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BENGALURU, Sept 17 (Reuters) - Shares of major Tata group companies rose on Thursday after a report that said the board of Tata Sons TATO.NS has approved a fresh five-year term for N. Chandrasekaran as executive chairman.
IT major TCS TCS.NS was up 1.7%, Tata Motors Passenger Vehicles TAMO.NS rose 5.4% and Tata MotorsTATM.NS climbed 3%.
(Reporting by Nishit Navin; Editing by Janane Venkatraman)
(([email protected];))
BENGALURU, Sept 17 (Reuters) - Shares of major Tata group companies rose on Thursday after a report that said the board of Tata Sons TATO.NS has approved a fresh five-year term for N. Chandrasekaran as executive chairman.
IT major TCS TCS.NS was up 1.7%, Tata Motors Passenger Vehicles TAMO.NS rose 5.4% and Tata MotorsTATM.NS climbed 3%.
(Reporting by Nishit Navin; Editing by Janane Venkatraman)
(([email protected];))
Sept 16 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
The Times
KPMG said it will cut about 200 more UK-based consultant roles in the coming weeks, as too few employees were leaving voluntarily.
Mike Ashley’s Frasers Group FRAS.L is facing investor oppositionafter its finance chief Chris Wootton received a £100,000 ($134,730.00) bonus for securing £3 billion ($4.04 billion) in financing.
The Guardian
The Bank of England is poised to halt its sales of long-term government bonds which have been hit by a global sell-off in debt markets.
Infrastructure and construction firm Kier Group KIE.L said it will pause housebuilding and shift its focus to road and hospital projects to strengthen its balance sheet.
The Telegraph
UK chancellor John Healey is in talks with the Canadian government about joining the proposed Canada-led defence, security and resilience bank (DSRB), which could help the UK fund defence projects at a lower cost.
Jaguar Land Rover TAMO.NS is in talks with NATO countries to sell the Defender military vehicles, as the UK-based carmaker aims to capitalise on Europe’s defence spending boom.
Sky News
University of Glasgow spinout, Chemify which uses robots and AI to discover new medicines has secured £22 million ($29.65 million) in grants from Scottish Enterprise and the UK government.
($1 = 0.7422 pounds)
($1 = 0.7420 pounds)
(Compiled by Bengaluru newsroom)
Sept 16 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
The Times
KPMG said it will cut about 200 more UK-based consultant roles in the coming weeks, as too few employees were leaving voluntarily.
Mike Ashley’s Frasers Group FRAS.L is facing investor oppositionafter its finance chief Chris Wootton received a £100,000 ($134,730.00) bonus for securing £3 billion ($4.04 billion) in financing.
The Guardian
The Bank of England is poised to halt its sales of long-term government bonds which have been hit by a global sell-off in debt markets.
Infrastructure and construction firm Kier Group KIE.L said it will pause housebuilding and shift its focus to road and hospital projects to strengthen its balance sheet.
The Telegraph
UK chancellor John Healey is in talks with the Canadian government about joining the proposed Canada-led defence, security and resilience bank (DSRB), which could help the UK fund defence projects at a lower cost.
Jaguar Land Rover TAMO.NS is in talks with NATO countries to sell the Defender military vehicles, as the UK-based carmaker aims to capitalise on Europe’s defence spending boom.
Sky News
University of Glasgow spinout, Chemify which uses robots and AI to discover new medicines has secured £22 million ($29.65 million) in grants from Scottish Enterprise and the UK government.
($1 = 0.7422 pounds)
($1 = 0.7420 pounds)
(Compiled by Bengaluru newsroom)
Shares of Tata Chemicals jump 20% to 2-1/2-month high
Potential Tata Sons' listing may unlock value for group firms
Tata Sons has sought to remain privately held
Adds developments in paragraph 3, updates share movement
Sept 15 (Reuters) - Shares of several Tata Group companies jumped on Tuesday on renewed expectations that Tata Sons could eventually be listed, after India's central bank rejected the holding company's application to deregister as a non-bank lender.
A potential listing of Tata Sons, the holding company of 31 group companies, could unlock value and boost valuations for listed Tata companies, particularly those with stakes in the unlisted parent. Tata Chemicals, Tata Motors and Tata Investment are among the companies that own stakes in Tata Sons.
The Reserve Bank of India pre-emptively approached the courts seeking to be heard in any matter filed related to the potential listing, Reuters reported, citing a source directly familiar with the matter.
Disagreements between Tata Sons Chairman N Chandrasekaran and Tata Trusts, which owns 66% of the holding company, included a potential listing of Tata Sons, losses at Air India and the planned exit of a minority shareholder.
Last month, Tata Sons said Chandrasekaran would not seek reappointment, adding to uncertainty around the group's future leadership.
Shares of Tata Chemicals TTCH.NS jumped as much as 20% on Tuesday, while Tata Motors Passenger Vehicles TAMO.NS was up about 4%. Shares of Tata Investment TINV.NS advanced 11.5%.
Tata Chemicals, trading at its highest level in roughly 2-1/2 months, holds around 2.5% in Tata Sons, according to ICICI Securities.
The brokerage estimates the stake is worth 100 billion rupees to 150 billion rupees ($1.04 billion to $1.56 billion), close to Tata Chemicals' current market capitalisation, underscoring the potential for significant value unlocking.
ICICI Securities, however, said it expects a "prolonged legal battle", though the stock could remain in positive territory in the near term.
PRIVATELY HELD
The more than a century-old holding company, which had standalone assets totalling 1.75 trillion rupees as of March 2025, has sought to remain privately held.
Tata Sons is classified as a core investment company and is subject to RBI rules for non-bank lenders that require companies with assets exceeding 1 trillion rupees, or those with direct or indirect access to public funds, to be listed.
The company had also faced pressure from its stakeholders to go public, including the second-largest shareholder, Shapoorji Pallonji Group.
Two Tata trustees have supported the listing of Tata Sons in media interviews, arguing that expansion into new areas such as semiconductors will require large amounts of capital that cannot be generated internally.
($1 = 95.8600 Indian rupees)
(Reporting by Aishwarya Jain and Vivek Kumar M in Bengaluru; Writing by Abinaya V; Editing by Sonia Cheema and Sherry Jacob-Phillips)
(([email protected];))
Shares of Tata Chemicals jump 20% to 2-1/2-month high
Potential Tata Sons' listing may unlock value for group firms
Tata Sons has sought to remain privately held
Adds developments in paragraph 3, updates share movement
Sept 15 (Reuters) - Shares of several Tata Group companies jumped on Tuesday on renewed expectations that Tata Sons could eventually be listed, after India's central bank rejected the holding company's application to deregister as a non-bank lender.
A potential listing of Tata Sons, the holding company of 31 group companies, could unlock value and boost valuations for listed Tata companies, particularly those with stakes in the unlisted parent. Tata Chemicals, Tata Motors and Tata Investment are among the companies that own stakes in Tata Sons.
The Reserve Bank of India pre-emptively approached the courts seeking to be heard in any matter filed related to the potential listing, Reuters reported, citing a source directly familiar with the matter.
Disagreements between Tata Sons Chairman N Chandrasekaran and Tata Trusts, which owns 66% of the holding company, included a potential listing of Tata Sons, losses at Air India and the planned exit of a minority shareholder.
Last month, Tata Sons said Chandrasekaran would not seek reappointment, adding to uncertainty around the group's future leadership.
Shares of Tata Chemicals TTCH.NS jumped as much as 20% on Tuesday, while Tata Motors Passenger Vehicles TAMO.NS was up about 4%. Shares of Tata Investment TINV.NS advanced 11.5%.
Tata Chemicals, trading at its highest level in roughly 2-1/2 months, holds around 2.5% in Tata Sons, according to ICICI Securities.
The brokerage estimates the stake is worth 100 billion rupees to 150 billion rupees ($1.04 billion to $1.56 billion), close to Tata Chemicals' current market capitalisation, underscoring the potential for significant value unlocking.
ICICI Securities, however, said it expects a "prolonged legal battle", though the stock could remain in positive territory in the near term.
PRIVATELY HELD
The more than a century-old holding company, which had standalone assets totalling 1.75 trillion rupees as of March 2025, has sought to remain privately held.
Tata Sons is classified as a core investment company and is subject to RBI rules for non-bank lenders that require companies with assets exceeding 1 trillion rupees, or those with direct or indirect access to public funds, to be listed.
The company had also faced pressure from its stakeholders to go public, including the second-largest shareholder, Shapoorji Pallonji Group.
Two Tata trustees have supported the listing of Tata Sons in media interviews, arguing that expansion into new areas such as semiconductors will require large amounts of capital that cannot be generated internally.
($1 = 95.8600 Indian rupees)
(Reporting by Aishwarya Jain and Vivek Kumar M in Bengaluru; Writing by Abinaya V; Editing by Sonia Cheema and Sherry Jacob-Phillips)
(([email protected];))
Move follows suspension of local manufacturing plans for three models
New entry model price targeted below $12,000 - sources
VinFast looping in suppliers early to optimise costs - sources
India key growth market after struggle to scale in U.S., Europe
By Aditi Shah and Phuong Nguyen
NEW DELHI/HANOI, Sept 10 (Reuters) - Vietnamese automaker VinFast VFS.O plans to develop two new electric vehicles for the Indian market, five sources told Reuters, in a strategic shift made just weeks after it suspended plans to manufacture some of its global models there.
The move marks a departure from VinFast's earlier attempt to adapt existing vehicles for India - a market the money-losing carmaker sees as a chance for growth after it struggled to reach scale in the United States and Europe.
It has pledged to invest $2 billion in India, where it opened its first factory outside Vietnam last year. It wants to build the operation into a regional manufacturing base serving South Asia, the Middle East and Africa.
VinFast has begun initial discussions with suppliers in India for the two new models, internally codenamed VF X and VF Y, but talks are at an early stage, two of the sources said.
The sources, all of whom declined to be identified as the discussions are private, said plans for the car are still being evaluated and could change.
A VinFast spokesperson declined to comment, saying that information about new products would be announced at "the appropriate time".
HIGH COSTS PROMPTED STRATEGY SHIFT
VinFast in July suspended plans to manufacture three of its current global models, the VF 3, VF 6 and VF 7, in India after it determined it would not be able to bring costs down enough to sell at the prices it had targeted, Reuters reported last week.
The automaker currently sells two models in India - the VF 6 and VF 7 - which are imported as kits from Vietnam and assembled at its India factory. VinFast has said it plans to continue with assembly of the two models.
In August, VinFast executives flew in from Vietnam to meet about 200 Indian suppliers to discuss the company's plans for the world's third-largest car market, two of the sources said.
VinFast has chosen to involve Indian suppliers from the outset to iron out pricing and costs early in the development process and avoid a repeat of the same issues, one of the sources said.
The automaker wants to create a compact, affordable model smaller than its current VF 6 crossover SUV but a little bigger than its two-door SUV, VF 3, so it meets local consumer preferences for a spacious vehicle, the source said.
It is still refining the design, this person said, adding that one challenge was striking a balance between the vehicle's size and its cost.
VinFast is targeting the VF X as an entry-level offering for India and wants to price it below $12,000, two of the sources said. That is roughly what it charges for the VF 3 in Vietnam, one of its more affordable models there. In India, plans to locally manufacture the same VF 3 were among those paused.
Meanwhile, the VF 6 currently sold in India is priced at about $19,000 for the base model, and the VF 7 starts at $24,250.
VINFAST IS BETTING BIG ON INDIA
A car priced less than $12,000 will put VinFast in one of the biggest EV segments dominated by Indian automaker Tata Motors TAMO.NS but will also be the hardest to crack.
EV sales in India have been on the rise since the Iran war as gasoline prices increased. Electric models currently make up over 7% of total car sales and the government wants to grow this to 30% by 2030.
Instead of doing everything from scratch, VinFast wants to work with components and tools already available with suppliers in the country to build a new product for India, said a sixth source aware of the company's local plans.
Backed by Vietnam's largest conglomerate Vingroup VIC.HM, VinFast started selling cars in India in September 2025 and has so far retailed about 10,000 vehicles. It has broader ambitions in India, including in real estate, education and healthcare.
Its assembly plant has an initial production capacity of 50,000 cars a year and is scalable to 150,000. VinFast said it has received investment approval for the plant's second phase expansion.
(Reporting by Aditi Shah in New Delhi and Phuong Nguyen in Hanoi, additional reporting by Praveen Pramasivam in Chennai; Editing by David Dolan and Kim Coghill)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
Move follows suspension of local manufacturing plans for three models
New entry model price targeted below $12,000 - sources
VinFast looping in suppliers early to optimise costs - sources
India key growth market after struggle to scale in U.S., Europe
By Aditi Shah and Phuong Nguyen
NEW DELHI/HANOI, Sept 10 (Reuters) - Vietnamese automaker VinFast VFS.O plans to develop two new electric vehicles for the Indian market, five sources told Reuters, in a strategic shift made just weeks after it suspended plans to manufacture some of its global models there.
The move marks a departure from VinFast's earlier attempt to adapt existing vehicles for India - a market the money-losing carmaker sees as a chance for growth after it struggled to reach scale in the United States and Europe.
It has pledged to invest $2 billion in India, where it opened its first factory outside Vietnam last year. It wants to build the operation into a regional manufacturing base serving South Asia, the Middle East and Africa.
VinFast has begun initial discussions with suppliers in India for the two new models, internally codenamed VF X and VF Y, but talks are at an early stage, two of the sources said.
The sources, all of whom declined to be identified as the discussions are private, said plans for the car are still being evaluated and could change.
A VinFast spokesperson declined to comment, saying that information about new products would be announced at "the appropriate time".
HIGH COSTS PROMPTED STRATEGY SHIFT
VinFast in July suspended plans to manufacture three of its current global models, the VF 3, VF 6 and VF 7, in India after it determined it would not be able to bring costs down enough to sell at the prices it had targeted, Reuters reported last week.
The automaker currently sells two models in India - the VF 6 and VF 7 - which are imported as kits from Vietnam and assembled at its India factory. VinFast has said it plans to continue with assembly of the two models.
In August, VinFast executives flew in from Vietnam to meet about 200 Indian suppliers to discuss the company's plans for the world's third-largest car market, two of the sources said.
VinFast has chosen to involve Indian suppliers from the outset to iron out pricing and costs early in the development process and avoid a repeat of the same issues, one of the sources said.
The automaker wants to create a compact, affordable model smaller than its current VF 6 crossover SUV but a little bigger than its two-door SUV, VF 3, so it meets local consumer preferences for a spacious vehicle, the source said.
It is still refining the design, this person said, adding that one challenge was striking a balance between the vehicle's size and its cost.
VinFast is targeting the VF X as an entry-level offering for India and wants to price it below $12,000, two of the sources said. That is roughly what it charges for the VF 3 in Vietnam, one of its more affordable models there. In India, plans to locally manufacture the same VF 3 were among those paused.
Meanwhile, the VF 6 currently sold in India is priced at about $19,000 for the base model, and the VF 7 starts at $24,250.
VINFAST IS BETTING BIG ON INDIA
A car priced less than $12,000 will put VinFast in one of the biggest EV segments dominated by Indian automaker Tata Motors TAMO.NS but will also be the hardest to crack.
EV sales in India have been on the rise since the Iran war as gasoline prices increased. Electric models currently make up over 7% of total car sales and the government wants to grow this to 30% by 2030.
Instead of doing everything from scratch, VinFast wants to work with components and tools already available with suppliers in the country to build a new product for India, said a sixth source aware of the company's local plans.
Backed by Vietnam's largest conglomerate Vingroup VIC.HM, VinFast started selling cars in India in September 2025 and has so far retailed about 10,000 vehicles. It has broader ambitions in India, including in real estate, education and healthcare.
Its assembly plant has an initial production capacity of 50,000 cars a year and is scalable to 150,000. VinFast said it has received investment approval for the plant's second phase expansion.
(Reporting by Aditi Shah in New Delhi and Phuong Nguyen in Hanoi, additional reporting by Praveen Pramasivam in Chennai; Editing by David Dolan and Kim Coghill)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
Tata Motors Passenger Vehicles scheduled physical group meetings with analysts and institutional investors for September 11, 2026, at noon and 4pm. The listed participants included Helios Capital Management, Enam Investment & Services, Invesco Mutual Fund, SBI Pension Fund and Nippon India Mutual Fund. The company held a similar physical group meeting with 38 institutions on September 2. Its August 2026 sales totalled 67,753 vehicles, including 65,253 domestic passenger vehicles and 16,549 electric vehicles.
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Tata Motors Passenger Vehicles scheduled physical group meetings with analysts and institutional investors for September 11, 2026, at noon and 4pm. The listed participants included Helios Capital Management, Enam Investment & Services, Invesco Mutual Fund, SBI Pension Fund and Nippon India Mutual Fund. The company held a similar physical group meeting with 38 institutions on September 2. Its August 2026 sales totalled 67,753 vehicles, including 65,253 domestic passenger vehicles and 16,549 electric vehicles.
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JLR, the wholly owned subsidiary of Tata Motors Passenger Vehicles, said it would reduce its global workforce by about 4,000 roles over the next two years as part of a strategic transformation programme. The company said the reductions were not expected to affect direct manufacturing jobs and would be achieved through voluntary means wherever possible, with consultation on the first round beginning immediately. The programme formed part of JLR's Growth Reimagined strategy announced on 19 June, which targeted approximately £1.7 billion of savings over two years and break-even at about 300,000 units, alongside a commitment to invest £15-18 billion over five years. JLR employed 43,000 people globally and accounted for about 81% of Tata Motors Passenger Vehicles' FY26 consolidated revenue of roughly ₹3,35,600 crore.
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JLR, the wholly owned subsidiary of Tata Motors Passenger Vehicles, said it would reduce its global workforce by about 4,000 roles over the next two years as part of a strategic transformation programme. The company said the reductions were not expected to affect direct manufacturing jobs and would be achieved through voluntary means wherever possible, with consultation on the first round beginning immediately. The programme formed part of JLR's Growth Reimagined strategy announced on 19 June, which targeted approximately £1.7 billion of savings over two years and break-even at about 300,000 units, alongside a commitment to invest £15-18 billion over five years. JLR employed 43,000 people globally and accounted for about 81% of Tata Motors Passenger Vehicles' FY26 consolidated revenue of roughly ₹3,35,600 crore.
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Adds exec comment in paragraph 3, details from paragraph 4
By Abhinav Parmar
Sept 7 (Reuters) - Sales of alternative-fuel passenger vehicles outpaced petrol-powered cars in India in August for the first time, an auto dealers' body said on Monday, as the Middle East war raised oil prices and a public backlash against higher-ethanol-content fuel simmered.
Alternative-fuel models, including compressed natural gas, hybrid and electric models, accounted for nearly 42% of passenger-vehicle sales, while petrol vehicles stood at about 41%, according to the Federation of Automobile Dealers Associations (FADA), which represents dealers of major car and two-wheeler makers.
"This shift was bound to happen," Sai Giridhar, FADA vice president, told Reuters.
While E20-related concerns may have initially accelerated buyers' move away from petrol, the trend was being sustained by a wider choice of alternative-fuel models, improved EV range and a gradual expansion of charging infrastructure, he said.
The world's third-largest car market's transition to E20 petrol, which contains 20% ethanol, from E10 is aimed at reducing reliance on imported crude but has drawn criticism from owners of older vehicles, who are concerned that the blend could reduce fuel economy.
The government earlier dismissed the backlash, calling it "wild claims" and asking people to not "fall for the rage bait".
RECORD AUGUST SALES
India's automobile retail sales rose 17.5% year-on-year in August to 2.4 million, a record for the month.
This was despite leading auto companies rolling out price hikes this year to cope with elevated input costs.
Giridhar, however, warned that further price hikes risked eroding gains from last year's tax reforms introduced to fuel consumption.
The country's largest carmaker, Maruti Suzuki India MRTI.NS on Monday said it will raise prices of select models by up to 20,000 rupees ($211.80) from September, its third hike since May.
India is heading into its annual festive season, a period that typically spurs big-ticket purchases.
Giridhar said despite inflationary pressures and price increases, dealers remain optimistic about sales.
Passenger-vehicle inventory increased by five days from end-July levels to about 38–40 days, FADA said.
(Reporting by Abhinav Parmar in Bengaluru; Editing by Sherry Jacob-Phillips and Harikrishnan Nair)
(([email protected];))
Adds exec comment in paragraph 3, details from paragraph 4
By Abhinav Parmar
Sept 7 (Reuters) - Sales of alternative-fuel passenger vehicles outpaced petrol-powered cars in India in August for the first time, an auto dealers' body said on Monday, as the Middle East war raised oil prices and a public backlash against higher-ethanol-content fuel simmered.
Alternative-fuel models, including compressed natural gas, hybrid and electric models, accounted for nearly 42% of passenger-vehicle sales, while petrol vehicles stood at about 41%, according to the Federation of Automobile Dealers Associations (FADA), which represents dealers of major car and two-wheeler makers.
"This shift was bound to happen," Sai Giridhar, FADA vice president, told Reuters.
While E20-related concerns may have initially accelerated buyers' move away from petrol, the trend was being sustained by a wider choice of alternative-fuel models, improved EV range and a gradual expansion of charging infrastructure, he said.
The world's third-largest car market's transition to E20 petrol, which contains 20% ethanol, from E10 is aimed at reducing reliance on imported crude but has drawn criticism from owners of older vehicles, who are concerned that the blend could reduce fuel economy.
The government earlier dismissed the backlash, calling it "wild claims" and asking people to not "fall for the rage bait".
RECORD AUGUST SALES
India's automobile retail sales rose 17.5% year-on-year in August to 2.4 million, a record for the month.
This was despite leading auto companies rolling out price hikes this year to cope with elevated input costs.
Giridhar, however, warned that further price hikes risked eroding gains from last year's tax reforms introduced to fuel consumption.
The country's largest carmaker, Maruti Suzuki India MRTI.NS on Monday said it will raise prices of select models by up to 20,000 rupees ($211.80) from September, its third hike since May.
India is heading into its annual festive season, a period that typically spurs big-ticket purchases.
Giridhar said despite inflationary pressures and price increases, dealers remain optimistic about sales.
Passenger-vehicle inventory increased by five days from end-July levels to about 38–40 days, FADA said.
(Reporting by Abhinav Parmar in Bengaluru; Editing by Sherry Jacob-Phillips and Harikrishnan Nair)
(([email protected];))
LONDON, Sept 6 (Reuters) - Britain's business minister Jonathan Reynolds said he will meet Jaguar Land Rover's CEO this week to discuss job cuts at the country's biggest carmaker, amid reports it is looking to shed 4,000 roles.
Reynolds told the BBC on Sunday that while he wanted to mitigate job losses, the business environment for carmakers was "challenging" in the UK and across Europe.
"If this is about making sure over time that workforce is right to make the business as competitive as possible, that's the conversation we need to have," Reynolds said on Sunday.
JLR, which employs about 30,000 people in Britain and whose largest plant is in Solihull, West Midlands, is owned by India's Tata Motors TAMO.NS. It said in a statement it needed to make £1.7 billion of savings over the next two years and as such it would be opening a voluntary redundancy programme.
TARIFFS AND CHINESE IMPORTS
"We need to adapt to evolving global market conditions," a JLR spokesperson said.
The job cuts would be a setback for Prime Minister Andy Burnham, who took office six weeks ago, and has repeatedly said he wants to "reindustrialise" Britain.
JLR, which also has major sites in central and northern England, has been affected by the fallout from tariffs imposed by U.S. President Donald Trump, as the U.S. is an important market for its luxury Range Rover and Defender models, while competition from Chinese models such as the Jaecoo 7 — ranked third among Britain's top-selling cars — is also hitting sales.
The Times newspaper said 4,000 roles at JLR would be cut over two years through a redundancy programme due to be announced on Monday.
Earlier in September, German carmaker Volkswagen's VOWG_p.DE supervisory board approved a transformation plan that will include cutting 50,000 jobs in its attempt to counter tariffs and Chinese competition.
(Reporting by Sarah Young; Editing by David Holmes)
(([email protected]; +44 20 7542 1109; Reuters Messaging: [email protected]))
LONDON, Sept 6 (Reuters) - Britain's business minister Jonathan Reynolds said he will meet Jaguar Land Rover's CEO this week to discuss job cuts at the country's biggest carmaker, amid reports it is looking to shed 4,000 roles.
Reynolds told the BBC on Sunday that while he wanted to mitigate job losses, the business environment for carmakers was "challenging" in the UK and across Europe.
"If this is about making sure over time that workforce is right to make the business as competitive as possible, that's the conversation we need to have," Reynolds said on Sunday.
JLR, which employs about 30,000 people in Britain and whose largest plant is in Solihull, West Midlands, is owned by India's Tata Motors TAMO.NS. It said in a statement it needed to make £1.7 billion of savings over the next two years and as such it would be opening a voluntary redundancy programme.
TARIFFS AND CHINESE IMPORTS
"We need to adapt to evolving global market conditions," a JLR spokesperson said.
The job cuts would be a setback for Prime Minister Andy Burnham, who took office six weeks ago, and has repeatedly said he wants to "reindustrialise" Britain.
JLR, which also has major sites in central and northern England, has been affected by the fallout from tariffs imposed by U.S. President Donald Trump, as the U.S. is an important market for its luxury Range Rover and Defender models, while competition from Chinese models such as the Jaecoo 7 — ranked third among Britain's top-selling cars — is also hitting sales.
The Times newspaper said 4,000 roles at JLR would be cut over two years through a redundancy programme due to be announced on Monday.
Earlier in September, German carmaker Volkswagen's VOWG_p.DE supervisory board approved a transformation plan that will include cutting 50,000 jobs in its attempt to counter tariffs and Chinese competition.
(Reporting by Sarah Young; Editing by David Holmes)
(([email protected]; +44 20 7542 1109; Reuters Messaging: [email protected]))
Sept 3 (Reuters) - Autoline Industries Ltd AUIN.NS:
AUTOLINE INDUSTRIES LTD - SECURES ORDER WORTH 1 BILLION RUPEES FROM TATA MOTORS PASSENGER VEHICLES
Source text: [ID:]
Further company coverage: AUIN.NS
(([email protected];;))
Sept 3 (Reuters) - Autoline Industries Ltd AUIN.NS:
AUTOLINE INDUSTRIES LTD - SECURES ORDER WORTH 1 BILLION RUPEES FROM TATA MOTORS PASSENGER VEHICLES
Source text: [ID:]
Further company coverage: AUIN.NS
(([email protected];;))
The following factors could affect Italian markets on Wednesday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
DEBT
Italy posted a state sector budget deficit of €12.3 billion ($14.25 billion) in August compared to a shortfall of €204 million in the same month last year, the Treasury said in a statement on Tuesday.
COMPANIES
(*) LOTTOMATICA LTMC.MI
The Italian betting firm will take over Spain's Cirsa CIRSA.MC to create a global gaming player whose top shareholder will be U.S. private equity firm Blackstone BX.N, the two companies said on Wednesday.
(*) SNAM SRG.MI
Italian firms F2i, Edison EDNn.MI and Retina Biometano have been admitted to the final stage of the sale process for Bioenerys, the biomethane unit of the Italian gas grid operator, Il Sole 24 Ore reported on Wednesday. Retina Biometano is reportedly interested in acquiring the whole of Bioenerys, while F2i and Edison are interested in different units of the company, Il Sole added.
(*) ENEL ENEI.MI
Three Indian companies - Purvah Green Power, Inox Clean Energy and Hexa Climate Solutions - have submitted binding bids to acquire 100% of Enel Green Power India, Enel's Indian renewable energy unit, MF daily reported on Wednesday, citing local sources.
Purvah Green Power is a unit of Indian power utility CESC CESC.NS.
(*) AVIO AVI.MI
Berenberg on Wednesday initiated coverage of the rocket maker with a 'hold' rating and a target price of €33.
INTESA SANPAOLO ISP.MI, MONTE DEI PASCHI BMPS.MI
Italy's largest bank does not expect its buyout offer for Monte dei Paschi di Siena to be hampered by defence bids mounted by its takeover target or by clarifications sought by the markets watchdog, a person close to the matter said on Tuesday.
IVECO IVG.MI
The truck-maker said on Tuesday that all prior regulatory approvals had been obtained in connection with the offer launched for it by India's Tata Motors.
STELLANTIS STLAM.MI
The Franco-Italian automaker's new car sales in Italy rose 6.1% in August, the Italian transport ministry reported on Tuesday, outperforming a 3.15% increase in overall Italian car registrations during the month.
BPER BANCA EMII.MI
The lender said on Tuesday it would launch on Sept 2 its share buyback programme and the early termination of the Total Return Swap (TRS) on BPER shares. As part of the programme, BPER ordinary shares may be purchased not exceeding 3% of its share capital, for a maximum total value of €750 million.
LEONARDO LDOF.MI
The Italian defence company on Tuesday named Stefano Villanti as managing director of its helicopters division.
The list of companies comprising Italy's blue chip FTSE MIB stock index is due to be updated on Wednesday.
For Italian market data and news, click on codes in
brackets:
20 biggest gainers (in percentage).............PG.MI
20 biggest losers (in percentage)..............PL.MI
FTSE IT allshare index .FTITLMS
FTSE Mib index........ .FTMIB
FTSE Allstars index... .FTSTAR
FTSE Mid Cap index.... .FTITMC
Stories on Italy...... IT-LEN
For pan-European market data and news, click on codes in
brackets:
European Equities speed guide...................EUR/EQUITY
FTSEurofirst 300 index...............................FTEU3
DJ STOXX index.......................................STOXX
Top 10 STOXX sectors............................PGL.STOXXS
Top 10 EUROSTOXX sectors.......................PGL.STOXXES
Top 10 Eurofirst 300 sectors....................PGL.FTEU3S
Top 25 European pct gainers........................PG.PEUR
Top 25 European pct losers.........................PL.PEUR
Main stock markets:
Dow Jones................DJI Wall Street report ......N
Nikkei 225..............N225 Tokyo report.............T
FTSE 100................FTSE London report............L
Xetra DAX..............GDAXI Frankfurt market stories.F
CAC-40..................FCHI Paris market stories....PA
World Indices.....................................0#.INDEX
Reuters survey of world bourse outlook.........EQUITYPOLL1
Western European IPO diary..........................WEUIPO
European Asset Allocation........................EUR/ASSET
Reuters News at a Glance: Equities...............TOP/EQE
Main currency report:...............................FRX/
The following factors could affect Italian markets on Wednesday.
Reuters has not verified the newspaper reports, and cannot vouch for their accuracy. New items are marked with (*).
DEBT
Italy posted a state sector budget deficit of €12.3 billion ($14.25 billion) in August compared to a shortfall of €204 million in the same month last year, the Treasury said in a statement on Tuesday.
COMPANIES
(*) LOTTOMATICA LTMC.MI
The Italian betting firm will take over Spain's Cirsa CIRSA.MC to create a global gaming player whose top shareholder will be U.S. private equity firm Blackstone BX.N, the two companies said on Wednesday.
(*) SNAM SRG.MI
Italian firms F2i, Edison EDNn.MI and Retina Biometano have been admitted to the final stage of the sale process for Bioenerys, the biomethane unit of the Italian gas grid operator, Il Sole 24 Ore reported on Wednesday. Retina Biometano is reportedly interested in acquiring the whole of Bioenerys, while F2i and Edison are interested in different units of the company, Il Sole added.
(*) ENEL ENEI.MI
Three Indian companies - Purvah Green Power, Inox Clean Energy and Hexa Climate Solutions - have submitted binding bids to acquire 100% of Enel Green Power India, Enel's Indian renewable energy unit, MF daily reported on Wednesday, citing local sources.
Purvah Green Power is a unit of Indian power utility CESC CESC.NS.
(*) AVIO AVI.MI
Berenberg on Wednesday initiated coverage of the rocket maker with a 'hold' rating and a target price of €33.
INTESA SANPAOLO ISP.MI, MONTE DEI PASCHI BMPS.MI
Italy's largest bank does not expect its buyout offer for Monte dei Paschi di Siena to be hampered by defence bids mounted by its takeover target or by clarifications sought by the markets watchdog, a person close to the matter said on Tuesday.
IVECO IVG.MI
The truck-maker said on Tuesday that all prior regulatory approvals had been obtained in connection with the offer launched for it by India's Tata Motors.
STELLANTIS STLAM.MI
The Franco-Italian automaker's new car sales in Italy rose 6.1% in August, the Italian transport ministry reported on Tuesday, outperforming a 3.15% increase in overall Italian car registrations during the month.
BPER BANCA EMII.MI
The lender said on Tuesday it would launch on Sept 2 its share buyback programme and the early termination of the Total Return Swap (TRS) on BPER shares. As part of the programme, BPER ordinary shares may be purchased not exceeding 3% of its share capital, for a maximum total value of €750 million.
LEONARDO LDOF.MI
The Italian defence company on Tuesday named Stefano Villanti as managing director of its helicopters division.
The list of companies comprising Italy's blue chip FTSE MIB stock index is due to be updated on Wednesday.
For Italian market data and news, click on codes in
brackets:
20 biggest gainers (in percentage).............PG.MI
20 biggest losers (in percentage)..............PL.MI
FTSE IT allshare index .FTITLMS
FTSE Mib index........ .FTMIB
FTSE Allstars index... .FTSTAR
FTSE Mid Cap index.... .FTITMC
Stories on Italy...... IT-LEN
For pan-European market data and news, click on codes in
brackets:
European Equities speed guide...................EUR/EQUITY
FTSEurofirst 300 index...............................FTEU3
DJ STOXX index.......................................STOXX
Top 10 STOXX sectors............................PGL.STOXXS
Top 10 EUROSTOXX sectors.......................PGL.STOXXES
Top 10 Eurofirst 300 sectors....................PGL.FTEU3S
Top 25 European pct gainers........................PG.PEUR
Top 25 European pct losers.........................PL.PEUR
Main stock markets:
Dow Jones................DJI Wall Street report ......N
Nikkei 225..............N225 Tokyo report.............T
FTSE 100................FTSE London report............L
Xetra DAX..............GDAXI Frankfurt market stories.F
CAC-40..................FCHI Paris market stories....PA
World Indices.....................................0#.INDEX
Reuters survey of world bourse outlook.........EQUITYPOLL1
Western European IPO diary..........................WEUIPO
European Asset Allocation........................EUR/ASSET
Reuters News at a Glance: Equities...............TOP/EQE
Main currency report:...............................FRX/
Rewrites, adds details, changes media packaging code
By Saikeerthi .
Sept 1 (Reuters) - Indian automakers' sales to dealers advanced in August from a year earlier as demand in Asia's third-largest economy stayed strong heading into the festive season, data showed on Tuesday.
The year-over-year lift was also in part as buyers had held back purchases in August 2025 before New Delhi's tax cuts took effect.
Maruti Suzuki MRTI.NS, India's top automaker by sales, reported a 21.3% increase in total sales in August to 219,220 units. Sales dropped 9.2% sequentially, which the firm attributed to fewer working days.
Rivals Mahindra & Mahindra MAHM.NS, Hyundai Motor India HYUN.NS and Tata Motors Passenger Vehicles TAMO.NS posted sales a rise of 42%, 8.8%, and 56%, respectively, from a year earlier.
Data released on Monday showed India's economy expanded by a steeper-than-expected 7.8% in the April-June quarter as an investment boom and manufacturing strength added to already-solid consumer demand.
The upbeat auto sales come despite elevated fuel prices. India is one of the economies most exposed to oil supply disruptions emanating from the Iran war.
Going ahead, auto sales growth is expected to moderate in the second half of the fiscal year as the "favourable base effect" wanes, according to industry experts.
"This year will be a year of two halves, much like last year. H1 and H2 will have different growth rates," Partho Banerjee, senior executive officer for marketing and sales at Maruti Suzuki, said during a media briefing.
Yash Agrawal, an auto analyst at Nirmal Bang, agreed, but said the moderation in demand would be because of the high base rather than "any weakness in overall consumer optimism."
He added that consumers were advancing vehicle purchases amid concerns that automakers could raise prices further if commodity costs remained elevated.
Auto companies like Maruti, Mahindra, Tata and Hyundai have rolled out multiple price hikes this year to pass on rising costs to buyers.
Vincent K A, a senior research analyst at Geojit Investments, said that "margin pressure remains a concern" for Maruti and the trajectory of exports will be a key factor to watch in the near term.
(Reporting by Saikeerthi in Bengaluru and Praveen Paramasivam in Chennai; Editing by Mrigank Dhaniwala)
(([email protected]; (+91) 8296756080))
Rewrites, adds details, changes media packaging code
By Saikeerthi .
Sept 1 (Reuters) - Indian automakers' sales to dealers advanced in August from a year earlier as demand in Asia's third-largest economy stayed strong heading into the festive season, data showed on Tuesday.
The year-over-year lift was also in part as buyers had held back purchases in August 2025 before New Delhi's tax cuts took effect.
Maruti Suzuki MRTI.NS, India's top automaker by sales, reported a 21.3% increase in total sales in August to 219,220 units. Sales dropped 9.2% sequentially, which the firm attributed to fewer working days.
Rivals Mahindra & Mahindra MAHM.NS, Hyundai Motor India HYUN.NS and Tata Motors Passenger Vehicles TAMO.NS posted sales a rise of 42%, 8.8%, and 56%, respectively, from a year earlier.
Data released on Monday showed India's economy expanded by a steeper-than-expected 7.8% in the April-June quarter as an investment boom and manufacturing strength added to already-solid consumer demand.
The upbeat auto sales come despite elevated fuel prices. India is one of the economies most exposed to oil supply disruptions emanating from the Iran war.
Going ahead, auto sales growth is expected to moderate in the second half of the fiscal year as the "favourable base effect" wanes, according to industry experts.
"This year will be a year of two halves, much like last year. H1 and H2 will have different growth rates," Partho Banerjee, senior executive officer for marketing and sales at Maruti Suzuki, said during a media briefing.
Yash Agrawal, an auto analyst at Nirmal Bang, agreed, but said the moderation in demand would be because of the high base rather than "any weakness in overall consumer optimism."
He added that consumers were advancing vehicle purchases amid concerns that automakers could raise prices further if commodity costs remained elevated.
Auto companies like Maruti, Mahindra, Tata and Hyundai have rolled out multiple price hikes this year to pass on rising costs to buyers.
Vincent K A, a senior research analyst at Geojit Investments, said that "margin pressure remains a concern" for Maruti and the trajectory of exports will be a key factor to watch in the near term.
(Reporting by Saikeerthi in Bengaluru and Praveen Paramasivam in Chennai; Editing by Mrigank Dhaniwala)
(([email protected]; (+91) 8296756080))
Tata Motors Passenger Vehicles scheduled a physical group meeting with analysts and institutional investors for September 2, 2026 at 4 p.m. IST. Participants included Helios Capital Management, Old Bridge Capital Management and a range of domestic mutual funds, pension funds and asset managers. Following the 2025 demerger, the company housed Tata’s India passenger-vehicle business and Jaguar Land Rover. Its latest reported quarter showed consolidated revenue of ₹95,799 crore and profit after tax of ₹859 crore, with JLR accounting for roughly 80% of revenue.
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Tata Motors Passenger Vehicles scheduled a physical group meeting with analysts and institutional investors for September 2, 2026 at 4 p.m. IST. Participants included Helios Capital Management, Old Bridge Capital Management and a range of domestic mutual funds, pension funds and asset managers. Following the 2025 demerger, the company housed Tata’s India passenger-vehicle business and Jaguar Land Rover. Its latest reported quarter showed consolidated revenue of ₹95,799 crore and profit after tax of ₹859 crore, with JLR accounting for roughly 80% of revenue.
Powered by Tijori
Aug 25 (Reuters) - Tata Motors Passenger Vehicles Ltd TAMO.NS:
TATA COMMUNICATIONS - PARTNERS WITH TATA MOTORS PASSENGER VEHICLES FOR SOFTWARE-DEFINED VEHICLE DEPLOYMENT
Source text: ID:nnAZN4TG4PW
Further company coverage: TAMO.NS
(([email protected];))
Aug 25 (Reuters) - Tata Motors Passenger Vehicles Ltd TAMO.NS:
TATA COMMUNICATIONS - PARTNERS WITH TATA MOTORS PASSENGER VEHICLES FOR SOFTWARE-DEFINED VEHICLE DEPLOYMENT
Source text: ID:nnAZN4TG4PW
Further company coverage: TAMO.NS
(([email protected];))
Aug 24 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
The Times
- Britain has agreed to give Ukraine classified blueprints for a long-range missile that can strike deep behind enemy lines ahead of Andy Burnham's first visit to the country since becoming prime minister.
- A further £37 million ($50.51 million) has been injected into the troubled Bank of London amid warnings from the loss-making fintech about its future.
The Guardian
- Russia has withdrawn its ambassador to the UK, with Andrey Kelin leaving last month after seven years in the diplomatic post.
- Train operator CrossCountry cancelled almost all of its train services in Britain on Sunday after a power cut in Birmingham hit its control centre.
The Telegraph
- Jaguar Land Rover has delayed the rollout of its all-electric Defender model as the carmaker embarks on a cost-cutting drive.
Sky News
- Energy solutions provider Aggreko intends to file a registration statement for an initial public offering with American regulators in the coming days.
($1 = 0.7325 pounds)
(Compiled by Bengaluru newsroom)
Aug 24 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
The Times
- Britain has agreed to give Ukraine classified blueprints for a long-range missile that can strike deep behind enemy lines ahead of Andy Burnham's first visit to the country since becoming prime minister.
- A further £37 million ($50.51 million) has been injected into the troubled Bank of London amid warnings from the loss-making fintech about its future.
The Guardian
- Russia has withdrawn its ambassador to the UK, with Andrey Kelin leaving last month after seven years in the diplomatic post.
- Train operator CrossCountry cancelled almost all of its train services in Britain on Sunday after a power cut in Birmingham hit its control centre.
The Telegraph
- Jaguar Land Rover has delayed the rollout of its all-electric Defender model as the carmaker embarks on a cost-cutting drive.
Sky News
- Energy solutions provider Aggreko intends to file a registration statement for an initial public offering with American regulators in the coming days.
($1 = 0.7325 pounds)
(Compiled by Bengaluru newsroom)
Adds details from paragraph 2 onwards
Aug 21 (Reuters) - India's Tata Motors Passenger Vehicles TAMO.NS will raise prices of cars and SUVs across its portfolio by up to 25,000 rupees ($261.23) from September 1, the car maker said on Friday, with the extent of the hike varying by model and variant.
Here are some details:
The Nexon EV maker said the price increase aimed to partially offset rising input costs and persistent commodity inflation amid continued geopolitical uncertainty.
Indian automakers have increasingly raised vehicle prices this year as cost pressures persist. Rival Hyundai Motor India HYUN.NS on Wednesday announced its third price increase of 2026, while market leader Maruti Suzuki MRTI.NS has implemented two portfolio-wide hikes in recent months.
Auto makers have cited inflationary pressures, higher commodity prices, elevated operating costs, and disruptions to global trade and energy markets linked to the Iran war as factors driving up costs.
The car maker said it had sought to absorb rising costs but was now passing on part of the burden to customers through the latest revision.
The increase marks the auto maker's third price hike this year, after a 0.5% raise in its internal combustion engine portfolio from April 1 and a further 1.5% increase across its portfolio from July 1.
($1 = 95.7000 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Rashmi Aich)
(([email protected]; 8800437922;))
Adds details from paragraph 2 onwards
Aug 21 (Reuters) - India's Tata Motors Passenger Vehicles TAMO.NS will raise prices of cars and SUVs across its portfolio by up to 25,000 rupees ($261.23) from September 1, the car maker said on Friday, with the extent of the hike varying by model and variant.
Here are some details:
The Nexon EV maker said the price increase aimed to partially offset rising input costs and persistent commodity inflation amid continued geopolitical uncertainty.
Indian automakers have increasingly raised vehicle prices this year as cost pressures persist. Rival Hyundai Motor India HYUN.NS on Wednesday announced its third price increase of 2026, while market leader Maruti Suzuki MRTI.NS has implemented two portfolio-wide hikes in recent months.
Auto makers have cited inflationary pressures, higher commodity prices, elevated operating costs, and disruptions to global trade and energy markets linked to the Iran war as factors driving up costs.
The car maker said it had sought to absorb rising costs but was now passing on part of the burden to customers through the latest revision.
The increase marks the auto maker's third price hike this year, after a 0.5% raise in its internal combustion engine portfolio from April 1 and a further 1.5% increase across its portfolio from July 1.
($1 = 95.7000 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru; Editing by Rashmi Aich)
(([email protected]; 8800437922;))
Updates to add details paragraph 2 onwards
Aug 19 (Reuters) - Hyundai Motor India HYUN.NS said on Wednesday it will increase vehicle prices by up to 1% across its portfolio from September this year, with the extent of the hike varying by model and variant.
Here are the details:
The company attributed the increase to rising input and commodity costs, higher operational expenses, and continuing geopolitical and macroeconomic uncertainties
Hyundai said it has been attempting to absorb cost increases and optimize expenses but is now passing on part of the burden to customers through a marginal price revision
The latest increase marks Hyundai's third price hike announcement of 2026. The automaker raised prices by 0.6% from January 1 and in April announced a further increase of up to 1% effective May. That increase was later implemented from June 1, with prices rising by up to 12,800 rupees ($133.68) depending on the model and variant
India's automakers have increasingly raised prices this year as cost pressures persist. Maruti Suzuki MRTI.NS has announced two portfolio-wide price increases in recent months, while Tata Motors Passenger Vehicles TAMO.NS has also raised prices
Automakers have pointed to inflationary pressures, higher commodity prices, elevated operating costs and disruptions to global trade routes and energy markets stemming from geopolitical tensions as factors weighing on costs.
($1 = 95.7525 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
Updates to add details paragraph 2 onwards
Aug 19 (Reuters) - Hyundai Motor India HYUN.NS said on Wednesday it will increase vehicle prices by up to 1% across its portfolio from September this year, with the extent of the hike varying by model and variant.
Here are the details:
The company attributed the increase to rising input and commodity costs, higher operational expenses, and continuing geopolitical and macroeconomic uncertainties
Hyundai said it has been attempting to absorb cost increases and optimize expenses but is now passing on part of the burden to customers through a marginal price revision
The latest increase marks Hyundai's third price hike announcement of 2026. The automaker raised prices by 0.6% from January 1 and in April announced a further increase of up to 1% effective May. That increase was later implemented from June 1, with prices rising by up to 12,800 rupees ($133.68) depending on the model and variant
India's automakers have increasingly raised prices this year as cost pressures persist. Maruti Suzuki MRTI.NS has announced two portfolio-wide price increases in recent months, while Tata Motors Passenger Vehicles TAMO.NS has also raised prices
Automakers have pointed to inflationary pressures, higher commodity prices, elevated operating costs and disruptions to global trade routes and energy markets stemming from geopolitical tensions as factors weighing on costs.
($1 = 95.7525 Indian rupees)
(Reporting by Surbhi Misra in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
Adds details paragraph 3 onwards
Aug 18 (Reuters) - India's Tata Sons TATO.NS has adjourned its annual general meeting that was scheduled for August 18, a source with direct knowledge of the matter told Reuters on Tuesday.
The postponement comes days after Chairman N. Chandrasekaran said he would not seek reappointment when his term ends in February 2027, following months of disagreements with Tata Trusts, the group holding company Tata Sons' controlling shareholder.
Tata Trusts set up a selection committee last week to recommend a new chairman for Tata Sons. The trusts hold a controlling stake in Tata Sons and appoint a third of its directors, who have veto powers over key decisions.
Tata Trusts and Tata Sons did not immediately respond to Reuters' requests for comment.
The succession process is one of the most significant decisions facing the 158-year-old conglomerate, whose listed companies have a combined market value of about $277 billion.
Tata Sons is also facing pressure from minority shareholder Shapoorji Pallonji Group to pursue a public listing, an issue on which Tata Trusts and its chairman, Noel Tata, are expected to have significant influence.
(Reporting by Surbhi Misra, Kashish Tandon and Mridula Kumar in Bengaluru; Editing by Rashmi Aich and Ronojoy Mazumdar)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
Adds details paragraph 3 onwards
Aug 18 (Reuters) - India's Tata Sons TATO.NS has adjourned its annual general meeting that was scheduled for August 18, a source with direct knowledge of the matter told Reuters on Tuesday.
The postponement comes days after Chairman N. Chandrasekaran said he would not seek reappointment when his term ends in February 2027, following months of disagreements with Tata Trusts, the group holding company Tata Sons' controlling shareholder.
Tata Trusts set up a selection committee last week to recommend a new chairman for Tata Sons. The trusts hold a controlling stake in Tata Sons and appoint a third of its directors, who have veto powers over key decisions.
Tata Trusts and Tata Sons did not immediately respond to Reuters' requests for comment.
The succession process is one of the most significant decisions facing the 158-year-old conglomerate, whose listed companies have a combined market value of about $277 billion.
Tata Sons is also facing pressure from minority shareholder Shapoorji Pallonji Group to pursue a public listing, an issue on which Tata Trusts and its chairman, Noel Tata, are expected to have significant influence.
(Reporting by Surbhi Misra, Kashish Tandon and Mridula Kumar in Bengaluru; Editing by Rashmi Aich and Ronojoy Mazumdar)
(([email protected] | X: https://twitter.com/SurbhiMisra_ |;))
Aug 14 (Reuters) - Shares of Tata Motors Passenger Vehicles TAMO.NS fell 4.8% to 332.1 rupees on Friday after the company's luxury unit, Jaguar Land Rover, reported lower quarterly volumes and high margin pressure, driving an 80% drop in quarterly net profit and weighing on investor sentiment.
(Reporting by Saikeerthi in Bengaluru; Editing by Harikrishnan Nair)
(([email protected]; (+91) 8296756080))
Aug 14 (Reuters) - Shares of Tata Motors Passenger Vehicles TAMO.NS fell 4.8% to 332.1 rupees on Friday after the company's luxury unit, Jaguar Land Rover, reported lower quarterly volumes and high margin pressure, driving an 80% drop in quarterly net profit and weighing on investor sentiment.
(Reporting by Saikeerthi in Bengaluru; Editing by Harikrishnan Nair)
(([email protected]; (+91) 8296756080))
Aug 13 (Reuters) -
INDIA'S TATA TRUSTS: TRUSTEES OF DORABJI TATA TRUST PASSED RESOLUTION TO INITIATE SETTING UP SELECTION COMMITTEE FOR RECOMMENDING A PERSON FOR APPOINTMENT AS NEW CHAIR
Source text: [ID:]
Further company coverage: TAMO.NS
(([email protected];))
Aug 13 (Reuters) -
INDIA'S TATA TRUSTS: TRUSTEES OF DORABJI TATA TRUST PASSED RESOLUTION TO INITIATE SETTING UP SELECTION COMMITTEE FOR RECOMMENDING A PERSON FOR APPOINTMENT AS NEW CHAIR
Source text: [ID:]
Further company coverage: TAMO.NS
(([email protected];))
Aug 12 (Reuters) - Tata Group stocks fell up to 4% on Wednesday after Reuters reported that Tata Sons Chairman N. Chandrasekaran had resigned, sparking a selloff across the conglomerate's listed companies.
India's top IT services exporter, Tata Consultancy Services TCS.NS, led the losses, sliding 4.1%, while Jaguar Land Rover-parent Tata Motors PV TAMO.NS fell 2.8%.
Chandrasekaran has resigned as chairman of Tata Sons but will serve out his current term, Reuters reported on Wednesday, citing a source with direct knowledge of the matter.
(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; 8800437922;))
Aug 12 (Reuters) - Tata Group stocks fell up to 4% on Wednesday after Reuters reported that Tata Sons Chairman N. Chandrasekaran had resigned, sparking a selloff across the conglomerate's listed companies.
India's top IT services exporter, Tata Consultancy Services TCS.NS, led the losses, sliding 4.1%, while Jaguar Land Rover-parent Tata Motors PV TAMO.NS fell 2.8%.
Chandrasekaran has resigned as chairman of Tata Sons but will serve out his current term, Reuters reported on Wednesday, citing a source with direct knowledge of the matter.
(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; 8800437922;))
Rewrites throughout with comments from FADA's vice president
By Kashish Tandon and Abhinav Parmar
Aug 6 (Reuters) - Consumer uncertainty over India's transition to E20 petrol is pushing some buyers toward vehicles powered by alternative fuels, a senior industry official said on Thursday.
Sales of alternative-fuel passenger vehicles, including CNG, hybrid and electric models, came within "striking distance" of petrol models in July, according to the Federation of Automobile Dealers Associations (FADA).
These vehicles accounted for 40.59% of total sales in July, just 1.09 percentage points behind petrol-powered vehicles at 41.68%.
India's petroleum and road transport ministries did not immediately respond to Reuters' requests for comment.
The shift comes amid concerns surrounding India's nationwide rollout of E20 petrol, which contains 20% ethanol, a plant-derived alcohol mixed into petrol to reduce dependence on imported crude oil. The policy replaced the earlier E10 variant.
The transition has drawn criticism from some consumers, who say the higher ethanol blend affects fuel efficiency and vehicle performance, particularly in older vehicles not designed for E20 fuel.
"What we are seeing is more consumer queries than complaints," Sai Giridhar, vice president of FADA, told Reuters, adding that dealers have not received a single complaint linking vehicle issues to E20 fuel despite servicing thousands of models every month.
Petrol-powered share of passenger vehicle sales fell to about 41% from 47.6% a year earlier, while diesel's share remained largely unchanged at about 18%, Giridhar said.
As petrol's share declined, CNG and electric vehicles gained ground. CNG's share rose to about 24% from 21% a year earlier, while EVs accounted for nearly 8% of sales, up from about 5%, he added.
Giridhar said dealer surveys suggest some consumers are delaying purchases of petrol vehicles or exploring alternative-fuel options because of concerns around E20, fuel economy and vehicle compatibility.
He attributed much of the anxiety to misinformation and a lack of awareness, saying automakers and dealers were initially unprepared for the volume of customer queries surrounding the fuel transition.
FADA said while passenger vehicles enter August with healthy pipelines and fresh launches, clearer communication around the E20 rollout could help convert hesitant buyers.
Overall passenger vehicle retail sales rose 19.1% year-on-year to 416,555 units in July, helped by tax-cut-led demand and new model launches, FADA added.
(Reporting by Kashish Tandon and Abhinav Parmar in Bengaluru; Editing by Sonia Cheema)
(([email protected]; 8800437922;))
Rewrites throughout with comments from FADA's vice president
By Kashish Tandon and Abhinav Parmar
Aug 6 (Reuters) - Consumer uncertainty over India's transition to E20 petrol is pushing some buyers toward vehicles powered by alternative fuels, a senior industry official said on Thursday.
Sales of alternative-fuel passenger vehicles, including CNG, hybrid and electric models, came within "striking distance" of petrol models in July, according to the Federation of Automobile Dealers Associations (FADA).
These vehicles accounted for 40.59% of total sales in July, just 1.09 percentage points behind petrol-powered vehicles at 41.68%.
India's petroleum and road transport ministries did not immediately respond to Reuters' requests for comment.
The shift comes amid concerns surrounding India's nationwide rollout of E20 petrol, which contains 20% ethanol, a plant-derived alcohol mixed into petrol to reduce dependence on imported crude oil. The policy replaced the earlier E10 variant.
The transition has drawn criticism from some consumers, who say the higher ethanol blend affects fuel efficiency and vehicle performance, particularly in older vehicles not designed for E20 fuel.
"What we are seeing is more consumer queries than complaints," Sai Giridhar, vice president of FADA, told Reuters, adding that dealers have not received a single complaint linking vehicle issues to E20 fuel despite servicing thousands of models every month.
Petrol-powered share of passenger vehicle sales fell to about 41% from 47.6% a year earlier, while diesel's share remained largely unchanged at about 18%, Giridhar said.
As petrol's share declined, CNG and electric vehicles gained ground. CNG's share rose to about 24% from 21% a year earlier, while EVs accounted for nearly 8% of sales, up from about 5%, he added.
Giridhar said dealer surveys suggest some consumers are delaying purchases of petrol vehicles or exploring alternative-fuel options because of concerns around E20, fuel economy and vehicle compatibility.
He attributed much of the anxiety to misinformation and a lack of awareness, saying automakers and dealers were initially unprepared for the volume of customer queries surrounding the fuel transition.
FADA said while passenger vehicles enter August with healthy pipelines and fresh launches, clearer communication around the E20 rollout could help convert hesitant buyers.
Overall passenger vehicle retail sales rose 19.1% year-on-year to 416,555 units in July, helped by tax-cut-led demand and new model launches, FADA added.
(Reporting by Kashish Tandon and Abhinav Parmar in Bengaluru; Editing by Sonia Cheema)
(([email protected]; 8800437922;))
Automakers warn government of ethanol fuel contamination
E20 rollout sparks complaints of vehicle damage, lower mileage
Officials dismiss concerns as misinformation, see few signs
By Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh
NEW DELHI, Aug 5 (Reuters) - India's auto industry said it would revamp numbers furnished to the government as it withdrew its first warning of damage to vehicle parts caused by contaminated ethanol-blended fuel, stoking consumer anger over the contentious policy.
Tuesday's move came hours after media reported the group's warning, sparking public uproar and forcing the petroleum ministry to issue a clarification.
"The referred numbers reported in the media need authentication," the Society of Indian Automobile Manufacturers said in a statement, "... and therefore SIAM is withdrawing its earlier communication."
SIAM, which sent its warning on July 28, and the recipient, India's petroleum ministry, did not immediately respond to requests for comment.
With their letter, seen by Reuters, India's automakers accept for the first time issues stemming from a mandatory policy that sparked street protests, legal cases and consumer anger after the government rolled it out at 90,000 fuel pumps.
The lobby group did not deny the issue of contamination in its statement, but said some numbers quoted "need authentication through collection of elaborate data ... across the country followed by a comprehensive consultation".
The group, whose members include Maruti Suzuki, Tata Motors, Toyota Motor Corp and Mercedes Benz, did not say when the efforts would be completed, however.
QUESTIONS FROM VEHICLE OWNERS
Vehicle owners are at best sceptical about the U-turn.
"Did the science change overnight, or did the ministry call?" Nachiket Deshpande, one of dozens of angry social media users, asked on X.
The policy of blending 20% ethanol in petrol to yield a product called E20 replaced E10 nationwide in 2025.
That was well ahead of a 2030 deadline as Prime Minister Narendra Modi's government sought to cut costly petroleum imports, although E20-compliant cars had only begun hitting the roads in 2023.
The rollout provoked uproar instead among consumers who blame the fuel for mileage drops and vehicle damage, with many demanding a choice of lower ethanol blends, particularly for vehicles that cannot use E20.
The government sought to soothe the concerns with press statements and social media campaigns, drafting in executives from leading carmakers such as Maruti and Hyundai to defend the roll-out at a July press conference.
WARNINGS OF CORROSION OR WEAR
In its missive to the ministry, the group warned of elevated chloride and moisture levels in E20 fuel sold at retail outlets nationwide.
"Members are observing a huge increase in the issues in customer vehicle parts and replacement. Investigations ... reveal the failure is due to corrosion or wear caused by high chloride presence which is traced to the fuel used," it said.
Car parts in direct contact with the fuel or engine emissions suffered the most, "specifically after E20 implementation", it added.
It also flagged high moisture levels in the fuel that it said could immobilise the vehicle immediately after fuelling, calling on the ministry for tougher quality checks against contamination.
Fuel quality is monitored on a regular basis by oil marketing companies and only two cases of chloride contamination were found in a sample of 2,000 tests, the ministry had said on social media on Tuesday.
Speaking to Reuters on condition of anonymity on Wednesday, a senior government official called the fuel concerns a "misinformation campaign" against E20, playing out mainly on social media with no real evidence in cars on the road.
(Reporting by Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh; Additional reporting by Aditya Kalra; Editing by Clarence Fernandez)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
Automakers warn government of ethanol fuel contamination
E20 rollout sparks complaints of vehicle damage, lower mileage
Officials dismiss concerns as misinformation, see few signs
By Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh
NEW DELHI, Aug 5 (Reuters) - India's auto industry said it would revamp numbers furnished to the government as it withdrew its first warning of damage to vehicle parts caused by contaminated ethanol-blended fuel, stoking consumer anger over the contentious policy.
Tuesday's move came hours after media reported the group's warning, sparking public uproar and forcing the petroleum ministry to issue a clarification.
"The referred numbers reported in the media need authentication," the Society of Indian Automobile Manufacturers said in a statement, "... and therefore SIAM is withdrawing its earlier communication."
SIAM, which sent its warning on July 28, and the recipient, India's petroleum ministry, did not immediately respond to requests for comment.
With their letter, seen by Reuters, India's automakers accept for the first time issues stemming from a mandatory policy that sparked street protests, legal cases and consumer anger after the government rolled it out at 90,000 fuel pumps.
The lobby group did not deny the issue of contamination in its statement, but said some numbers quoted "need authentication through collection of elaborate data ... across the country followed by a comprehensive consultation".
The group, whose members include Maruti Suzuki, Tata Motors, Toyota Motor Corp and Mercedes Benz, did not say when the efforts would be completed, however.
QUESTIONS FROM VEHICLE OWNERS
Vehicle owners are at best sceptical about the U-turn.
"Did the science change overnight, or did the ministry call?" Nachiket Deshpande, one of dozens of angry social media users, asked on X.
The policy of blending 20% ethanol in petrol to yield a product called E20 replaced E10 nationwide in 2025.
That was well ahead of a 2030 deadline as Prime Minister Narendra Modi's government sought to cut costly petroleum imports, although E20-compliant cars had only begun hitting the roads in 2023.
The rollout provoked uproar instead among consumers who blame the fuel for mileage drops and vehicle damage, with many demanding a choice of lower ethanol blends, particularly for vehicles that cannot use E20.
The government sought to soothe the concerns with press statements and social media campaigns, drafting in executives from leading carmakers such as Maruti and Hyundai to defend the roll-out at a July press conference.
WARNINGS OF CORROSION OR WEAR
In its missive to the ministry, the group warned of elevated chloride and moisture levels in E20 fuel sold at retail outlets nationwide.
"Members are observing a huge increase in the issues in customer vehicle parts and replacement. Investigations ... reveal the failure is due to corrosion or wear caused by high chloride presence which is traced to the fuel used," it said.
Car parts in direct contact with the fuel or engine emissions suffered the most, "specifically after E20 implementation", it added.
It also flagged high moisture levels in the fuel that it said could immobilise the vehicle immediately after fuelling, calling on the ministry for tougher quality checks against contamination.
Fuel quality is monitored on a regular basis by oil marketing companies and only two cases of chloride contamination were found in a sample of 2,000 tests, the ministry had said on social media on Tuesday.
Speaking to Reuters on condition of anonymity on Wednesday, a senior government official called the fuel concerns a "misinformation campaign" against E20, playing out mainly on social media with no real evidence in cars on the road.
(Reporting by Aditi Shah, Arpan Chaturvedi and Sarita Chaganti Singh; Additional reporting by Aditya Kalra; Editing by Clarence Fernandez)
(([email protected]; +91-11-4954 8023, +91-11-3015 8023; Reuters Messaging: twitter: @aditishahsays))
- Iveco Group’s Chief Financial & IT Officer Anna Tanganelli will leave on Nov. 2, 2026, tied to completion of Tata Motors’ tender offer.
- A search for a new CFO is underway.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Iveco Group NV published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607300130OMX_____CNEWS_EN_GNW1001255147_en) on July 30, 2026, and is solely responsible for the information contained therein.
- Iveco Group’s Chief Financial & IT Officer Anna Tanganelli will leave on Nov. 2, 2026, tied to completion of Tata Motors’ tender offer.
- A search for a new CFO is underway.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Iveco Group NV published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607300130OMX_____CNEWS_EN_GNW1001255147_en) on July 30, 2026, and is solely responsible for the information contained therein.
July 27 (Reuters) - Tata Motors Passenger Vehicles Ltd TAMO.NS:
TATA MOTORS PASSENGER VEHICLES - TEMPORARY DISRUPTION OF OPERATIONS AT SANAND PLANTS, GUJARAT
TATA MOTORS PASSENGER VEHICLES - REMAIN CONFIDENT THAT WE WILL BE ABLE TO RESTORE NORMALCY OVER THE NEXT FEW DAYS
TATA MOTORS PASSENGER VEHICLES - SEVERE DISRUPTION ON ACCOUNT OF FLOODING CAUSED BY HEAVY RAINFALL
TATA MOTORS PASSENGER VEHICLES - QUANTUM OF LOSS/DAMAGE CAUSED BEING ASSESSED
Source text: [ID:]
Further company coverage: TAMO.NS
(([email protected];;))
July 27 (Reuters) - Tata Motors Passenger Vehicles Ltd TAMO.NS:
TATA MOTORS PASSENGER VEHICLES - TEMPORARY DISRUPTION OF OPERATIONS AT SANAND PLANTS, GUJARAT
TATA MOTORS PASSENGER VEHICLES - REMAIN CONFIDENT THAT WE WILL BE ABLE TO RESTORE NORMALCY OVER THE NEXT FEW DAYS
TATA MOTORS PASSENGER VEHICLES - SEVERE DISRUPTION ON ACCOUNT OF FLOODING CAUSED BY HEAVY RAINFALL
TATA MOTORS PASSENGER VEHICLES - QUANTUM OF LOSS/DAMAGE CAUSED BEING ASSESSED
Source text: [ID:]
Further company coverage: TAMO.NS
(([email protected];;))
An earlier version of this story incorrectly stated that Maruti Suzuki is selling fewer cars. It sold 1.82 million units in India in the latest fiscal year, up from a pre-COVID high of 1.73 million.
Maruti Suzuki found it hard to adapt cost-focused culture to tastes of increasingly wealthy Indians
Japanese-owned carmaker slow to roll out popular features like sunroofs and advanced technology, as well as SUVs
Company's market share hovers around 39%, near an all-time low; CEO targets 50%
Firm is spending more on R&D and increasing autonomy of local managers - sources
By Aditi Shah
NEW DELHI, July 20 (Reuters) - For some 40 years, Suzuki cars dominated India's roads.
The Japanese company's relentless focus on keeping prices and running costs low put millions of people behind the wheel. Hatchbacks made by its Indian arm Maruti Suzuki commanded between half and four-fifths of the country's new car sales in recent decades.
But as Indians got richer, they gravitated to bigger and flashier rides – and the automaker's emphasis on affordability started to become a drag. Maruti Suzuki's share of the world's third-largest autos market now lingers at around 39%, near an all-time low.
Suzuki's struggles reflect how cost-sensitive managers in Japan were slow to adapt to the changing tastes of newly affluent Indians, four people familiar with its business told Reuters. Executives, the people said, for years felt that demand for sunroofs, advanced technology and SUVs hadn't trumped questions of affordability for Indians.
Reuters is reporting for the first time details about the deliberations between Indian and Japanese executives at Suzuki as they struggled to pivot beyond a long-successful strategy that emphasized value before almost everything else.
Maruti Suzuki managers first floated the idea of adding sunroofs about a decade ago, the people said. But Japanese bosses considered the feature – which has become a symbol of upward mobility in India – impractical given India's extreme heat and dusty roads. They worried that adding a more powerful air conditioning unit and strengthening the cabin to accommodate the panel would increase costs and distract from Suzuki's mission of providing affordable transport.
The carmaker didn't introduce sunroofs until 2022. By then, fast-growing domestic rivals Tata Motors and Mahindra & Mahindra — which both currently have a market share of around 14% — had sunroofs as standard features on between a quarter and a third of their cars sold in India, according to data from auto research firm JATO Dynamics.
This account of the missteps that eroded Suzuki's iron grip on India and its subsequent efforts to woo customers back is based on interviews with more than 20 people, including executives, suppliers and others with direct knowledge of the automaker and its Indian business. Most spoke on condition of anonymity because they were not allowed to talk to the media.
Maruti's head of corporate affairs, Rahul Bharti, said in an interview that Japanese managers were not reluctant to embrace the changing tastes of local customers. Instead, he said, they had prioritized factors such as cost and climate, as well as emissions and safety considerations.
Indian and Japanese executives engage in "extensive" talks before introducing products and new features, Bharti said. Maruti's market share had declined recently because of a collapse in demand for small cars, the automaker's slow rollout of SUVs and its 2020 decision to stop selling diesel cars, he added.
While it is committed to building affordable and compact models, Suzuki has now directed local managers to "pay more attention to the Indian customer," Bharti said.
Tata and Mahindra did not return requests for comment.
To be sure, Maruti Suzuki still runs a lucrative business in India. Revenue has more than doubled over the last five years to $19 billion and profit tripled to $1.5 billion as margins improved. About 60% of the 3.3 million cars Suzuki sold in the last financial year were in India, and Maruti contributed nearly half of its profits.
But while it is making more money, the company has fallen short of chief executive Toshihiro Suzuki's goal of owning half the market.
Maruti Suzuki also risks being seen by younger drivers as a "brand for their parents or grandparents," said Toshihide Kinoshita, an automotive analyst at Nomura Securities.
In India, the typical buyer of a new car is in their mid-30s. The average age in the United States is 51, according to data from Cox Automotive.
THE PEOPLE'S CAR
Japanese car manufacturers increasingly see India, the world's fastest-growing major economy, as a lifeline.
Many face an existential threat in traditional strongholds like Southeast Asia from the low costs and fast-paced innovation of Chinese rivals. They are also being squeezed by tariffs in the United States and slow growth at home as Japan's population shrinks.
Chinese EV makers, however, are largely shut out of India, which has increased scrutiny of investments from China after a deadly border clash between the two countries in 2020. Japanese carmakers sense the opportunity: Toyota and Suzuki have announced plans to spend a cumulative $11 billion to expand manufacturing and other operations in India by 2030.
Maruti Suzuki is now a symbol of Prime Minister Narendra Modi's push to turn India into a global manufacturing hub.
Suzuki first invested in Maruti in the early 1980s when the Indian brand was state-owned. Then-Prime Minister Indira Gandhi wanted to provide a "people's car" to fulfill the dream of her late son Sanjay, an autos enthusiast who had sought to bring affordable mobility to the middle class.
The Maruti 800 arrived in 1983. It was priced at around $9,000 in inflation-adjusted dollars and became synonymous with India's modernization. Over three decades, Maruti sold nearly 3 million of the small hatchbacks. Such was the scale of Suzuki's dominance in India that its former CEO Osamu Suzuki said he aimed to keep a 50% market share "for eternity."
India's economy has grown some 18-fold since Suzuki entered the market. Yet Suzuki's cost-control culture meant managers initially faced resistance when they lobbied to offer advanced driver assistance systems that Mahindra introduced around 2021, some four years before Maruti, three people said.
For many buyers, the modernity and aspiration that Maruti once represented is found in Tata and Mahindra's feature-laden SUVs, rather than Maruti's workaday models. Maruti does not have "the bells and whistles" that customers now want, said JATO Dynamics president Ravi Bhatia.
One erstwhile loyalist looking elsewhere is Anil Tiwari, who is seeking a car to supplement his family's 17-year-old Maruti Alto hatchback. The insurance agent has narrowed his choices down to a Mahindra or Toyota SUV after his wife and children demanded a sunroof and a large infotainment display, among other technologies.
"My wife and children want the best," he said.
FIGHTBACK?
Maruti has been here before. Its market share dipped below 40% in 2011, though newer models and an expanded sales network helped it recover.
This time, competition is fiercer. Better equipped rivals and the fall in market share mean Suzuki now faces its toughest situation in India "in the last 40 years," chief executive Suzuki told reporters at the Tokyo auto show last year.
In an attempt to regain dominance, Suzuki is expanding R&D teams at Maruti and giving executives flexibility to make more decisions locally, five people told Reuters. It aims to cut the average product development time to 36 months from 48 months, four sources added.
Maruti has also built more car-testing labs in India to speed up design and execution, Bharti told Reuters.
Maruti has introduced pricier and more design-forward cars, including a three-row minivan that starts at about $25,000. It plans seven more SUVs by 2030, which will join a recently released model that has a sunroof and advanced driver assistance systems.
The brand is also reversing its decision not to use large display screens in some vehicles, according to three sources, who said Japanese executives had felt they would be a distraction for drivers.
Bharti confirmed that Maruti and Suzuki executives had discussed those concerns. Large displays and similar features are always "on the cards," he said, though the company continues to weigh customer demand against the realities of Indian driving conditions.
One open question is whether Maruti's more expensive cars will sell. The brand's association with affordability means Indians willing to spend more usually don't consider Maruti, six people told Reuters. Less than 3% of Maruti's sales come from cars priced above $15,500, compared with over 21% for the rest of the industry, according to JATO Dynamics.
That perception is shaping the choice for buyers like Deepanshu Singhal, a sales executive who plans to upgrade to a Mahindra or Toyota SUV from the Maruti Dzire sedan he has driven for seven years.
"I'd rather spend a little more money for a better car that has some freshness and newness," he said.
(Reporting by Aditi Shah; Additional reporting by Daniel Leussink in Tokyo, Saurabh Sharma in New Delhi, Sumit Khanna in Ahmedabad and Jatindra Dash in Bhubaneswar; Editing by David Dolan and Katerina Ang)
(([email protected], X:@aditishahsays))
An earlier version of this story incorrectly stated that Maruti Suzuki is selling fewer cars. It sold 1.82 million units in India in the latest fiscal year, up from a pre-COVID high of 1.73 million.
Maruti Suzuki found it hard to adapt cost-focused culture to tastes of increasingly wealthy Indians
Japanese-owned carmaker slow to roll out popular features like sunroofs and advanced technology, as well as SUVs
Company's market share hovers around 39%, near an all-time low; CEO targets 50%
Firm is spending more on R&D and increasing autonomy of local managers - sources
By Aditi Shah
NEW DELHI, July 20 (Reuters) - For some 40 years, Suzuki cars dominated India's roads.
The Japanese company's relentless focus on keeping prices and running costs low put millions of people behind the wheel. Hatchbacks made by its Indian arm Maruti Suzuki commanded between half and four-fifths of the country's new car sales in recent decades.
But as Indians got richer, they gravitated to bigger and flashier rides – and the automaker's emphasis on affordability started to become a drag. Maruti Suzuki's share of the world's third-largest autos market now lingers at around 39%, near an all-time low.
Suzuki's struggles reflect how cost-sensitive managers in Japan were slow to adapt to the changing tastes of newly affluent Indians, four people familiar with its business told Reuters. Executives, the people said, for years felt that demand for sunroofs, advanced technology and SUVs hadn't trumped questions of affordability for Indians.
Reuters is reporting for the first time details about the deliberations between Indian and Japanese executives at Suzuki as they struggled to pivot beyond a long-successful strategy that emphasized value before almost everything else.
Maruti Suzuki managers first floated the idea of adding sunroofs about a decade ago, the people said. But Japanese bosses considered the feature – which has become a symbol of upward mobility in India – impractical given India's extreme heat and dusty roads. They worried that adding a more powerful air conditioning unit and strengthening the cabin to accommodate the panel would increase costs and distract from Suzuki's mission of providing affordable transport.
The carmaker didn't introduce sunroofs until 2022. By then, fast-growing domestic rivals Tata Motors and Mahindra & Mahindra — which both currently have a market share of around 14% — had sunroofs as standard features on between a quarter and a third of their cars sold in India, according to data from auto research firm JATO Dynamics.
This account of the missteps that eroded Suzuki's iron grip on India and its subsequent efforts to woo customers back is based on interviews with more than 20 people, including executives, suppliers and others with direct knowledge of the automaker and its Indian business. Most spoke on condition of anonymity because they were not allowed to talk to the media.
Maruti's head of corporate affairs, Rahul Bharti, said in an interview that Japanese managers were not reluctant to embrace the changing tastes of local customers. Instead, he said, they had prioritized factors such as cost and climate, as well as emissions and safety considerations.
Indian and Japanese executives engage in "extensive" talks before introducing products and new features, Bharti said. Maruti's market share had declined recently because of a collapse in demand for small cars, the automaker's slow rollout of SUVs and its 2020 decision to stop selling diesel cars, he added.
While it is committed to building affordable and compact models, Suzuki has now directed local managers to "pay more attention to the Indian customer," Bharti said.
Tata and Mahindra did not return requests for comment.
To be sure, Maruti Suzuki still runs a lucrative business in India. Revenue has more than doubled over the last five years to $19 billion and profit tripled to $1.5 billion as margins improved. About 60% of the 3.3 million cars Suzuki sold in the last financial year were in India, and Maruti contributed nearly half of its profits.
But while it is making more money, the company has fallen short of chief executive Toshihiro Suzuki's goal of owning half the market.
Maruti Suzuki also risks being seen by younger drivers as a "brand for their parents or grandparents," said Toshihide Kinoshita, an automotive analyst at Nomura Securities.
In India, the typical buyer of a new car is in their mid-30s. The average age in the United States is 51, according to data from Cox Automotive.
THE PEOPLE'S CAR
Japanese car manufacturers increasingly see India, the world's fastest-growing major economy, as a lifeline.
Many face an existential threat in traditional strongholds like Southeast Asia from the low costs and fast-paced innovation of Chinese rivals. They are also being squeezed by tariffs in the United States and slow growth at home as Japan's population shrinks.
Chinese EV makers, however, are largely shut out of India, which has increased scrutiny of investments from China after a deadly border clash between the two countries in 2020. Japanese carmakers sense the opportunity: Toyota and Suzuki have announced plans to spend a cumulative $11 billion to expand manufacturing and other operations in India by 2030.
Maruti Suzuki is now a symbol of Prime Minister Narendra Modi's push to turn India into a global manufacturing hub.
Suzuki first invested in Maruti in the early 1980s when the Indian brand was state-owned. Then-Prime Minister Indira Gandhi wanted to provide a "people's car" to fulfill the dream of her late son Sanjay, an autos enthusiast who had sought to bring affordable mobility to the middle class.
The Maruti 800 arrived in 1983. It was priced at around $9,000 in inflation-adjusted dollars and became synonymous with India's modernization. Over three decades, Maruti sold nearly 3 million of the small hatchbacks. Such was the scale of Suzuki's dominance in India that its former CEO Osamu Suzuki said he aimed to keep a 50% market share "for eternity."
India's economy has grown some 18-fold since Suzuki entered the market. Yet Suzuki's cost-control culture meant managers initially faced resistance when they lobbied to offer advanced driver assistance systems that Mahindra introduced around 2021, some four years before Maruti, three people said.
For many buyers, the modernity and aspiration that Maruti once represented is found in Tata and Mahindra's feature-laden SUVs, rather than Maruti's workaday models. Maruti does not have "the bells and whistles" that customers now want, said JATO Dynamics president Ravi Bhatia.
One erstwhile loyalist looking elsewhere is Anil Tiwari, who is seeking a car to supplement his family's 17-year-old Maruti Alto hatchback. The insurance agent has narrowed his choices down to a Mahindra or Toyota SUV after his wife and children demanded a sunroof and a large infotainment display, among other technologies.
"My wife and children want the best," he said.
FIGHTBACK?
Maruti has been here before. Its market share dipped below 40% in 2011, though newer models and an expanded sales network helped it recover.
This time, competition is fiercer. Better equipped rivals and the fall in market share mean Suzuki now faces its toughest situation in India "in the last 40 years," chief executive Suzuki told reporters at the Tokyo auto show last year.
In an attempt to regain dominance, Suzuki is expanding R&D teams at Maruti and giving executives flexibility to make more decisions locally, five people told Reuters. It aims to cut the average product development time to 36 months from 48 months, four sources added.
Maruti has also built more car-testing labs in India to speed up design and execution, Bharti told Reuters.
Maruti has introduced pricier and more design-forward cars, including a three-row minivan that starts at about $25,000. It plans seven more SUVs by 2030, which will join a recently released model that has a sunroof and advanced driver assistance systems.
The brand is also reversing its decision not to use large display screens in some vehicles, according to three sources, who said Japanese executives had felt they would be a distraction for drivers.
Bharti confirmed that Maruti and Suzuki executives had discussed those concerns. Large displays and similar features are always "on the cards," he said, though the company continues to weigh customer demand against the realities of Indian driving conditions.
One open question is whether Maruti's more expensive cars will sell. The brand's association with affordability means Indians willing to spend more usually don't consider Maruti, six people told Reuters. Less than 3% of Maruti's sales come from cars priced above $15,500, compared with over 21% for the rest of the industry, according to JATO Dynamics.
That perception is shaping the choice for buyers like Deepanshu Singhal, a sales executive who plans to upgrade to a Mahindra or Toyota SUV from the Maruti Dzire sedan he has driven for seven years.
"I'd rather spend a little more money for a better car that has some freshness and newness," he said.
(Reporting by Aditi Shah; Additional reporting by Daniel Leussink in Tokyo, Saurabh Sharma in New Delhi, Sumit Khanna in Ahmedabad and Jatindra Dash in Bhubaneswar; Editing by David Dolan and Katerina Ang)
(([email protected], X:@aditishahsays))
Adds details and background
July 21 (Reuters) - India's top carmaker Maruti Suzuki MRTI.NS said on Tuesday it would increase vehicle prices by up to 30,000 rupees ($311.74) from August, its second portfolio-wide hike in about two months, citing sustained cost pressures.
Here are more details:
The automaker had earlier announced a similar price hike of 30,000 rupees from June, while offering price protection to some entry-level cars
The renewed Middle East conflict has disrupted global trade routes and energy markets, driving up prices of key inputs and pressing companies to pass on higher costs to customers
With inflationary pressures now at elevated levels and the adverse cost environment persisting, the company has to pass on a portion of the increased costs to the market, Maruti said in a statement
Company joins peer Tata Motors Passenger Vehicles TAMO.NS, which has also raised prices twice while Mahindra & Mahindra MAHM.NS and Hyundai Motor India HYUN.NS have raised once each
Shares closed 0.6% higher at 13,597 rupees reversing course from earlier in the day
($1 = 96.2325 Indian rupees)
(Reporting by Urvi Dugar in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected]; +91 9558725583;))
Adds details and background
July 21 (Reuters) - India's top carmaker Maruti Suzuki MRTI.NS said on Tuesday it would increase vehicle prices by up to 30,000 rupees ($311.74) from August, its second portfolio-wide hike in about two months, citing sustained cost pressures.
Here are more details:
The automaker had earlier announced a similar price hike of 30,000 rupees from June, while offering price protection to some entry-level cars
The renewed Middle East conflict has disrupted global trade routes and energy markets, driving up prices of key inputs and pressing companies to pass on higher costs to customers
With inflationary pressures now at elevated levels and the adverse cost environment persisting, the company has to pass on a portion of the increased costs to the market, Maruti said in a statement
Company joins peer Tata Motors Passenger Vehicles TAMO.NS, which has also raised prices twice while Mahindra & Mahindra MAHM.NS and Hyundai Motor India HYUN.NS have raised once each
Shares closed 0.6% higher at 13,597 rupees reversing course from earlier in the day
($1 = 96.2325 Indian rupees)
(Reporting by Urvi Dugar in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected]; +91 9558725583;))
Maruti Suzuki found it hard to adapt cost-focused culture to tastes of increasingly wealthy Indians
Japanese-owned carmaker slow to roll out popular features like sunroofs and advanced technology, as well as SUVs
Company's market share hovers around 39%, near an all-time low; CEO targets 50%
Firm is spending more on R&D and increasing autonomy of local managers - sources
By Aditi Shah
NEW DELHI, July 20 (Reuters) - For some 40 years, Suzuki cars dominated India's roads.
The Japanese company's relentless focus on keeping prices and running costs low put millions of people behind the wheel. Hatchbacks made by its Indian arm Maruti Suzuki commanded between half and four-fifths of the country's new car sales in recent decades.
But as Indians got richer, they gravitated to bigger and flashier rides – and the automaker's emphasis on affordability started to become a drag. Maruti Suzuki's share of the world's third-largest autos market now lingers at around 39%, near an all-time low.
Suzuki's struggles reflect how cost-sensitive managers in Japan were slow to adapt to the changing tastes of newly affluent Indians, four people familiar with its business told Reuters. Executives, the people said, for years felt that demand for sunroofs, advanced technology and SUVs hadn't trumped questions of affordability for Indians.
Reuters is reporting for the first time details about the deliberations between Indian and Japanese executives at Suzuki as they struggled to pivot beyond a long-successful strategy that emphasized value before almost everything else.
Maruti Suzuki managers first floated the idea of adding sunroofs about a decade ago, the people said. But Japanese bosses considered the feature – which has become a symbol of upward mobility in India – impractical given India's extreme heat and dusty roads. They worried that adding a more powerful air conditioning unit and strengthening the cabin to accommodate the panel would increase costs and distract from Suzuki's mission of providing affordable transport.
The carmaker didn't introduce sunroofs until 2022. By then, fast-growing domestic rivals Tata Motors and Mahindra & Mahindra — which both currently have a market share of around 14% — had sunroofs as standard features on between a quarter and a third of their cars sold in India, according to data from auto research firm JATO Dynamics.
This account of the missteps that eroded Suzuki's iron grip on India and its subsequent efforts to woo customers back is based on interviews with more than 20 people, including executives, suppliers and others with direct knowledge of the automaker and its Indian business. Most spoke on condition of anonymity because they were not allowed to talk to the media.
Maruti's head of corporate affairs, Rahul Bharti, said in an interview that Japanese managers were not reluctant to embrace the changing tastes of local customers. Instead, he said, they had prioritized factors such as cost and climate, as well as emissions and safety considerations.
Indian and Japanese executives engage in "extensive" talks before introducing products and new features, Bharti said. Maruti's market share had declined recently because of a collapse in demand for small cars, the automaker's slow rollout of SUVs and its 2020 decision to stop selling diesel cars, he added.
While it is committed to building affordable and compact models, Suzuki has now directed local managers to "pay more attention to the Indian customer," Bharti said.
Tata and Mahindra did not return requests for comment.
To be sure, Maruti Suzuki still runs a lucrative business in India. Revenue has more than doubled over the last five years to $19 billion and profit tripled to $1.5 billion as margins improved. About 60% of the 3.3 million cars Suzuki sold in the last financial year were in India, and Maruti contributed nearly half of its profits.
But while it is making more money from selling fewer cars, the company has fallen short of chief executive Toshihiro Suzuki's goal of owning half the market.
Maruti Suzuki also risks being seen by younger drivers as a "brand for their parents or grandparents," said Toshihide Kinoshita, an automotive analyst at Nomura Securities.
In India, the typical buyer of a new car is in their mid-30s. The average age in the United States is 51, according to data from Cox Automotive.
THE PEOPLE'S CAR
Japanese car manufacturers increasingly see India, the world's fastest-growing major economy, as a lifeline.
Many face an existential threat in traditional strongholds like Southeast Asia from the low costs and fast-paced innovation of Chinese rivals. They are also being squeezed by tariffs in the United States and slow growth at home as Japan's population shrinks.
Chinese EV makers, however, are largely shut out of India, which has increased scrutiny of investments from China after a deadly border clash between the two countries in 2020. Japanese carmakers sense the opportunity: Toyota and Suzuki have announced plans to spend a cumulative $11 billion to expand manufacturing and other operations in India by 2030.
Maruti Suzuki is now a symbol of Prime Minister Narendra Modi's push to turn India into a global manufacturing hub.
Suzuki first invested in Maruti in the early 1980s when the Indian brand was state-owned. Then-Prime Minister Indira Gandhi wanted to provide a "people's car" to fulfill the dream of her late son Sanjay, an autos enthusiast who had sought to bring affordable mobility to the middle class.
The Maruti 800 arrived in 1983. It was priced at around $9,000 in inflation-adjusted dollars and became synonymous with India's modernization. Over three decades, Maruti sold nearly 3 million of the small hatchbacks. Such was the scale of Suzuki's dominance in India that its former CEO Osamu Suzuki said he aimed to keep a 50% market share "for eternity."
India's economy has grown some 18-fold since Suzuki entered the market. Yet Suzuki's cost-control culture meant managers initially faced resistance when they lobbied to offer advanced driver assistance systems that Mahindra introduced around 2021, some four years before Maruti, three people said.
For many buyers, the modernity and aspiration that Maruti once represented is found in Tata and Mahindra's feature-laden SUVs, rather than Maruti's workaday models. Maruti does not have "the bells and whistles" that customers now want, said JATO Dynamics president Ravi Bhatia.
One erstwhile loyalist looking elsewhere is Anil Tiwari, who is seeking a car to supplement his family's 17-year-old Maruti Alto hatchback. The insurance agent has narrowed his choices down to a Mahindra or Toyota SUV after his wife and children demanded a sunroof and a large infotainment display, among other technologies.
"My wife and children want the best," he said.
FIGHTBACK?
Maruti has been here before. Its market share dipped below 40% in 2011, though newer models and an expanded sales network helped it recover.
This time, competition is fiercer. Better equipped rivals and the fall in market share mean Suzuki now faces its toughest situation in India "in the last 40 years," chief executive Suzuki told reporters at the Tokyo auto show last year.
In an attempt to regain dominance, Suzuki is expanding R&D teams at Maruti and giving executives flexibility to make more decisions locally, five people told Reuters. It aims to cut the average product development time to 36 months from 48 months, four sources added.
Maruti has also built more car-testing labs in India to speed up design and execution, Bharti told Reuters.
Maruti has introduced pricier and more design-forward cars, including a three-row minivan that starts at about $25,000. It plans seven more SUVs by 2030, which will join a recently released model that has a sunroof and advanced driver assistance systems.
The brand is also reversing its decision not to use large display screens in some vehicles, according to three sources, who said Japanese executives had felt they would be a distraction for drivers.
Bharti confirmed that Maruti and Suzuki executives had discussed those concerns. Large displays and similar features are always "on the cards," he said, though the company continues to weigh customer demand against the realities of Indian driving conditions.
One open question is whether Maruti's more expensive cars will sell. The brand's association with affordability means Indians willing to spend more usually don't consider Maruti, six people told Reuters. Less than 3% of Maruti's sales come from cars priced above $15,500, compared with over 21% for the rest of the industry, according to JATO Dynamics.
That perception is shaping the choice for buyers like Deepanshu Singhal, a sales executive who plans to upgrade to a Mahindra or Toyota SUV from the Maruti Dzire sedan he has driven for seven years.
"I'd rather spend a little more money for a better car that has some freshness and newness," he said.
(Reporting by Aditi Shah; Additional reporting by Daniel Leussink in Tokyo, Saurabh Sharma in New Delhi, Sumit Khanna in Ahmedabad and Jatindra Dash in Bhubaneswar; Editing by David Dolan and Katerina Ang)
(([email protected], X:@aditishahsays))
Maruti Suzuki found it hard to adapt cost-focused culture to tastes of increasingly wealthy Indians
Japanese-owned carmaker slow to roll out popular features like sunroofs and advanced technology, as well as SUVs
Company's market share hovers around 39%, near an all-time low; CEO targets 50%
Firm is spending more on R&D and increasing autonomy of local managers - sources
By Aditi Shah
NEW DELHI, July 20 (Reuters) - For some 40 years, Suzuki cars dominated India's roads.
The Japanese company's relentless focus on keeping prices and running costs low put millions of people behind the wheel. Hatchbacks made by its Indian arm Maruti Suzuki commanded between half and four-fifths of the country's new car sales in recent decades.
But as Indians got richer, they gravitated to bigger and flashier rides – and the automaker's emphasis on affordability started to become a drag. Maruti Suzuki's share of the world's third-largest autos market now lingers at around 39%, near an all-time low.
Suzuki's struggles reflect how cost-sensitive managers in Japan were slow to adapt to the changing tastes of newly affluent Indians, four people familiar with its business told Reuters. Executives, the people said, for years felt that demand for sunroofs, advanced technology and SUVs hadn't trumped questions of affordability for Indians.
Reuters is reporting for the first time details about the deliberations between Indian and Japanese executives at Suzuki as they struggled to pivot beyond a long-successful strategy that emphasized value before almost everything else.
Maruti Suzuki managers first floated the idea of adding sunroofs about a decade ago, the people said. But Japanese bosses considered the feature – which has become a symbol of upward mobility in India – impractical given India's extreme heat and dusty roads. They worried that adding a more powerful air conditioning unit and strengthening the cabin to accommodate the panel would increase costs and distract from Suzuki's mission of providing affordable transport.
The carmaker didn't introduce sunroofs until 2022. By then, fast-growing domestic rivals Tata Motors and Mahindra & Mahindra — which both currently have a market share of around 14% — had sunroofs as standard features on between a quarter and a third of their cars sold in India, according to data from auto research firm JATO Dynamics.
This account of the missteps that eroded Suzuki's iron grip on India and its subsequent efforts to woo customers back is based on interviews with more than 20 people, including executives, suppliers and others with direct knowledge of the automaker and its Indian business. Most spoke on condition of anonymity because they were not allowed to talk to the media.
Maruti's head of corporate affairs, Rahul Bharti, said in an interview that Japanese managers were not reluctant to embrace the changing tastes of local customers. Instead, he said, they had prioritized factors such as cost and climate, as well as emissions and safety considerations.
Indian and Japanese executives engage in "extensive" talks before introducing products and new features, Bharti said. Maruti's market share had declined recently because of a collapse in demand for small cars, the automaker's slow rollout of SUVs and its 2020 decision to stop selling diesel cars, he added.
While it is committed to building affordable and compact models, Suzuki has now directed local managers to "pay more attention to the Indian customer," Bharti said.
Tata and Mahindra did not return requests for comment.
To be sure, Maruti Suzuki still runs a lucrative business in India. Revenue has more than doubled over the last five years to $19 billion and profit tripled to $1.5 billion as margins improved. About 60% of the 3.3 million cars Suzuki sold in the last financial year were in India, and Maruti contributed nearly half of its profits.
But while it is making more money from selling fewer cars, the company has fallen short of chief executive Toshihiro Suzuki's goal of owning half the market.
Maruti Suzuki also risks being seen by younger drivers as a "brand for their parents or grandparents," said Toshihide Kinoshita, an automotive analyst at Nomura Securities.
In India, the typical buyer of a new car is in their mid-30s. The average age in the United States is 51, according to data from Cox Automotive.
THE PEOPLE'S CAR
Japanese car manufacturers increasingly see India, the world's fastest-growing major economy, as a lifeline.
Many face an existential threat in traditional strongholds like Southeast Asia from the low costs and fast-paced innovation of Chinese rivals. They are also being squeezed by tariffs in the United States and slow growth at home as Japan's population shrinks.
Chinese EV makers, however, are largely shut out of India, which has increased scrutiny of investments from China after a deadly border clash between the two countries in 2020. Japanese carmakers sense the opportunity: Toyota and Suzuki have announced plans to spend a cumulative $11 billion to expand manufacturing and other operations in India by 2030.
Maruti Suzuki is now a symbol of Prime Minister Narendra Modi's push to turn India into a global manufacturing hub.
Suzuki first invested in Maruti in the early 1980s when the Indian brand was state-owned. Then-Prime Minister Indira Gandhi wanted to provide a "people's car" to fulfill the dream of her late son Sanjay, an autos enthusiast who had sought to bring affordable mobility to the middle class.
The Maruti 800 arrived in 1983. It was priced at around $9,000 in inflation-adjusted dollars and became synonymous with India's modernization. Over three decades, Maruti sold nearly 3 million of the small hatchbacks. Such was the scale of Suzuki's dominance in India that its former CEO Osamu Suzuki said he aimed to keep a 50% market share "for eternity."
India's economy has grown some 18-fold since Suzuki entered the market. Yet Suzuki's cost-control culture meant managers initially faced resistance when they lobbied to offer advanced driver assistance systems that Mahindra introduced around 2021, some four years before Maruti, three people said.
For many buyers, the modernity and aspiration that Maruti once represented is found in Tata and Mahindra's feature-laden SUVs, rather than Maruti's workaday models. Maruti does not have "the bells and whistles" that customers now want, said JATO Dynamics president Ravi Bhatia.
One erstwhile loyalist looking elsewhere is Anil Tiwari, who is seeking a car to supplement his family's 17-year-old Maruti Alto hatchback. The insurance agent has narrowed his choices down to a Mahindra or Toyota SUV after his wife and children demanded a sunroof and a large infotainment display, among other technologies.
"My wife and children want the best," he said.
FIGHTBACK?
Maruti has been here before. Its market share dipped below 40% in 2011, though newer models and an expanded sales network helped it recover.
This time, competition is fiercer. Better equipped rivals and the fall in market share mean Suzuki now faces its toughest situation in India "in the last 40 years," chief executive Suzuki told reporters at the Tokyo auto show last year.
In an attempt to regain dominance, Suzuki is expanding R&D teams at Maruti and giving executives flexibility to make more decisions locally, five people told Reuters. It aims to cut the average product development time to 36 months from 48 months, four sources added.
Maruti has also built more car-testing labs in India to speed up design and execution, Bharti told Reuters.
Maruti has introduced pricier and more design-forward cars, including a three-row minivan that starts at about $25,000. It plans seven more SUVs by 2030, which will join a recently released model that has a sunroof and advanced driver assistance systems.
The brand is also reversing its decision not to use large display screens in some vehicles, according to three sources, who said Japanese executives had felt they would be a distraction for drivers.
Bharti confirmed that Maruti and Suzuki executives had discussed those concerns. Large displays and similar features are always "on the cards," he said, though the company continues to weigh customer demand against the realities of Indian driving conditions.
One open question is whether Maruti's more expensive cars will sell. The brand's association with affordability means Indians willing to spend more usually don't consider Maruti, six people told Reuters. Less than 3% of Maruti's sales come from cars priced above $15,500, compared with over 21% for the rest of the industry, according to JATO Dynamics.
That perception is shaping the choice for buyers like Deepanshu Singhal, a sales executive who plans to upgrade to a Mahindra or Toyota SUV from the Maruti Dzire sedan he has driven for seven years.
"I'd rather spend a little more money for a better car that has some freshness and newness," he said.
(Reporting by Aditi Shah; Additional reporting by Daniel Leussink in Tokyo, Saurabh Sharma in New Delhi, Sumit Khanna in Ahmedabad and Jatindra Dash in Bhubaneswar; Editing by David Dolan and Katerina Ang)
(([email protected], X:@aditishahsays))
BENGALURU, July 17 (Reuters) - Indian engineering research and development firm Tata Technologies TATE.NS reported a 6.1% rise in first-quarter profit on Friday, on a boost from its services segment.
Tata Technologies, which provides engineering, product design and manufacturing digitalisation services to automotive, aerospace and industrial machinery clients, counts JLR and Tata Motors TATM.NS among its largest clients
The Tata group company's profit rose to 1.81 billion rupees ($18.8 million) for the quarter ended June 30, from 1.70 billion rupees a year earlier
Revenue jumped 34% to 16.65 billion rupees
The company retained its double-digit organic revenue growth for fiscal year 2027 on the back of investments in AI, operational efficiency, and continued portfolio diversification, CEO Warren Harris said in a statement
Engineering research and development firms, which largely depend on orders from the U.S. and Europe, have been under pressure due to slowing adoption of EVs and clients cutting back on spending amid geopolitical tensions
($1 = 96.37 Indian rupees)
(Reporting by Sai Ishwarbharath B in Bengaluru; Editing by Mrigank Dhaniwala)
BENGALURU, July 17 (Reuters) - Indian engineering research and development firm Tata Technologies TATE.NS reported a 6.1% rise in first-quarter profit on Friday, on a boost from its services segment.
Tata Technologies, which provides engineering, product design and manufacturing digitalisation services to automotive, aerospace and industrial machinery clients, counts JLR and Tata Motors TATM.NS among its largest clients
The Tata group company's profit rose to 1.81 billion rupees ($18.8 million) for the quarter ended June 30, from 1.70 billion rupees a year earlier
Revenue jumped 34% to 16.65 billion rupees
The company retained its double-digit organic revenue growth for fiscal year 2027 on the back of investments in AI, operational efficiency, and continued portfolio diversification, CEO Warren Harris said in a statement
Engineering research and development firms, which largely depend on orders from the U.S. and Europe, have been under pressure due to slowing adoption of EVs and clients cutting back on spending amid geopolitical tensions
($1 = 96.37 Indian rupees)
(Reporting by Sai Ishwarbharath B in Bengaluru; Editing by Mrigank Dhaniwala)
July 15 (Reuters) -
INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JUNE TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,88,144 UNITS
SIAM - INDIA'S JUNE 2-WHEELER SALES 18,51,400 UNITS
SIAM - INDIA'S JUNE 3-WHEELER SALES 77,951 UNITS
SIAM - OVERALL CONSUMER SENTIMENT AND DEMAND REMAIN STEADY AT PRESENT
SIAM: INDUSTRY CONTINUES TO CLOSELY MONITOR GEOPOLITICAL DEVELOPMENTS AND PROGRESS OF MONSOON
Further company coverage: ASOK.NS
(([email protected];;))
July 15 (Reuters) -
INDIA AUTO INDUSTRY BODY SIAM - INDIA'S JUNE TOTAL DOMESTIC PASSENGER VEHICLE SALES 3,88,144 UNITS
SIAM - INDIA'S JUNE 2-WHEELER SALES 18,51,400 UNITS
SIAM - INDIA'S JUNE 3-WHEELER SALES 77,951 UNITS
SIAM - OVERALL CONSUMER SENTIMENT AND DEMAND REMAIN STEADY AT PRESENT
SIAM: INDUSTRY CONTINUES TO CLOSELY MONITOR GEOPOLITICAL DEVELOPMENTS AND PROGRESS OF MONSOON
Further company coverage: ASOK.NS
(([email protected];;))
Rewrites throughout with comments from president of auto dealers' body
By Kashish Tandon
July 6 (Reuters) - India's appetite for electric, hybrid and compressed natural gas vehicles accelerated after the Iran war triggered fuel price hikes, the president of the country's auto dealers' body said, with such models reaching a record share of passenger vehicle sales in June.
Alternative-fuel vehicles accounted for 40.35% of PV retail sales in June, up from about 38% a month earlier, as consumers increasingly sought cheaper running costs after petrol and diesel prices were raised several times in May.
"We need to watch whether this is an emotional knee-jerk reaction from customers or whether this growth is here to stay," C.S. Vigneshwar, president of the Federation of Automobile Dealers Associations (FADA), told Reuters on Monday.
Overall vehicle sales rose 21.8% to a record 2.6 million units, with PV sales rising 28.6% year-on-year to 410,853 units.
Among PVs, CNG models accounted for 24.3% of total sales, while hybrids made up 8.3% and electric vehicles 7.8%.
Industry leader Maruti Suzuki MRTI.NS said last month that bookings for its CNG cars jumped 40% since the fuel price hikes.
The share of electric vehicles among overall two-wheeler sales rose to 10.6%, hitting the double-digit mark for the first time, according to FADA.
While the worst of the crude shock and supply chain disruptions from the Iran war seemed to be over, a return to complete normalcy could still take "a few quarters" and may involve some cost implications, said Vigneshwar.
(Reporting by Kashish Tandon in Bengaluru; Editing by Rashmi Aich, Mrigank Dhaniwala and Janane Venkatraman)
(([email protected]; 8800437922;))
Rewrites throughout with comments from president of auto dealers' body
By Kashish Tandon
July 6 (Reuters) - India's appetite for electric, hybrid and compressed natural gas vehicles accelerated after the Iran war triggered fuel price hikes, the president of the country's auto dealers' body said, with such models reaching a record share of passenger vehicle sales in June.
Alternative-fuel vehicles accounted for 40.35% of PV retail sales in June, up from about 38% a month earlier, as consumers increasingly sought cheaper running costs after petrol and diesel prices were raised several times in May.
"We need to watch whether this is an emotional knee-jerk reaction from customers or whether this growth is here to stay," C.S. Vigneshwar, president of the Federation of Automobile Dealers Associations (FADA), told Reuters on Monday.
Overall vehicle sales rose 21.8% to a record 2.6 million units, with PV sales rising 28.6% year-on-year to 410,853 units.
Among PVs, CNG models accounted for 24.3% of total sales, while hybrids made up 8.3% and electric vehicles 7.8%.
Industry leader Maruti Suzuki MRTI.NS said last month that bookings for its CNG cars jumped 40% since the fuel price hikes.
The share of electric vehicles among overall two-wheeler sales rose to 10.6%, hitting the double-digit mark for the first time, according to FADA.
While the worst of the crude shock and supply chain disruptions from the Iran war seemed to be over, a return to complete normalcy could still take "a few quarters" and may involve some cost implications, said Vigneshwar.
(Reporting by Kashish Tandon in Bengaluru; Editing by Rashmi Aich, Mrigank Dhaniwala and Janane Venkatraman)
(([email protected]; 8800437922;))
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What does Tata MotorsPassenger do?
Tata Motors passenger Vehicles Ltd is a leading global automobile manufacturer of cars and utility vehicles, offering an extensive range of integrated, smart, and e-mobility solutions. With ‘Connecting Aspirations’ at the core of its brand promise, Tata Motors is India’s market leader in commercial vehicles and ranks among the top three in the passenger vehicles market. Tata Motors strives to bring new products that captivate the imagination of GenNext customers, fuelled by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea. By focusing on engineering and tech- enabled automotive solutions catering to the future of mobility, the company’s innovation efforts are focused on developing pioneering technologies that are both sustainable and suited to the evolving market and customer aspirations.;
Who are the competitors of Tata MotorsPassenger?
Tata MotorsPassenger major competitors are Hindustan Motors, Mahindra & Mahindra, Maruti Suzuki India. Market Cap of Tata MotorsPassenger is ₹1,12,328 Crs. While the median market cap of its peers are ₹3,82,876 Crs.
Is Tata MotorsPassenger financially stable compared to its competitors?
Tata MotorsPassenger seems to be less financially stable compared to its competitors. Altman Z score of Tata MotorsPassenger is 1.46 and is ranked 4 out of its 4 competitors.
Does Tata MotorsPassenger pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Tata MotorsPassenger latest dividend payout ratio is 1.34% and 3yr average dividend payout ratio is 5.53%
How has Tata MotorsPassenger allocated its funds?
Companies resources are allocated to majorly unproductive assets like Capital Work in Progress, Inventory, Accounts Receivable, Short Term Loans & Advances
How strong is Tata MotorsPassenger balance sheet?
Tata MotorsPassenger balance sheet is weak and might have solvency issues
Is the profitablity of Tata MotorsPassenger improving?
The profit is oscillating. The profit of Tata MotorsPassenger is ₹79,145 Crs for TTM, ₹82,390 Crs for Mar 2026 and ₹27,830 Crs for Mar 2025.
Is the debt of Tata MotorsPassenger increasing or decreasing?
Yes, The net debt of Tata MotorsPassenger is increasing. Latest net debt of Tata MotorsPassenger is ₹10,652 Crs as of Mar-26. This is greater than Mar-25 when it was -₹19,071 Crs.
Is Tata MotorsPassenger stock expensive?
Tata MotorsPassenger is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE. Latest PE of Tata MotorsPassenger is 1.4, while 3 year average PE is 10.24. Also latest EV/EBITDA of Tata MotorsPassenger is 8.94 while 3yr average is 7.45.
Has the share price of Tata MotorsPassenger grown faster than its competition?
Tata MotorsPassenger has given lower returns compared to its competitors. Tata MotorsPassenger has grown at ~-5.82% over the last 10yrs while peers have grown at a median rate of 8.33%
Is the promoter bullish about Tata MotorsPassenger?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in Tata MotorsPassenger is 42.51% and last quarter promoter holding is 42.56%
Are mutual funds buying/selling Tata MotorsPassenger?
The mutual fund holding of Tata MotorsPassenger is increasing. The current mutual fund holding in Tata MotorsPassenger is 10.05% while previous quarter holding is 9.95%.