Page 19 - Itata News Today

2023 was the third straight year of record sales for Tata Motors, which boasts the widest range of electric vehicles in its portfolio. Sales last year totalled 553,000, "led by its commanding position in the compact SUV segment and strong growth in hatches, despite the hatch segment degrowing at an industry level", said Shailesh Chandra, managing director, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility.

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Automakers in India have been following the practice of dispatching vehicles to their dealers on the basis of this retail performance, which doesnt always give the actual picture of on-ground sales. Since a vehicle is registered only when the buyer pays, registration numbers are the best indicator of the conclusion of the sales cycle, said people in the car retail business.

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The current consensus among political analysts is for Prime Minister Narendra Modi to retain power in next years general elections. In that case, expect a further consolidation of wealth in the hands of Mukesh Ambani, Asias richest businessman, and Gautam Adani, his closest rival.

Indias booming economy faces a challenge as corporate investment lags behind, posing a potential threat to sustained growth. While government spending on infrastructure receives praise, the private sectors reluctance to invest long-term is evident. PM Narendra Modi, focusing on foreign business ease, faces the dilemma of boosting confidence to spur private investment amid geopolitical opportunities arising from Chinas slowdown.

SUVs continue to dominate car sales in India as it increases its gap with share of smaller cars. Maruti contributed nearly half of overall car sales in India in 2023.

Tata firm TCS has been accused of stopping the salary of around 900 employees in the IT firm, as well as "forcing" employees to transfer.

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