Customers can book the Bolt online by making a payment of Rs 11,000, Tata Motors said in a statement. Zest, Bolt success hold key to Tata Motors' business profits: Moody's
Bolt, which will be available in petrol and diesel variants, is the second brand new vehicle from the company's stable after compact sedan Zest which was launched earlier this year.
The new car comes with various features including anti-lock braking system (ABS) for improved braking efficiency and corner stability control (CSC).
The profitability of the struggling domestic unit of Tata Motors, especially that of its passenger car division, depends on the success of the newly launched sedan Zest and the forthcoming roll out Bolt, says global rating agency Moody’s.
“The profitability of Tata Motors passenger car business depends on its ability to sell significant volumes of its new Zest and Bolt models,” Moody’s had said in a statement.
The company has Ba3 stable rating from the agency. “If TML sells at least 15,000 units a month of the Zest and the Bolt combined, its market share of the passenger car segment would be about 10 percent and re-establish the standing of the car business,” Moody’s vice-president and senior credit officer Alan Greene had said.
The compact sedan Zest competes with the established brands like Maruti D’zire, Honda Amaze and Hyundai Xcent. The company plans to launch the hatchback Bolt by the end of the year. On the company’s credit profile, the agency sees the company demonstrating weaker consolidated credit metrics this fiscal, but does not see any downgrade as it global arm JLR looks to continue to report strong set of numbers, helping to retain the current high rating level.
On the other hand, revenue from Tata and other brand vehicles and financing during the quarter were at Rs 9,898.38 crore, down 11.33 percent. JLR paid 150 million pounds dividend to the parent during the quarter. The domestic unit or the parent, has nearly halved net profit to Rs 394 crore, frm Rs 703 crore a year ago, as sales have been on the decline for many quarters.
Zest and Bolt were considered to be game changers for the Tata Motors passenger car mainly in the petrol segment. The petrol version of Zest with new engine Revotron offered three drive modes, sport, eco and city.
Customers can book the Bolt online by making a payment of Rs 11,000, Tata Motors said in a statement.
Zest, Bolt success hold key to Tata Motors' business profits: Moody's