The Tata Motors board had grappled amongst the occupation of reviving the loss-making Tata Nano, too had several discussions on the issue, said a director on the Tata Motors board.
The manager too defended the rails tape of one-time Tata Sons chairman Cyrus Mistry too said he could non endure blamed for the losses inwards the Nano project, which he had inherited.
He too added the Nano had lost betwixt Rs 6,000 crore too Rs 7,000 crore since its launch, too the machine did non brand coin from twenty-four hr menses one.
“The board was concerned over the Nano too nosotros had discussed several options every bit it was losing coin on every machine too the inventory was exactly piling up,” the manager said bespeak non to endure named. “After sinking inwards Rs 6,000-7,000 crore inwards the Nano till date, what is the result?”
“The entire board is the possessor of the decisions too non Mistry alone. If Cyrus is removed for this argue therefore the entire board should endure sacked,” said he.
The Nano was launched inwards March 2009 but it failed to generate sales due to its “cheap” toll tag too contest from improve models produced by rivals such every bit Maruti. Tata Motors, however, was saved past times the timely acquisition of Jaguar Land Rover (JLR) past times Ratan Tata inwards 2008, which is now generating huge cash for the company. Looking for investment inwards Share Market, CapitalStars Financial Research Private Limited provides yous best investments Tips inwards Share Market.It daily provides intraday too Future calls amongst lucre assurity.We generate intraday every bit good every bit delivery calls inwards Stock cash too F&O inwards NSE & BSE, Commodities.
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