Category Tata Motors

Tata Motors, Corporation Bank in tie-up for providing retail finance

Tata Motors and Corporation Bank have tied-up with a view to providing retail financing facilities for Tata cars. Under the agreement, financing facilities would be available at all 1,073 branches of Corporation Bank and 329 of Tata Motors’ sales touch points.

Tata Motors and Corporation Bank plan to co-organise various sales promotion activities aimed at promoting Tata cars and making the car buying process easier for potential customers by simplifying the loan disbursement process.

Customers will be able to get loans of up to 85% of a car’s on-road price, for a period of up to five years, at 11.75% interest per annum.

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Tata Nano bookings open to soon, at Rs 70,000

By the end of this month, prospective buyers will be able to pay Rs 70,000 and book the much-anticipated Nano. Bookings will be accepted at Tata Motors dealerships as well as certain branches of the State Bank of India (SBI), with the latter also providing car loans for the Nano.

Tata Motors is looking at accepting bookings for up to 100,000 units of the Nano, by which it expects to rake in about Rs 700 crore over the next few weeks. Cars will be allotted via a draw, and most people who book a Nano can expect to wait for many months before their car is delivered. That is because while the Nano will be launched in March this year, the car will initially come from Tata Motors Pantnagar facility, which can only produce 3,000 cars per month.

However, things are expected to improve by ...

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Tata Motors struggling to pay suppliers, Tata Sons increase shareholding in the company

Tata Motors, which seems to be going through a rough phase right now, owes more than Rs 1,200 crore in unpaid dues to its suppliers. This debt is said to have been accumulated over the last few months. With declining sales in the domestic market, interminable delays in the Nano project and financial troubles with Jaguar and Land Rover, things certainly don’t seem to be going too well for Tata Motors.

According to the company, Tata Motors is working with its vendors to try and find a way out the unpaid dues situation. On their part, some vendors and suppliers are said to be negotiating for part payment of their dues, which would at least allow them to meet their working capital requirements and to pay off the loans that some of them have taken from various banks.

Tata Motors, whi...

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Production starts at the Tata Marcopolo plant at Dharwad

Tata Marcopolo Motors Ltd.’s bus manufacturing facility at Dharwad, in Karnataka, has started production. A 51:49 joint venture between Tata Motors and the Brazil-based Marcopolo, Tata Marcopolo Motors Ltd. has been set up at an investment of around Rs 200 crore. The Dharwad plant has started with an initial capacity of 15,000 units per annum, and this will be increased to 30,000 units per year in phases.

A wide range of buses will be produced at Tata Marcopolo’s plant, including the ‘Starbus’ and ‘Globus’ ranges. The plant will produce 16-54 seater standard buses, 18- and 45-seater luxury buses and low-floor city buses.

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Tata Motors bags Rs 2,200 crore order from DTC

Tata Motors has received an order from the Delhi Transport Corporation (DTC) to supply 1,625 ultra-low-floor buses. The company has also got a 12-year maintenance contract for these buses. The order is worth Rs 2,200 crore, comprising about Rs 900 crore for the 1,625 buses and Rs 1,300 crore for the 12-year maintenance contract.

This is the second such order that Tata Motors has got from DTC. The first one was given out in 2007, for 650 buses, which Tata Motors supplied on schedule last year.

Tata Motors’ ultra-low-floor buses make entry and exit more convenient, with passengers almost walking into the bus, rather than climbing into it...

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