DTC’s foreign bus plan could hit Tata, Leyland

Roudra Bhattacharya The Financial Express New Delhi: In what could spell fresh trouble for the commercial vehicle industry caught in a slump, Tata Motors and Ashok Leyland could lose orders for about 600 low-floor buses to be purchased by the Delhi Transport Corporation (DTC) to Chinese, Polish and Swedish manufacturers. Ramakant Goswami, transport minister for Delhi, told FE: “The price and maintenance costs quoted by Tata were unrealistic; so, we have asked a few foreign companies to run buses, on a trial basis, on Delhi roads.” Goswami said foreign manufacturers were willing to sell the buses cheaper, though he did … Continue reading DTC’s foreign bus plan could hit Tata, Leyland

Singur’s farmers discover the lie of the land

Ishita Ayan Dutt Business StandardKolkata: Singur has always been kind to Mamata Banerjee. First, it resurrected her political career. Then, just days before the panchayat elections this month, as angst over an unending wait for the return of land acquired for Tata Motors’ small car project from farmers who did not wish to sell was growing, the Supreme Court suggested that the company return the land. Banerjee and Singur share a history that dates back to 2006. On May 18, that year, a beaming Buddhadeb Bhattacharjee, who had just been sworn in for a second term as chief minister, announced … Continue reading Singur’s farmers discover the lie of the land

In the last 40 years, we never shut operations in any market: Daimler Financial Services India Chief

Sanjay VijayakumarThe Economic Times Captive financing arms of auto companies have a stricter tier-I capital ratio requirement than non-captives. That should change, says Sidhartha Nair, Managing Director of Daimler Financial Services India, a Daimler arm, begs to differ. In an interview with ET, he says captives have a big role to play in markets such as India. Edited excerpts: With India having a well-spread-out network of banks and non-banking financial companies, is there a need for captives?In India, 70% of the cars and 95% of the trucks are financed. So we have a big role to play. In established markets, … Continue reading In the last 40 years, we never shut operations in any market: Daimler Financial Services India Chief