Tata Motors to invest Rs 16,000 cr in 4 years for development, tech boost

  • HT Correspondent, Hindustan Times, Mumbai
  • Updated: Aug 01, 2014 01:10 IST

Tata Motors is increasing its capital expenditure in the domestic business and will invest Rs 3,500 crore to Rs 4,000 crore per year for the next 3-4 years, compared with its Rs 2,700 crore last year, Tata Motors chairman Cyrus Mistry told shareholders at the company’s annual general meeting (AGM) on Thursday.

The spends will go towards new product development, technological enhancement and revamping the dealer network.

The company has been struggling in the domestic market as an economic slowdown has hurt sales of commercial vehicles, while no new significant car launches over the last four years has led to a sharp deceleration and loss in market share in its passenger vehicle business.

During the AGM, several shareholders rapped the company management for its poor performance in India.

Mistry acknowledged that Tata Motors had fallen short on expectations, but was now taking steps in the right direction. “Clearly India (business) has not done well and we need to accept that. I think, the market itself has not been good, but performance could have been better. There is a lot of transformational work being done now, which will take time to take effect,” Mistry said.

From Around the Web
Sponsored by Revcontent

also read

RBI fines BoB Rs 5 cr, HDFC Bank Rs 2 cr
Show comments

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Chrome and Ad BlockPlus users

1.Press the ‘ABP’ icon in your toolbar at top right of this page

2. Click on ‘Enabled on this site’; this should now change to ‘Disabled on this site’


chrome



For Chrome and Ad Block users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don’t run on pages on this domain’ and then click ‘exclude’ on the pop up


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Mozilla and AdBlock Plus (ABP) users

1.Press the ‘ABP’ icon in your toolbar

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Internet Explorer and AdBlock Plus users

1.Press the ‘AdBlock Plus’ icon in your status bar at the bottom of the screen

2.Select the option ‘Disable on hindustantimes.com’


chrome

Steps to disable Ad Blocker on your browser


In order to serve content on our website, we rely on advertising revenue which helps us to ensure that we continue to serve high quality unbiased journalism. From our end, we will aim to show clean and unobtrusive ads to provide you with a great browsing experience.

Request to please follow the steps below and once done, please refresh your page.


For Safari and AdBlock users

1.Press the ‘AdBlock’ icon in your toolbar

2.Select the option ‘Don't run pages on this domain’ and then click 'exclude'


chrome