Moody's assigned a Ba3 rating to the proposed senior unsecured notes to be issued by Tata Motors
India's largest conglomerate has said it's open to finding partners for JLR to save on costs and share the burden of investing in electric vehicles
Tata has begun to address some of the financial issues facing JLR, providing the brand with a $910 million equity infusion to help bolster its balance sheet.
India business in red by Rs 1,270 cr on poor sales
Crisil on Wednesday downgraded the rating of Tata Motors by a notch to 'AA-' on weakening of outlook on the business risk profile of Jaguar Land Rover (JLR). The long term rating of the company has been downgraded from 'AA' to 'AA-' with negative outlook, Tata Motors said in a regulatory filing. The rating action is based on the weakening of outlook on the business risk profile of JLR, it said. Earlier this week, global ratings agency S&P reaffirmed Tata Motors' long-term issuer and issue credit ratings at 'B+' and kept the outlook negative due to high cash burn at its British arm Jaguar Land Rover and geopolitical risks.
Land Rover sales were at 26,559 units, up 5.6 per cent from the same month last year
The company said lowering of GST from the current 28 per cent to 18 per cent would help the industry recover from the slowdown and in turn spur employment generation
JLR had unveiled plans to produce a range of new electrified vehicles in the UK as it prepares to offer electrified options for all Jaguar and Land Rover models from 2020
Land Rover sales were at 32,127 units, down 10.1 per cent from the same month last year
Compensation of Tata Motors MD & CEO Butschek rises 14% in the same period
Tata Motors said tighter control of expenses and a turnaround at JLR helped dull the impact of an economic slowdown at home
Jaguar Land Rover India (JLR) Tuesday said it has commenced bookings for locally manufactured Range Rover Velar which is priced at Rs 72.47 lakh (ex-showroom). The model comes with both petrol and diesel powertrains, priced similarly at Rs 72.47 lakh. We continue to focus on providing the best of British design, luxury and technology at highly competitive prices and we are sure that local manufacturing of the Range Rover Velar will make it even more desirable," JLR India President & Managing Director Rohit Suri said in a statement. The local manufacturing of the model also reaffirms the company's commitment to the Indian market, he added. Deliveries of the model will begin early next month. JLR currently produces XE, XF, XJ,F-Pace, Discovery Sport and Range Rover Evoque locally.
All affected vehicles will receive corrective repairs and software updates that have been agreed with the relevant authorities, the filing said
Tata Motors' arm says conditions not right to tap bond market; may turn to other bank financing
The company will also wait for wider availability of BS- VI fuel in India before rushing them to launch vehicles complying with the stricter emission norm
JLR India President said tax on SUVs have gone up from 43% to 50%, this is one of the highest in the world
The SUV comes loaded with several features and a powerful V8 engine
Indian operations have been muted due to BS-III ban and lower demand for commercial vehicles
JLR, maker of Jaguar luxury cars and Land Rover SUVs, reported a 62% decline in net profit in Q3FY17
JLR has since introduced a buffer zone to reduce the risk of a similar accident