Its three factories in Britain, which usually produce about 1,000 cars per day, will now not restart until September 24, the company said on Tuesday. Sept 21 (Reuters) – Stellantis STLAM.MI detected unauthorized access to a third-party service provider’s platform that supports its North American customer service operations, the company said in a statement on Sunday. LONDON, Sept 25 (Reuters) – Carmaker Jaguar Land Rover said on Thursday some of its digital systems were back online following a recent cyber attack that has crippled its operations in Britain. Last month, India’s federal government slashed the goods and services tax (GST) on SUVs with engine capacities above 1500 cc to 40% from an effective rate of 50%, as part of an effort to boost consumption and support growth amid headwinds from trade tensions with U.S. Oct 1 (Reuters) – Indian automaker Mahindra & Mahindra MAHM.NS said on Wednesday that its sales of sports utility vehicles to dealers in September rose 10% year-on-year, after a fall in August, helped by consumption tax cuts and festive demand. JLR said on September 29 that it would resume some manufacturing “in the coming days”.
She lost the 2024 elections from Attabira Assembly constituency.Congress candidate Ghasiram Majhi has already started campaigning in Nuapada and is set to file his nomination papers on October 18. Majhi had contested the 2024 elections as an Independent candidate from the Nuapada seat and secured the second position.The last date for filing nominations for the Nuapada by-poll is October 20. Scrutiny of papers will be conducted on October 22, and the last date for withdrawal of nominations is October 24. The tax panel also lowered the effective tax for big cars to 40% from the current rate of as much as 50%, making cars from Mercedes-Benz AGMBGn.DE, AUDI Aktiengesellschaft and BMW BMWG.DE attractive. GST on EVs was kept at 5%, giving relief to carmakers such as Tata Motors TAMO.NS and Mahindra & Mahindra MAHM.NS after a panel recommended an increase. “We have taken this decision as our forensic investigation of the cyber incident continues, and as we consider the different stages of the controlled restart of our global operations, which will take time,” JLR said in a statement on its website.
A survey on Friday showed that some firms were reducing staff hours or making redundancies. Last week, JLR said it told suppliers that some systems were online, including the ones that control the supply of parts worldwide and the financial system that controls the wholesale of vehicles. Oct 8 (Reuters) – British car dealer Vertu Motors VTU.L on Wednesday warned of a hit of up to 5.5 million pounds ($7.4 million) to annual profit from disruptions due to a cybersecurity incident at Jaguar Land Rover, sending its shares down 3.5% in early trading.
More than 100 companies have been hit by hackers targeting Oracle’s ORCL.N suite of business products, Google’s GOOGL.O Threat Intelligence Group has revealed. Finance Minister Nirmala Sitharaman was one of the ministers present at the meeting in New Delhi, which Tata Sons Chair N. Chandrasekaran and Tata Trusts head Noel Tata attended, the report added. Yet the board of Tata’s main holding company, led by Natarajan Chandrasekaran, is at only three-fifths of its March 2024 strength after a tussle between trustees at the charitable trusts resulted in the ousting of a director of Tata Sons in September. The profit of Tata Motors is ₹21,297 Crs for TTM, ₹27,830 Crs for Mar 2025 and ₹31,399 Crs for Mar 2024.
India’s goods and services tax (GST) council is due to meet later this week to discuss the most significant overhaul of the tax system since its launch, after Prime Minister Narendra Modi announced the proposal last month. Carmakers such as Maruti MRTI.NS and Toyota 7203.T, and manufacturers of consumer applicance such as LG Electronics LGEL.NS and Sony 6758.T are set to benefit immediately when the new rates kick in. The cut is expected to lift the sales of fast-moving consumer goods firms such as Hindustan Unilever HLL.NS, Nestle NEST.NS and Godrej Industries GODI.NS, while lowering costs for farmers.
- But in recent weeks it has become the only choice at nearly all fuel stations, causing furore among drivers over its impact on vehicle performance and durability, especially older vehicles.
- Tata Motors strives to bring new products that captivate the imagination of GenNext customers, fuelled by state-of-the-art design and R&D centres located in India, the UK, the US, Italy, and South Korea.
- And it is working on a deal to offer loans to its suppliers, per The Sunday Times.
- Although exports resumed in May, the company cut its profit margin target for fiscal 2026 to 5%-7%, down from 10%, citing ongoing trade uncertainty.
- “As part of the controlled, phased restart of our operations, today we have informed colleagues, suppliers and retail partners that sections of our digital estate are now up and running,” a company spokesperson said in a statement.
- India’s goods and services tax (GST) council is due to meet later this week to discuss the most significant overhaul of the tax system since its launch, after Prime Minister Narendra Modi announced the proposal last month.
Tata Motors major competitors are Mahindra & Mahindra, Hindustan Motors, Maruti Suzuki. However, these older fuel mixes have now been removed from nearly all of the country’s 90,000 fuel stations, leaving drivers with just one choice – a decision that is unlikely to change. While India has been gradually rolling out E20 fuel since 2023, older blends, like E5 and E10, typically seen as more compatible with older vehicles, were also offered. Banerjee said claims of a 50% drop in fuel efficiency are unfounded and misinformed.
But the stock is up 4% since Jaguar Land Rover’s production ground to a halt, perhaps because the parent has ample financing flexibility. The British government has offered a 1.5 billion pound loan guarantee to the unit, which has 34,000 UK workers, with an additional 120,000 employed in the country by companies in its supply chain. The carmaker has also signed a 2 billion pound funding facility from Standard Chartered, Citigroup and Mitsubishi UFJ Financial Group, the Financial Times reported, citing sources. And it is working on a deal to offer loans to its suppliers, per The Sunday Times.
SBI Short Term Debt Fund – Retail Plan
The automaker said the incident, which is under investigation, exposed only basic contact information and did not involve financial details or sensitive personal data. The business ministry said the loan would be privately financed and guaranteed by Britain’s export credit agency UK Export Finance, and was expected to unlock 1.5 billion pounds of support for the carmaker’s supply chain. This comes a day after Britain said it will back JLR with a $2 billion loan guarantee to help support its supply chain in the wake of the production shutdown after the attack.
- The company’s Boutique Division will debut Project Gravette, a fully bespoke Porsche 993, as its first offering in this segment.
- Sept 24 (Reuters) – The following are the top stories on the New York Times business pages.
- LONDON, Sept 23 (Reuters) – Britain’s biggest car maker Jaguar Land Rover (JLR) is extending the closure of its factories due to a cyber attack until October 1, Sky News reported on Tuesday, stretching the length of the shutdown to over four weeks.
- The tax panel also lowered the effective tax for big cars to 40% from the current rate of as much as 50%, making cars from Mercedes-Benz AGMBGn.DE, AUDI Aktiengesellschaft and BMW BMWG.DE attractive.
Tata Motors Share Holding
S&P Global Ratings reckons for every week of disruption, Jaguar Land Rover incurs an up to 500 million pound ($672.8 million) hit to revenue. India set a 2025 target years ago for 20% ethanol blending in fuel, called E20, as part of Prime Minister Narendra Modi’s focus on clean energy. But in recent weeks it has become the only choice at nearly all fuel stations, causing furore among drivers over its impact on vehicle performance and durability, especially older vehicles. LONDON, Sept 16 (Reuters) – Britain’s largest carmaker, Jaguar Land Rover, said a pause in production due to a cyber attack would now stretch to September 24, extending the stoppage at its British plants to more than three weeks. Automakers worldwide have reported a spate of cyber and data breaches in recent months, as increasingly sophisticated threat actors disrupt operations and compromise sensitive data. The carmaker, which is owned by India’s Tata Motors TAMO.NS, has three factories that together produce about 1,000 cars per day, and sustain many jobs in the area around Birmingham, Britain’s second biggest city, and the northern city of Liverpool.
The government has cut taxes on items such as cars, TVs and even cement, which could boost sales during the festival season that typically runs from the last week of September until November. India’s tax panel also cut GST on air conditioners, ambulances, dishwashers, three-wheelers and hybrid vehicles. LONDON, Sept 27 (Reuters) – Britain will back Jaguar Land Rover with a 1.5 billion pound ($2 billion) loan guarantee to help support its supply chain in the wake of the luxury carmaker’s production shutdown following a cyberattack. The luxury carmaker, owned by India’s Tata Motors TAMO.NS, said it shut down its systems in early September to contain the hack that has severely disrupted its retail and manufacturing operations. LONDON, Sept 23 (Reuters) – Britain’s biggest car maker Jaguar Land Rover (JLR) is extending the closure of its factories due to a cyber attack until October 1, Sky News reported on Tuesday, stretching the length of the shutdown to over four weeks.
India’s tax cut boosts automaker Mahindra’s SUV sales to dealers
It first disclosed the incident on September 2, when it shut down its operations and warned production would be “severely disrupted”. HONG KONG, Oct 6 (Reuters Breakingviews) – Jaguar Land Rover’s manufacturing has stalled following a devastating cyberattack. But its $30 billion parent Tata Motors’ TAMO.NS recently slimmed-down balance sheet means the carmaker can borrow its way out of the crisis without too much stress.
Frequently Asked Questions on Tata Motors
“On road it could be very different because of the way in which the vehicles are maintained and driven so that difference will be there,” said C.V. Banerjee, executive director at the Society of Indian Automobile Manufacturers (SIAM), told reporters late on Saturday at a news event in New Delhi. India will have two key tax rates of 5% and 18% from September 22, versus four now. A new tax slab of 40% will apply to high-end goods, but all additional levies above that are to be abolished, bringing down effective tax rates on mid-size and big cars.
Automakers, already battling slower sales and shortages of rare-earth magnets, have provided mixed guidance, adding to consumer anger over the lack of choice. Public interest litigation against the move will be heard in the Supreme Court on Monday. The government lowered taxes on fertiliser and tractors to help lower costs for farmers, recently come in the spotlight as Prime Minister Narendra Modi vowed to protect them following a breakdown in India-U.S. The Unite trade union has warned of job losses and said government support would be needed if the stoppage continues.
A measure of price volatility, these values reflect highest and lowest prices at pin-up casino india which a stock has traded during the current trading session. The current mutual fund holding in Tata Motors is 10.18% while previous quarter holding is 10.61%. Balance sheet of Tata Motors is moderately strong, But short term working capital might become an issue for this company.
Does Tata Motors pay decent dividends?
Classic BBC shows are set to appear on Channel 4’s streaming platform following a landmark deal between the two broadcasters. Troubled wind farm operator Ørsted ORSTED.CO has put hundreds of UK jobs at risk as part of a sweeping overhaul to cut costs. The chances of the US stock market crashing is far greater than many financiers believe, JPMorgan Chase JPM.N CEO Jamie Dimon said.
India Auto Industry Body SIAM Says August Total Domestic Sales 321,840 Units
KOLKATA, Oct 13 (Reuters Breakingviews) – A power struggle at one of its largest business houses is the last thing India needs as it grapples with punitive U.S. tariffs. Sector and Company PE comparisons help investors identify whether a stock is over or under valued. In recent weeks, worried motorists took to social media over concerns about large fuel efficiency drops and confusing statements from carmakers. Carmakers first said E20 fuel had not been tested for compatibility with older vehicles, but backtracked later saying it is safe to use.
JLR Says Retail And Production Activities Have Been Severely Disrupted by Cyber Incident
Tata Motors’ Jaguar Land Rover is working on a deal to lend up to 500 million pounds ($672 million) to its suppliers as the company manages the ongoing fallout from a cyberattack that shut down its production. All markets were impacted in the quarter but the UK was impacted the most due to the planned wind down of legacy Jaguar models and the cyber incident. “We are currently working with our insurance brokers and insurers to assess a potential claim under our insurance policy, which extends to the impact of third-party systems outages,” Vertu CEO Robert Forrester said in a statement. Vertu, which operates 10 JLR dealerships, said about 2 million pounds of the profit impact was in September, with the full-year effect hinging on when JLR restores its systems.
Scientific studies conducted in a controlled environment show a 2%-4% decrease, putting a number to the reduction for the first time, he said. The tax on coal went to 18% from 5%, but the effective tax rate on fizzy drinks make by PepsiCo PEP.O and Coca-Cola KO.N was held at 40%. A tax panel approved lower GST of 5% on items of everyday use such as packaged food, medicines, toothpaste, fruit, milk products, talcum powder and shampoo, against 12% to 18% now. The disruption comes as JLR faces broader challenges, including weaker demand in China and Europe, and delays to the launch of its electric vehicle models. Mahindra said SUV sales during the first nine days of the auspicious Navratri festival, which ran from September 22 to October 1, rose over 60% year-on-year.
