Auto

Tata Motors shares opened at 289.70 and dipped to Rs 275.10 during the session. At days low, Tata Motors share price marked a decline of 10.7 cent in two days.

In the April-September period this fiscal, Maruti Suzuki India (MSI) exported 57,300 units of passenger cars as against 54,008 units in the year-ago period, up 6 per cent, according to the latest data by Society of Indian Automobile Manufacturers (SIAM).

The dismissals were a result of a company-wide annual review, Tesla said in an emailed statement.

Maruti Suzuki India's domestic sales stood at 1,51,400 units, up 10.3 per cent from 1,37,321 units in September 2016, the company said in a statement.

Tata Motors said its Chief Financial Officer C Ramakrishnan has retired with effect from today.

The company's arm Ford Smart Mobility LLC will initiate a pilot project of its smart shuttle services in Chennai by the end of this year.

Luxury vehicle manufacturers have hit out at the move to hike cess on large cars and SUVs to 25 per cent, saying it was against the spirit of liberal market dynamics and would affect future plans of expansion under the Make in India initiative.

Every developed country has a strong automotive industry and India must look to strengthen the sector, which today accounts for nearly 50 per cent of the country's manufacturing GDP, says auto industry body SIAM.

The case was related to non-receipt of interest in 1990 on the debentures of Tata Engineering and Locomotive Company, later re-christened as Tata Motors.

Automobile firms criticised the government's "hurry to implement the hike in cess" saying a review could have been taken after six months when impact of GST (Goods and Services Tax) would have been clearer.

The vehicles that fall under headings 8702 and 8703 include mid-segment, large cars, SUVs and motor vehicles which can carry more than 10 persons, but less than 13.

The GST Council, had on August 5 approved raising cess on SUVs, mid-sized, large and luxury cars.

The company is looking return to profitability in this fiscal by optimising its current production lines.

Meanwhile other key officials saw their remunerations cut in a year when the company was saddled with losses.

The ban on petrol and diesel cars as well as vans follows a similar proposal by the French government, and will also include hybrid vehicles that have an electric motor and a petrol or diesel engine.