of the mainstays for the Tata group, highlighting the importance of Girish Wagh's appointment.
The Indian car market was on a record nine months decline till July and sales picked up only in August and September.
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