Tata Motors is in the process of setting up at least seven regional stockyards as it seeks to move to a leaner and efficient distribution system. This will ensure its vehicles reach dealers much faster and delivered to buyers in a maximum of three days.
The move is also aimed at reducing the financial burden on dealers as it takes care of inventory costs, said Mayank Pareek, president, passenger vehicles business, Tata Motors.
Shares of Tata Motors jumped as much as 15 per cent in the morning deals on Tuesday on better-than-expected Q2 results. The auto major had settled over 16 per cent higher during the one-hour Muhurat Trading session on Sunday, that marked the beginning of new Samvat year - 2076. In two trading sessions, the stock has jumped 34 per cent.
Mumbai: Tata Motors shares soared 18% to ₹150 in Sunday’s Diwali ‘Muhurat’ trade. The jump in the stock was in response to the company’s strong September quarter (Q2FY20) performance, as a result of which, US-listed shares of the Indian carmaker had surged 13.2% on Friday.
Two factors inspire confidence that prospects of the global auto company may be improving.
Ahead of the festive season, Tata Motors is offering heavy discounts on wide range of models. Under the 'Festival of cars' programme, the company is giving benefits of up to ₹1.5 lakh on models including Tata Harrier, Nexon, Hexa, Tiago and Tigor.
Localisation of components used in manufacture of electric vehicles (EVs) is required for attractive price propositions along with investments in infrastructure to drive the demand of electric cars, Tata Motors CEO & MD Guenter Butschek said on Thursday. Speaking at the launch of its new solution for electric vehicles called Ziptron, Butschek said steps had been taken by the Indian government to push for electrification of Indian automobile segment.
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