Toyota Kirloskar Motor is planning to increase vehicle prices from next month in order to partially offset rise in input costs.
Shares of Tata Motors settled nearly 5% down on JLR's job cut plans to scale back production at some of its UK sites.
Shares of Tata Motors fell more than 4 % in morning trade after Jaguar Land Rover said it is planning to cut jobs to scale back production at some of its UK sites.
Shares of Tata Motors today surged as much as 6% on the bourses after JLR India reported a 83% rise in FY18 sales and lined up 10 new products for the new fiscal.
BlackBerry, Jaguar Land Rover said they reached a licensing agreement to use the Canadian company’s software in the luxury car brand’s next-generation electric vehicles.
"We were expecting a double digit growth in 2018. But the customs duty hike would depress it down to a single digit", he said.
Sales of Jaguar brand of vehicles in February were at 11,565 units, a fall of 5.2 per cent, the company said.
Net profit for the quarter ended Dec. 31 came in at 11.99 bn rupees ($187.15 mn) versus 937.7 mn rupees in the same quarter a year earlier.
Tata Motors-owned Jaguar Land Rover (JLR) has sought reduction in GST rates on premium sedans and SUVs in order to help the luxury segment grow in the country.
Jaguar Land Rover launched its latest SUV model, Range Rover Velar in India priced between Rs 78.83 lakh and Rs 1.38 crore (ex- showroom Delhi).
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Projects under Saubhagya Yojna
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