Tata Motors considers further extension of up to a year for CEO Guenter Butschek

is understood to be mulling an option to extend its current CEO, Guenter Butschek’s term by another year, it is learnt. Butschek whose 5 year term officially ended in February was persuaded to stay on till June 2021 after Marc Llistosella who was to take charge as the next CEO&MD from July abruptly declined to … Read more

Auto sales shrink in May as showrooms and factories remain closed on Covid curbs

New Delhi: Automobile sales in the local market in May shrank to just over a third of the previous month, as showrooms and factories remained closed or operated at reduced capacities due to lockdowns in several states. As many as 88,045 passenger vehicles were sold last month, compared with 261,633 units in April, according to … Read more

Auto sales crash in May 2021 amid COVID-induced lockdowns

Sales of automobiles in the local market last month sequentially declined in strong double-digits with state governments imposing sporadic lockdowns to check the spread of the second wave of the coronavirus pandemic. As many as 88,045 passenger vehicles were sold last month, compared to 33,546 units sold in the year-ago period, according to data released … Read more

Automobile sales nosedive 55% in May, Will June bring respite with ease in COVID-19 restrictions?

New Delhi: In the month of May, automobile sales dropped by over 55% month on month (MoM), courtesy of the lockdown announced in many states across the country to tame the second wave of COVID-19. In comparison to May 2019, auto sales plummeted by over 70%.  The drop in sales was witnessed across all automobile … Read more

Carmakers bet on quick demand bounce back after second Covid-19 wave

India’s top five automakers are betting on a swift bounce bank in demand for cars and utility vehicles once the ongoing second wave of Covid-19 subsides. Senior executives at Maruti Suzuki, Hyundai Motor India, Tata Motors, Kia Motors and Mahindra & Mahindra have all echoed the same sentiment — that people would look for personal … Read more

Tata Motors Q4 results: Tata Motors Q4 consolidated net loss at Rs 7,585 crore; FY21 net loss at Rs 13,395 crore – Times of India

NEW DELHI: Home-grown auto major Tata Motors on Tuesday reported a consolidated net loss of Rs 7,585 crore for the fourth quarter ended March 31, 2021. It had posted a consolidated net loss of Rs 9,864 crore in the January-March period of FY2019-20, Tata Motors said in a BSE filing. The auto major’s total income … Read more

Tata Motors’ Q4 net loss narrows to Rs 7,585 crore on improved sales

Home-grown auto major Tata Motors on Tuesday reported a narrowing of consolidated net loss at Rs 7,585 crore for the fourth quarter ended March 31, 2021, aided by improved sales. The company had posted a consolidated net loss of Rs 9,864 crore in the January-March period of 2019-20, Tata Motors said in a BSE filing. … Read more

Tata Motors Q4 takeaways: Outlook challenging, but recovery still on track

MUMBAI: left investors surprised as it reported a mammoth consolidated net loss of over Rs 7,500 crore due to exceptional losses related to subsidiary Jaguar Land Rover. The company’s consolidated net losses narrowed from the year-ago quarter, which was marred by Covid-related lockdowns across major markets such as India, China and Europe. “The business has … Read more

Tata Motors hikes car prices! Check new rates of Nexon, Tiago, and Safari

New Delhi: Tata Motors has increased the prices of its passenger vehicles from May 8, 2021. The homegrown automaker has hiked the prices from Rs 10,000 to Rs 36,000 depending on the variant and model.  In its official statement, Tata Motors said, “For the wellbeing of its business and supporting ecosystem, the Company had recently … Read more

CCI orders probe against Tata Motors

The Competition Commission of India (CCI) has ordered a detailed probe against Tata Motors for alleged abuse of dominant position with respect to dealership agreements. The order has come on two complaints filed against Tata Motors, Tata Capital Financial Services Ltd and Tata Motors Finance Ltd. (opposite parties). The CCI observed that the complainants were … Read more