Hero MotoCorp, Tata Motors, Royal Enfield posts sharp falls in August auto sales

Hero MotoCorp, Tata Motors and Royal Enfield have reported sharp declines for their August 2019 auto sales. While Hero MotoCorp, the world’s largest motorcycle manufacturer by volumes, reported a 21% fall in August sales to 5.43 lakhs, Royal Enfield reported a 24% decline and Tata Motors reported a 48% fall. Hero MotoCorp’s numbers indicated an […]

Fitch cuts Tata Motors’ credit rating over Europe, India worries

Fitch Ratings has downgraded the long-term credit rating of Tata Motors by one notch to BB- from BB due to both domestic as well as JLR-related factors. The rating agency further kept a negative outlook on the company’s rating, pointing to various factors such as further uncertainty in Britain over its exit from Europe, increasing […]

CARE cuts Tata Motors’ rating over JLR performance

CARE Ratings has cut the rating on Rs 11,400 cr of bank and debenture financing availed by Tata Motors due to poor financial performance and high product development costs at the company’s UK subsidiary. It cut the rating on Tata Motors’ long-term bank facilities and non-convertible debentures to AA from AA+. CARE said the cut […]

Tata Motors passenger auto sales down 11% in Jan as finance woes bite

As muted consumer sentiments continued in January 2019, Tata Motors Commercial and Passenger Vehicles Business sales in the domestic market witnessed a drop of 8% at 54,915 units as against 59,441 units sold over last year. The cumulative sales for the domestic market (April 2018 -January 2019) grew by 21% with 552,887 units as compared […]

Jaguar Land Rover November retail sales down 8%

Jaguar Land Rover reported an 8% decline in its November retail sales, reflecting what the premium auto-maker called “continuing challenging market conditions in China”. Sales in China were down 50.7% as “market conditions remain difficult with continuing consumer uncertainty following tariff changes and trade concerns.” The company said it was “focused on taking all the […]

JLR Woes: Moody’s changes Tata Motors’ outlook to negative from stable

Moody’s Investors Service has changed the outlook on Tata Motors Limited’s corporate family rating to ‘negative’ from ‘stable’, a day after it cut its rating on company’s UK unit by one notch. A negative outlook indicates that there is likelihood of a cut in the credit rating. The ratings firm, however, did not cut the […]

Tata Motors CV sales continues to drive overall numbers, PV sales up 7%

Tata Motors reported a 20% growth for September to 64,598 vehicles, led once again by the commercial vehicle segment. The 20% overall growth is, however, below the 40% growth seen for the first six months of the current financial year. Following the recent trend, growth was led by the commercial vehicle division, which saw sales […]

Jaguar Land Rover posts decent Feb retail sales, but still down 2.6% YoY

Jaguar Land Rover reported a 2.6% decline in retail sales to 39,911 in February compared to last year. However, the decline was not very surprising, given that last year, the company had seen the highest ever February sales in its history. This year’s number is the second highest February sales ever, it said. Sales at its […]