Tata Harrier SUV Launched In India with prices starting at Rs 12.69 lakh

With the Harrier, Tata Motors is looking for significant gains in India's competitive utility vehicle market

 

Automobile News: Tata Motors' Harrier is all set to go on sale from Wednesday. With prices starting from Rs 12.69 lakh to Rs 16.25 lakh, the five-seater SUV will compete with the Jeep Compass, Hyundai Creta and the Mahindra XUV500.

 

With competitive pricing, the Harrier takes on the rivals head-on. While the Compass is priced at Rs 15.40 lakh to Rs 22.90 lakh, the Creta prices start at Rs 9.60 lakh, going up to Rs 15.64 lakh, and the XUV 500 is priced from Rs 12.65 lakh to Rs 19 lakh.

"The Harrier is a gamechanger for Tata Motors," said Guenter Butschek, chief executive and managing director at the firm, adding that it will take the brand perception of Tata Motors a notch higher.

With the Harrier, Tata Motors is looking for significant gains in India's competitive utility vehicle market where its share in the first nine months of the current financial year stands at 10.84 per cent over a year ago period, according to Society of Indian Automobile Manufacturers (Siam).

Powered by the 2.0-litre turbocharged diesel from Fiat Chrysler Automobile India, the model has a six-speed manual gearbox. While there’s no four-wheel drive, the Harrier does get ESP-based ‘Terrain Response’ modes — normal, wet and rough road.

Know More → Tata Harrier SUV

 

 

Full text of Cyrus Mistry's letter to Tata Sons Board

While Tata Sons followed up the sacking of its Chairman Cyrus Mistry on October 24 by inducting two new directors into the board, the now ousted former chairman has criticised the board room 'replacement' in an October 25 emailed letter and termed the move as 'shocking and unparalleled' in the annals of corporate history.

According to the letter Mistry has not only described the board proceedings as invalid and illegal but also alleged that he had not been given any free hand despite being assured of the same by Ratan Tata before he accepted the top job. Mistry alleged that after he was appointed as chairman, Tata Trusts amended the articles of association which constrained his ability to engineer a turnaround. The text of the letter follows:

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From Cyrus P. Mistry
Date: 25 October 2016 at 22.05: 41

To:
Directors of Tata Sons Ltd.

I was shocked beyond words at the happenings at the board meeting of October 24, 2016. Apart from the invalidity and illegality of the business that was conducted, I have to say that the Board of Directors has not covered itself with glory.

To "replace" your Chairman without so much as a word of explanation and without affording him an opportunity of defending himself in a summary manner must be unique in the annals of corporate history. The suddenness of the action, and the lack of explanation has led to all manner of speculation and has done my reputation and the reputation of the Tata Group immeasurable harm..............................

Sincerely,
Cyrus
(Cyrus P Mistry)
C.C. Trustees of Tata Trusts

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Why was Cyrus Mistry sacked? Top possible reasons for his exit

Ratan Tata, patriarch of one of India's most influential families, will take over as interim chairman of Tata Sons after the salt-to-software conglomerate's board ousted Cyrus Mistry, who had sought to shake up the firm's management.

Tata, who had stepped down as chairman and was replaced by Mistry in late 2012, will head the group for four months while the company seeks a replacement.

Related Story:  Cyrus Mistry's exit: Should you buy or sell Tata Group shares?

Tata Sons is a large shareholder in a string of listed Tata Group companies - a business empire ranging from Jaguar Land Rover cars and steel mills to aviation and salt pans.

The board said in a statement on Monday it was decided "it may be appropriate to consider a change for the long-term interest of Tata Sons and Tata group."

While the board gave no detailed reason for the change, some media reports said there has been discontent with some of Mistry's actions, including asset sales.

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Here are the possible theories behind Mistry's ouster

1. Welspun acquisition
2. Management restructure
3. Vision missing?
4. Tough decision?

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