Nano targetted for no reason
Tata Sons Chairman N Chandrasekaran Monday said Nano has been targetted for no reason and shutting down or giving the small car a life is not a billion dollar question in front of Tata Motors. In an interview to a private TV channel, he admitted that the Nano is incurring losses but is just about 4 per cent of the losses that Tata Motors’ passenger cars make on a yearly basis. “People are targetting Nano for no reason. The only model that makes money is Indica, every other model makes losses,” Chandrasekaran said.
New Delhi : Tata Sons Chairman N Chandrasekaran Monday conceded that the group’s mobile business Tata Teleservices is in a “really bad shape” weighed down by a huge debt and monthly cash losses, and emphasised that he would take a “call” about the business in this financial year.
In a candid admission, Chandrasekaran told a private TV channel in an interview that a turnaround of Tata Teleservices was an extremely difficult task and that he is committed to finding a solution “one way or the other” very quickly. The Tata Sons honcho did not directly answer whether the group would close down the business but said that a “tough call” will have to be taken on Tata Teleservices, an issue that tops his priority at present.
“Tata Teleservices…is in a really bad shape. They have a huge debt. The footprint we have and the spectrum we have is very difficult…close to impossible for us to recover. So that is a company we are going to find a solution very quickly,” he said. Asked how much time will he take to decide on the future of Tata Teleservices, Chandrasekaran said, “I am looking at all options and I will figure out a way this fiscal year”.