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  • Tata Motors This fall consolidated web loss at Rs 7,585 crore; FY21 web loss at Rs 13,395 crore

    Home-grown auto main Tata Motors on Tuesday reported a consolidated web lack of Rs 7,585 crore for the fourth quarter ended March 31, 2021.
    It had posted a consolidated web lack of Rs 9,864 crore within the January-March interval of FY2019-20, Tata Motors mentioned in a BSE submitting.
    The auto main’s complete revenue within the fourth quarter of FY’21 stood at Rs 89,319 crore. It was at Rs 63,057 crore within the year-ago quarter.

    For all the 2020-21 fiscal, the corporate reported a consolidated web lack of Rs 13,395 crore, in opposition to a web lack of Rs 11,975 crore in 2019-20.
    Its complete revenue stood at Rs 2,52,438 crore for the final monetary 12 months as in opposition to Rs 2,64,041 crore in FY’20.

  • Tata Motors extends guarantee and free service for homeowners until June 30

    Tata Motors on Tuesday introduced the extension of guarantee and free service for its passenger car homeowners in view of the continued curbs throughout the nation due to the second wave of the coronavirus (COVID-19) pandemic. The automaker mentioned that these clients whose guarantee and free service interval are as a consequence of expire between April 1 and May 31, will get an extension until June 30.
    Several clients are unable to service automobiles which are scheduled for upkeep, the corporate mentioned in an announcement.
    “In a testament to its continuous endeavor to offer customers a seamless and hassle free after-sales experience, Tata Motors, India’s leading manufacturer, has today announced that the customers whose warranty and free service period (not kms.) are due to expire between 1st April 2021 and 31st May 2021, will be extended till 30th June 2021,” the assertion mentioned.

    “The Covid 19 upsurge has led to restrictions on movements and customers across the country are unable to bring or send their vehicles to our authorized service centers for scheduled maintenance or repairs. Hence a challenge when warranty and free service periods as per policy norms get expired during the on-going lockdown,” mentioned Dimple Mehta, Head – Customer Care (Domestic & IB), PVBU, Tata Motors.
    “We are committed to our customers and are offering them utmost support in these tough times by extending their warranty and free service period till 30th June 2021. Through this initiative we are enhancing our brand connect with customers and are offering them a hassle free ownership experience,” he added.

    Tata Motors mentioned that it has expanded its service community throughout 400+ places with 608 service centres throughout the nation.
    The firm additionally had just lately introduced a value hike throughout its passenger automobiles vary by a mean of 1.8 per cent relying upon the mannequin and variant from May 8.

  • Tata Motors reviewing CCI order on probe in opposition to business automobile enterprise

    Homegrown auto main Tata Motors on Tuesday mentioned it’s reviewing the order by the Competition Commission of India (CCI) to provoke investigation in opposition to its business automobiles enterprise in India for alleged abuse of its dominant place.
    Last week, the CCI had handed an order directing the Director General, CCI, to provoke investigation in opposition to the corporate for alleged abuse of dominant place with respect to dealership agreements in its business automobiles enterprise in India.
    “The CCI, in connection with its prima facie order, has specifically noted in the order that nothing stated in the CCI’s order shall tantamount to a final expression of opinion on the merits of the Case. It is reiterated that the company is reviewing the CCI’s order and is engaging with its counsel to take suitable next steps,” Tata Motors mentioned in a regulatory submitting.

    The CCI order got here on two complaints filed in opposition to Tata Motors, Tata Capital Financial Services Ltd and Tata Motors Finance Ltd. The competitors watchdog had noticed that the complainants had been primarily aggrieved that Tata Motors has imposed unfair phrases and situations within the dealership settlement for business automobiles.
    It has been alleged that the corporate was abusing its dominant place in contravention of the provisions of Section 4 of the Competition Act, which pertains to abuse of dominant place.

    On the allegation that the dealership settlement supplies that the supplier shall not begin, purchase or take pleasure in any new enterprise (of product or providers) even when it’s not associated to the auto trade, the CCI had said that the identical gave the impression to be unduly restrictive and expansive in its protection and interferes with the liberty of commerce.
    However, CCI had made it clear that it was not analyzing the conduct of Tata Capital and Tata Motors Finance or the agreements executed by them with the sellers for channel financing, which don’t seem to command any important market energy within the verticals the place they’re working.

  • Tata Motors to hike passenger automobile costs from Saturday

    Tata Motors on Friday mentioned it should improve costs of its passenger automobiles by a mean of 1.8 per cent relying upon the mannequin and variant from May 8, to be able to partially offset the rise in enter prices.
    The auto main famous that it could provide safety from the value improve to clients who’ve booked automobiles on or earlier than May 7.
    With impact from May 8, the corporate will improve costs of its passenger automobiles, averaging 1.8 per cent, relying on the variant and mannequin, Tata Motors mentioned in a press release.

    “Increase in prices of commodities, such as steel and precious metals, necessitates us to pass on a part of it through increase in price of our products,” Tata Motors President Passenger Vehicles Business Shailesh Chandra mentioned.
    Keeping in thoughts the curiosity of consumers who’ve booked automobiles already, the automaker which sells fashions like Safari, Harrier and Nexon, is providing value safety for all bookings carried out until May 7, he added.
    The value hike on mannequin vary can be efficient for bookings made thereafter (May 8), Chandra famous.

    Tata Motors sells a variety of automobiles ranging from entry hatchback Tiago to newly launched Safari SUV, priced between Rs 4.85 to Rs 21.4 lakh (ex-showroom Delhi).
    For the well-being of its enterprise and supporting ecosystem, the corporate had just lately introduced that it has set in movement a complete ‘Business Agility Plan’ to guard and serve the pursuits of its clients, sellers and suppliers.

  • Tata Motors whole gross sales up 51% at 61,365 items in February

    Tata Motors on Monday reported a 51.07 per cent enhance in whole gross sales at 61,365 items in February.
    The firm had offered a complete of 40,619 items in the identical month final 12 months, Tata Motors stated in an announcement.
    Total home gross sales have been up 54 per cent at 58,473 items, as in comparison with 38,002 items in February final 12 months, it added.

    Passenger car gross sales within the home market throughout the month beneath overview, surged over two-fold to 27,225 items, as towards 12,430 items in the identical month final 12 months.
    The auto main reported a 21 per cent enhance in whole industrial car gross sales at 33,966 items, as towards 28,071 items within the year-ago interval.

  • Tata Motors ties up with personal lenders for industrial autos financing

    Homegrown auto main Tata Motors on Monday stated it has entered into partnerships with main personal banks, together with HDFC Bank, ICICI Bank and Yes Bank, to fund its industrial autos.
    The tie-ups intention to boost worth choices for purchasers of each new in addition to pre-owned autos all through the client lifecycle, Tata Motors stated in a press release.
    The choices arising out of those tie-ups will embody ancillary monetary provisions similar to gas financing, working capital financing, mixture financing and repair price financing. It will allow prospects to avail engaging monetary schemes from all of the associate financiers with minimal formalities, it added.
    The different personal banks embody Equitas Small Finance Bank, AU Small Finance Bank, Union Bank of India and Punjab National Bank. NBFCs similar to Cholamandalam Investment and Finance Co Ltd, HDB Financial Services, and Sundaram Finance are additionally a part of the tie-ups.
    “Our partnership will definitely add worth and leverage our frequent strengths to satisfy the ever-evolving wants of our prospects.
    “We are confident of an increased reach in customer categories, product segments and geographies and hope that this will help us serve our customers in an efficient and delightful manner in the future as well,” stated Tata Motors Vice-President (Sales and Marketing, and Commercial Vehicles Business Unit) Rajesh Kaul.
    Tata Motors stated its BS-VI choices have garnered “an overwhelming response in the market, with the fleet owners appreciating the lowered total cost of ownership of the vehicles”.

    It added that within the wake of such enthusiasm, these monetary choices promise prospects quick access to monetary schemes from main banks within the nation for the acquisition and financing of the autos and providers.
    Some of those financing options will goal massive company and particular person prospects with massive fleets within the medium and heavy industrial car (M&HCV) house, with engaging choices by way of price and top quality of service, the corporate stated.

    It added that some others will cater to small industrial car (SCV) prospects in semi-urban and rural places, with particular choices devoted to the purchasers of pick-up, the Tata Yodha.