Automobile company shares tumbled on Tuesday, dragging the broader markets down, and giving up part of the post-budget gains.

India’s largest commercial vehicles maker Tata Motors led the losses, falling as much as 2.3% to the day’s lows of Rs 513.25. The S&P BSE Auto index fell 0.93% to 22,079.74 points, with all but one of its constituents in red.

Home-grown automaker Tata Motors is revamping its product strategy for the passenger car segment to safeguard itself from competition coming from technology giants such as Google and Uber.

The company plans to launch two modular platforms and gradually phase out six existing platforms. While many of the products from the current platforms will be also phased out, some of will be transferred to the new modular platforms to be launched in 2018. This has put a question mark on the future of Nano, the much talked-about small car that failed to generate volume.

Tata Motors has launched its new performance brand TAMO, which can be said to be somewhat similar to the ’N’ wing at Hyundai or the Mugen division at Honda. The company will reveal its first product under TAMO, the Futuro on 7th March 2017, ahead of the 2017 Geneva Motor Show. According to the Tata Motors, the Futuro will be "a stunning-looking car for the money." The company will undertake limited production of the car and the production version is expected to hit the market by 2018. It is expected that the two-seater sports coupe Futuro will be priced around Rs 25 lakh.

The shares of Tata Motors fell on Tuesday after there were reports that said that Jaguar Land Rover (JLR) was set to recall over 6,000 units in China to fix faulty seat belts.

On the news, the shares of Tata Motors, which owns JLR fell 2.7% to Rs 518.00 apiece. At 1458 hours, the shares were trading at Rs 523.75 down Rs 8.75 or 1.64% lower from previous close.

Mumbai: Tata Motors Ltd is reshuffling the roles of its top executives as part of a restructuring exercise it initiated a few months ago to make the firm more efficient, said three people aware of the developments. All of them declined to be identified.

Details of the new roles and responsibilities were shared by Guenter Butschek, managing director and chief executive, with employees in an office circular on 25 January, said the people cited above. In the first phase, the programme is aimed at reducing the number of management layers to improve speed of decision making.

Tata Motors arm TAL Manufacturing Solutions Ltd has been selling its affordable industrial robot- Brabo- since October last year after showcasing it at the Make in India Summit.

Betting big on this new product, for which the company estimates sufficient traction among small and medium businesses, TAL expects the robotics vertical to account for almost 40 per cent of its overall revenues in the coming five years.

MUMBAI: Tata Motors is shrinking structure of its white-collar workforce to five layers from the existing 14, in what is seen as the biggest organisational restructuring in the company’s history.

Some job losses were envisaged as part of changes, but a decision has yet to be taken, people in the know said. The new structure will take effect on April 1and is aimed at cutting down time the nation’s largest automobile company by revenue takes to react to market dynamics.

Tata Motors-owned Jaguar Land Rover (JLR) was on Friday fined £900,000 after a worker lost his leg in an accident, described as "completely avoidable" by a court, at one of the company's United Kingdom (UK) factories nearly two years ago.

A trial at Birmingham Crown Court was told that the delivery driver lost control of his vehicle and crashed into another car at JLR's Solihull plant in the West Midlands region of England in February 2015.

The leadership at Tata Motors believe that the pent-up demand will begin to release now, after demonetization and apprehension over GST made a sizeable number of customers hold back on their purchase.

"I am not saying that the sales will suddenly increase in January or in February, but we expect it to increase from here," said Mayank Pareek, president, passenger vehicles business unit at country's largest automobile company Tata Motors on the sidelines of the launch of its SUV Hexa in Mumbai on Wednesday.

Tata Motors gained 1% to Rs 505, bouncing back 3% from intra-day low on the National Stock Exchange (NSE), after the company said Jaguar Land Rover (JLR) reported 12% rise in total retail sales of 55,375 vehicles in December 2016 over the previous year.

JLR, the UK’s leading manufacturer of premium luxury vehicles has achieved its best ever December sales performance in 2016, primarily driven by the ongoing success of the Jaguar F-PACE, Land Rover Discovery Sport and the Range Rover Sport as well as strong demand for the long wheel base Jaguar XFL in China, Tata Motors said in a release.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.