Explore Business Standard
Tata Motors Finance
The India-UK free trade agreement augurs well to keep driving JLR's performance in India as it would benefit future cars and enable customers to access global cars and global prices much faster, Tata Motors Group CFO PB Balaji said on Tuesday. On the other hand, further details and clarifications are needed to fully understand the impact on JLR after the US-UK trade deal that reduced US trade tariffs on auto exports from the UK to 10 per cent from 27.5 per cent within a quota of 1 lakh vehicles, Balaji said in an earnings call. "As far as India-UK FTA is concerned, it is a great development and augurs well for JLR...At the same time, we also wait when the FTA actually comes into force, but we believe this is going to benefit the future cars that are going to come, which means customers will be able to access these global cars and global prices much faster because of this FTA," he said. Therefore, Balaji said, "It augurs very well for continuing to drive JLR performance in India goin
The Competition Commission of India (CCI) on Tuesday cleared the proposed merger of Tata Motors Finance Ltd into Tata Capital Ltd. Tata Capital Ltd (TCL) is a subsidiary of Tata Sons and is operating as a non-banking financial company Investment and Credit Company (NBFC-ICC). TCL is engaged primarily in the business of lending, leasing, factoring, financing and distributing financial products. "CCI approves the proposed merger of Tata Motors Finance Ltd with and into Tata Capital Ltd," the regulator said in a post on X. Tata Motors Finance Ltd (TMFL) operates as an NBFC-ICC and is engaged in the business of granting loans and facilities for financing the purchase of new vehicles manufactured by Tata Motors and its group companies. TMFL also refinances existing vehicle finance loans. It is a step-down wholly-owned subsidiary of Tata Motors Ltd. In June this year, Tata Motors, TCL and TMFL's board approved a merger of TMFL with TCL through an NCLT scheme of arrangement. As ...
Punjab National Bank (PNB) on Thursday said it has signed a memorandum of understanding with Tata Motors Finance Solutions for co-sourcing of commercial vehicles. The co-sourcing arrangement will provide simple and seamless financing solutions to fleet owners and commercial vehicle operators while expanding and scaling MSME businesses across geographies, PNB said in a statement. The memorandum of understanding was signed by PNB Managing Director Atul Kumar Goel and Tata Motors Finance Solutions Ltd MD Samrat Gupta.
Tata Motors on Friday reported an 8 per cent year-on-year increase in group global wholesales, including that of Jaguar Land Rover (JLR), at 3,61,361 units in the fourth quarter of FY23. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in the January-March period this year stood at 1,18,321 units, up 3 per cent over the same period of FY22, Tata Motors said in a statement. Dispatches of all passenger vehicles in the fourth quarter increased 10 per cent to 1,35,654 units over the corresponding quarter of the previous fiscal, it said. Global sales of JLR stood at 1,07,386 vehicles in the March quarter, which comprised 15,499 units of Jaguar and 91,887 units of Land Rover, it said.