Tata Motors to cut costs by Rs3,000 crore annually

Tata Motors has been implementing several measures to control costs.

In an interview with global bank Credit Suisse, Karl Slym, managing director, Tata Motors, said the company was implementing several cost-savings measures that would save up to Rs3,000 crore a year.

He added Tata Motors was reducing the number of suppliers from 1,400 to 400 and working on major platform consolidation by 2016.

All the 12 new models would be made on the same platform and the steps would result in savings of Rs3,000 crore a year within three years, Slym said.

The company might have up to 12 new vehicles by 2020, including cars and sports utility vehicles (SUVs) on the new platform.

A new SUV which would share the Jaguar Land Rover platform, would also be launched.

According to Slym, the revival of the car segment would precede that of the commercial vehicles segment.