Commenting on his appointment Mr Llistosella had said, ” Having been bonded to India for so many years, a new exciting chapter is now opened. We would jointly awaken the potential of Tata Motors.”
Mr Guenter Butschek had informed his desire to relocate to Germany at the end of the contract for personal reasons. He has kindly accepted the request of the Board of Tata Motors to continue as the MD & CEO till 30th June 2021. The company is currently back on the growth mode after recording years of challenging period.
The auto major posted a 67.2% surge in profit for the December quarter, following a pick-up in sales in several of the carmaker’s key growing markets. Due to a strong festive season,rural pick up and preference for personal mobility, its PV business posted its highest sales in last 33 quarters. In the past one month, Tata Motors has outperformed the market as its shares rose 67 per cent on better operational performance. Analysts say the company saw continued volume recovery in both businesses in Q3FY21