It hurt when country looked at Tata Motors as a failing company: Ratan Tata
In 2013-14 and 2014-15, Tata Motors' average market share was 54.7 per cent. However, it fell to 51.9 per cent in 2015-16 and further to 49.2 per cent in 2016-17. In just four years, the company had lost close to 5 per cent market share.
- Apr 3, 2018,
- Updated Apr 3, 2018 1:07 PM IST
Tata Group Chairman Emeritus Ratan Tata on Monday said that he was hurt when Tata Motors lost its market share and people saw it as a failing company. He said this while addressing an annual townhall of employees in Pune. Tata asked the employees to become the leader again. He said: "It hurt me that we lost market share in the last four to five years and we became the company that the country looked at as a failing company."
In 2013-14 and 2014-15, Tata Motors' average market share was 54.7 per cent. However, it fell to 51.9 per cent in 2015-16 and further to 49.2 per cent in 2016-17. In just four years, the company had lost close to 5 per cent market share. In 2016-17, Tata Motors standalone gross revenues was at Rs 49,100 crore. However, the loss after tax was Rs 2,480 crore.
The company's commercial vehicles had lost around 15 per cent market share in domestic markets. However, Tata Motors improved its domestic sales significantly in 2017-18. It recorded a sales of 5,86,639 units in FY18 compared to 4,78,362 units in FY17, a jump of 23 per cent.
"In all the years that I was here, I really believed that this company had tremendous spirit and tremendous capabilities. I stand here today, and I am happy to see the same spirit, that same doability is back together. That's terrific," Tata said.
He wants Tata Motors to see those days again. "We should plan on doing that again. We should plan on being leaders and not followers. And we should get back the spirit that we had which I see today that anything we want to do we will succeed in doing," Tata told the employees.
Tata expressed his confidence at the leadership of Chairman N Chandrasekaran and MD Guenter Butschek and said that the Tata Motors would do better in the future. Tata said: "All of you (employees) have been terrific contributors in your field and we should feel proud of the place we have built in the past and under Chandras and Gunters leadership we will continue to build in the future."
Tata's statement came days after Tata Motors reported 35 per cent increase in total sales to 69,440 units in March as compared to 51,309 units in the same month last year. Domestic sales of Tata Motors commercial vehicles grew by 37 per cent to 49,174 units in March, as compared to 35,876 units in FY 2017.
Last week, Tata Motors in a BSE filing said: "Growth was on the back of governments push towards infrastructure development, restriction on overloading, road construction and mining activities along with increasing demand from e-commerce & FMCG applications."
(With inputs from PTI)
Tata Group Chairman Emeritus Ratan Tata on Monday said that he was hurt when Tata Motors lost its market share and people saw it as a failing company. He said this while addressing an annual townhall of employees in Pune. Tata asked the employees to become the leader again. He said: "It hurt me that we lost market share in the last four to five years and we became the company that the country looked at as a failing company."
In 2013-14 and 2014-15, Tata Motors' average market share was 54.7 per cent. However, it fell to 51.9 per cent in 2015-16 and further to 49.2 per cent in 2016-17. In just four years, the company had lost close to 5 per cent market share. In 2016-17, Tata Motors standalone gross revenues was at Rs 49,100 crore. However, the loss after tax was Rs 2,480 crore.
The company's commercial vehicles had lost around 15 per cent market share in domestic markets. However, Tata Motors improved its domestic sales significantly in 2017-18. It recorded a sales of 5,86,639 units in FY18 compared to 4,78,362 units in FY17, a jump of 23 per cent.
"In all the years that I was here, I really believed that this company had tremendous spirit and tremendous capabilities. I stand here today, and I am happy to see the same spirit, that same doability is back together. That's terrific," Tata said.
He wants Tata Motors to see those days again. "We should plan on doing that again. We should plan on being leaders and not followers. And we should get back the spirit that we had which I see today that anything we want to do we will succeed in doing," Tata told the employees.
Tata expressed his confidence at the leadership of Chairman N Chandrasekaran and MD Guenter Butschek and said that the Tata Motors would do better in the future. Tata said: "All of you (employees) have been terrific contributors in your field and we should feel proud of the place we have built in the past and under Chandras and Gunters leadership we will continue to build in the future."
Tata's statement came days after Tata Motors reported 35 per cent increase in total sales to 69,440 units in March as compared to 51,309 units in the same month last year. Domestic sales of Tata Motors commercial vehicles grew by 37 per cent to 49,174 units in March, as compared to 35,876 units in FY 2017.
Last week, Tata Motors in a BSE filing said: "Growth was on the back of governments push towards infrastructure development, restriction on overloading, road construction and mining activities along with increasing demand from e-commerce & FMCG applications."
(With inputs from PTI)