Tata Motors is investing heavily to roll out a slew of new models in the passenger and commercial vehicle segments, as also in new technologies to address the varying customer needs so as to make the company future-ready, chairman Cyrus Mistry has said.
Reeling under a sharp slowdown in its local business, Tata Motors has asked about 600 employees to leave by accepting an early retirement offer (ERO), The Financial Express reported today quoting sources.
Tata Sons Chairman Cyrus P. Mistry will chair the committee, which will comprise all the current members of the company's executive committee, the company said in a statement on Thursday.
According to Thai Police, the letter was written by Karl Slym's wife Sally about domestic problems. The Police said that Slym's death was not a murder.
A native of Britain, Slym was hired in 2012 to revive flagging sales and market share in the domestic business of India's biggest automaker, which is part of the Tata conglomerate.
Slym, 51, was in Bankok to attend a board meeting of Tata's Thailand unit.
Slym, 51, was in the Thai capital for a Tata Motors Thailand board meeting, a company spokeswoman told Reuters. A post-mortem report was due on Monday, she said, but gave no further details.
"The industry as well as India is going through a rather protracted downturn. Therefore, there are lots of things out there to enable us, ensure our structure is suitable. Voluntary retirement scheme (VRS) allows those people to move on with our support," Tata Motors Managing Director Karl Slym told.
"We have done a lot of consolidation to make sure that we operate as one company,†said Karl Slym, MD, Tata Motors.
The panel, headed by Nitin Gokarn, CEO of automotive testing agency Natrip, was stunned to discover that the Tavera's BS III engines actually did not conform to the standards.
The slowdown in the economy, proved by the GDP for Q1FY14 coming in lower than estimated, has impacted consumer spending, thereby hitting auto sales directly.
As a part of its aggressive revival plan, top management of Tata Motors met at Pune to unveil eight new cars which will be released in the market in three to four months.
Tata Motors launched 8 upgraded products last week and Karl Slym, MD, said the company is working on new products to address gaps in its product portfolio.
Tata motors today launched upgraded versions of its Indigo ECS, Sumo Gold, Nano, Indica and also a new CNG range across its Indica, Indigo and Nano range.
Tata Motors on Wednesday launched eight upgrades of existing models, including a CNG-fuelled version of its low-cost Nano, but said little about plans for completely new vehicles to help reverse sliding car sales in India.
Tata Motors has launched upgraded version of the Nano, Sumo Gold, Indica and Indigo eCS. It has also introduced CNG powered Nano, Indica and Indigo.
Tata Motors' plant in Sanand is lying idle with operations not beyond 25 percent of the complete capacity. The company may shift production of high-volume products like ACE to Sanand.
Tata Motors will launch 40-50 products in the CV space, including in the ultra LCV range this financial year, to maintain its lead. In cars, there will be product refreshes and Nano varints to stem the decline. New car-models will roll out in the long term.
Tata Motors | ONGC | BPCL | Max India | Torrent Power | Essel Propack | MCX | MphasiS | Cipla | Apollo Tyres and HDIL are stocks, which are in the news today.
Karl Slym wants to change the way Tata Motors makes and sells its cars. But the cars he has don‘t sell; and his idea of those that will should take at least two years to hit the market.
The Chandigarh consumer redressal commission has ordered a 6-month jail term for Tata Motors managing director Karl Slym.
After the most forgettable year for Tata Motors in recent memory, the country's largest automaker is making key structural changes in its operations to align its passenger car business with its CV business to create one vision.
Tata Motors MD Karl Slym says, in an interview to CNBC-TV18, that the Indian business environment is gloomier than China and adds that Tata Motors will be reborn with its first product launch in 12 months.
In the vibrant passenger car-segment in India, leading automobile manufacturer Tata Motors on Sunday said that there was a need to change the company's strategy, Tata Motors MD Karl Slym said.
Tata Motors has seen a change at the top with Karl Slym coming in. Slym's aim is to rejig operations and revamp Tata Motors product portfolio.