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Tata Motors Ratan Tata Says He Was Hurt

Ratan Tata

Ratan Tata

Tata Motors Ratan Tata Says He Was Hurt
Tata Motors, Automobile, Ratan Tata

Ratan Tata made a surprise visit to Tata Motors Pune plant to address employees and exhorted them to be leaders and not followers. Mr Tata was accompanied by Tata Sons chairman Chandrasekaran, arrived in Pune in an helicopter to a rousing welcome from Tata Motors employees.

“It hurt me that we lost market share in the last four to five years and we became the company that the country looked at as a failing company. In all the years that I was here, I really believed that this company had tremendous spirit and tremendous capabilities, I stand here today, and I’m happy to see the same spirit, that same do ability is back together,” Tata said.

Chandrasekaran, continued in the same vein, in his address. “If you look at the market cap of TML Group, actually there is no value, which is accorded to the Tata Motors domestic business, and I’m very confident that will change this year.”

It is a tradition at Tata Motors, started by Tata himself, when Tata Motors marks a beginning of the new financial year by way of the annual ”All Hands Meet.”

Tata said he was nostalgic about his return to the Town Hall at Lake House given that it is a place close to his heart and a place where he spent a lot of his time in the past.

Tata in his address said, “We should plan on being leaders and not followers. And we should get back the spirit that we had which I see today that anything we want to do, we will succeed in doing.”

“All of you have been terrific contributors in your field and we should feel proud of the place we have built in the past; and under Chandra’s and Gunter’s leadership, we will continue to build in the future,” he added.

He told employees he was proud to be part of Tata Motors.

Reflecting on the past of the company, Tata said there was nothing that the company undertook and tried and could not achieve, “be it the products, be it the entry into the passenger car area, new systems etc.

“It hurt me that we lost market share in the last four to five years and we became the company that the country looked at as a failing company. In all the years that I was here, I really believed that this company had tremendous spirit and tremendous capabilities, I stand here today, and I’m happy to see the same spirit, that same do-ability is back together,” exhorted Tata.

Incidentally, Tata Motors has regained its number fourth position in the passenger vehicle space at the end of FY-18 overtaking Honda Cars India.

As part of change in focus from transformation to turnaround in the middle of FY-18, Tata Motors managed to attain its targets of turning around the commercial vehicle business, this year the company is entering the phase 2 of turnaround called, Turnaround 2.0 which allocates more focus on turning around the passenger vehicle business so that it is self-sustaining and can plough back profits into its future plan.

The chairman of Tata Motors, Chairman, N. Chandrasekaran recalled meeting Mr. Tata and seeking his advice about Tata Motors. He recalled Mr Tata telling him that the people of Tata Motors have tremendous spirit, if only he can understand what the issues are and support them and challenge them they have enormous spirit to rise to the occasion.

“I remember visiting here after that and I must say there is a tremendous change in mood, you have done remarkably well in the last 12 months. Because anytime changing the curve is very very difficult, always, direction first, speed next, so the direction has changed,” added Chandrasekaran congratulating the employees.

The chairman told the employees that the expectations on this company is very high.

“If you look at the market cap of TML Group, actually there is no value, which is accorded to the Tata Motors domestic business, and I’m very confident that will change this year. Last year, if I said something positive I was saying it with hope, but this year I’m saying all these positive statements not with hope but with confidence,” added Chandrasekaran.

Guenter Butschek, the MD of Tata Motors said the concerted effort on the turnaround strategy of FY-18 led to many positive changes.

He highlighted the back-to-back product launches for both PV and CV and a stronger bottom line. He shared positive feedback on the IMPACT projects and their contribution to 50% of the Turnaround journey, among numerous other positives witnessed in the company.

Read more at:https://economictimes.indiatimes.com/industry/auto/news/industry/it-hurt-when-country-looked-at-tata-motors-as-a-failing-company-ratan-tata/articleshow/63581246.cms