Tata Motors to exit mfg in Thailand

Mumbai: Twelve years after it entered Thailand, Tata Motors — the flagship of the $100-billion Tata Group — has decided to reduce its operations there as it finds the business “sub-scale” and “not sustainable”. The company will exit manufacturing in Thailand but will continue to sell its mini trucks in the region by exporting them from India. Tata Motors (Thailand), in which the parent indirectly holds nearly 96%, posted a loss of Rs 133 crore in fiscal 2018.tnnThe company has reassessed the business model to stem losses, its CFO P Balaji said. He, however, didn’t comment whether the restructuring would lead to any write-offs on the books of Tata Motors. “Going forward, the company will address the Thai market with a revamped product portfolio, delivered through a completely built-up (CBU) distribution model,” the company said. Tata Motors entered Thailand in 2006 through a joint venture with a local automobile assembler, Thonburi, to make and market pickup trucks. Subsequently, the Indian company bought out the partner in Tata Motors (Thailand), which in fiscal 2018 sold just 958 units.