Despite the economic slowdown and the volatile market, Tata Motors has quashed rumours of downsizing. In fact, the Company is very optimistic about the future, and has plans to launch new products over the next few months.
According to its website, the automobile major currently employs about 83,000 persons with presence across commercial and passenger vehicles.
According to Guenter Butschek, CEO, Tata Motors, there has been a crisis in the domestic market for some time now, and if the Company had really wanted to reduce the workforce, it would have done so long time back.
Tata Motors’ new products include Altroz, Nexon EV and Gravitas SUV, which are expected to be rolled out in a couple of months. The move to BS-VI norms is also in the offing. The CEO has also assured that the Company is equipped to survive the slump and is taking required measures in the commercial vehicles segment, where it happens to be a good performer, which will definitely help tide over the crisis. The Company is confident that its robust dealer network will continue to be a huge asset, and combined with its cost optimisation and quality-control measures, it is geared to face any challenge.
The Company’s net sales dipped by 44 per cent in the July–September quarter as compared to last year. While it earned a profit of Rs 109.14 crore last year, its net loss amounted to Rs 1,281.97 crore this year.