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tata motors ltd-spon adr (TTM) Key Developments

Tata Motors Announces Executive Changes

Tata Motors announced the appointment of Mr. Mayank Pareek as President, Passenger Vehicle Business Unit (PVBU). He will join the company on October 1, 2014 and will take over from Mr. Ranjit Yadav, who will now head the International Business for Passenger & Commercial vehicles. As the President, PVBU, Mr. Pareek would be responsible for steering the passenger vehicle business. He will also be a member of the Corporate Steering Committee. His extensive experience in the passenger car market will play a significant role in harnessing Tata Motors growth potential to help position the company as one of the leading passenger car manufacturers in India. Mr. Pareek comes with over two decades of experience with Maruti Suzuki India Limited (MSIL). His last role was as the Chief Operating Officer, wherein he was heading the Marketing & Sales vertical that included Domestic Marketing and Sales, Dealer Development, Product Development, Used Car Business, Outbound Logistics, Spare Parts and Accessories, After Market Services and International Marketing & Sales. He was also member of MSIL Management Committee, and a permanent invitee to the MSIL Board.

Tata Motors Limited Launches Zest in Coimbatore

Tata Motors Limited has launched its all new, sub-four metre compact sedan, ZEST in Coimbatore, India. The model is priced from INR 462,000 for the petrol Revotron 1.2T model and INR 566,000 for the diesel version. The automaker started sales of the vehicle nationally on August 12, and cars will be on sale across India in over 470 Tata Motors Passenger Vehicle sales outlets.

Tata Motors Group Announces Global Wholesales Results for the Month and Year to Date Ended August 2014

Tata Motors Group announced that global wholesales results for the month and year to date ended August 2014. For the month, the global wholesales, including Jaguar Land Rover, were 73,524 nos. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range were 30,536 nos. Global wholesales of all passenger vehicles were 42,988 nos. Global wholesales of Tata Motors' passenger vehicles were 11,338 nos. Global wholesales for Jaguar Land Rover for the month were 31,650 vehicles. Jaguar wholesales for the month were 4,658 vehicles, while Land Rover wholesales for the month were 26,992 vehicles. For the year to date, the global wholesales were 381,935 nos. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range were 149,321 nos. Global wholesales of all passenger vehicles were 232,614 nos. Global wholesales of Tata Motors' passenger vehicles were 46,341 nos. Jaguar wholesales were 31,650 vehicles, while Land Rover wholesales for cumulative were 154,623 vehicles. Cumulative wholesales for Jaguar Land Rover for the fiscal were 186,273 vehicles.

Tata Motors Enters into Bonus and Permanency Agreement with Telco Workers Union

Tata Motors has entered into Bonus and Permanency Agreement with Telco Workers Union. As per this agreement, all permanent workmen would be getting an amount equivalent to 10.5% of the annual salary/wages, consisting of Basic + Personal Pay + Dearness Allowance earned by them during 2013-14. For all permanent confirmed workmen who were on the roll of the company in 2013-14 and continue to be on roll on the date of the signing of the agreement, the minimum amount payable under the agreement is INR 14,490, maximum payable is INR 31,390 and average amount payable is INR 25,650.

Tata Motors Delays Launch of Bolt Hatchback

Tata Motors has reportedly delayed the introduction of its Bolt hatchback until next year 2015. Without citing a source, the report claims that the launch of the hatchback has been pushed back to January 2015 following strong demand for the Zest sedan, which has received over 10,000 bookings within two weeks of its launch.

 

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