NEW DELHI: Tata Motors has forayed into the Bolivian commercial vehicle (CV) market with the launch of three products in the South American country.

The Mumbai-based auto major has entered Bolivia through a distribution agreement with local partner Bolivian Auto Motors, which is part of Salvatierra, a business conglomerate engaged in distribution of motor vehicles and motor cycles in the Latin American country.

Tata Motors today said it has launched its first product, a versatile mini-truck SuperAce, in Vietnam.

The company has launched the vehicle in the Vietnam market, a year after foraying into the South East Asian country along with its local partner TMT Motors.

Commercial vehicle (CV) makers Tata Motors and Ashok Leyland have seen a sharp rise in bus orders from state transport undertakings (STUs). The two firms have together bagged orders for 8,600 buses worth about Rs 1,500 crore in the first five months of the current financial year. Most of these orders will be executed during the current financial year. STUs account for bulk of bus purchases in the country.

Tata Motors has bagged orders worth Rs 900 crore for over 5,000 buses from various state and city transport undertakings in the first five months of the financial year. The numbers mark a sharp 80% jump in order book over last year. Most of these orders will be executed during the current financial year.

“The big surge in STU (State Transport Undertakings) buying across, is being witnessed after a gap of nearly four years, indicating renewed focus of various state governments / city transport providers on public transport,” the largest commercial vehicle player in the country said.

Tata Motors will focus on reducing the number of platforms used in manufacturing passenger vehicles and increase platform sharing to drive down costs. The company will look at ways to weed out inefficiencies among its component suppliers to drive down costs.

"Today, individual cars sit on individual platforms. It is not a healthy way. We will look at sharing of platforms," Guenter Butschek, chief executive officer and managing director told journalists today.

Benchmark indices staged a recovery in late trades to end higher with Tata Motors leading the gains after brokerages remained bullish on the stock while weakness in IT shares capped further upside.

The S&P BSE Sensex ended up 120 points at 27,903 and the Nifty50 settled 35 points higher at 8,607. In the broader markets the BSE Midcap and Smallcap indices ended up 0.2%-0.3%.

Tata Motors has moved higher to its 52-week high of Rs 523, up 4% on the BSE in early morning trade on Monday, on expectations of continued robust volume growth going forward.

Analysts at Religare Institutional Research expect strong volume growth to continue for Jaguar Land Rover (JLR) with XE available globally, gradual availability of the newly launched F-Pace and Evoque Convertible across markets in FY17, and the launch of Jaguar XFL by the China JV.

MUMBAI: Tata Motors on Friday reported a 57% decline in consolidated net profit at Rs 2,260.40 crore for the first quarter ended June 30, due to post Brexit adverse foreign exchange impacting its British arm JLR.

The city-based company had posted a consolidated profit of Rs 5,254.23 crore in the same period last fiscal, Tata Motors said in a BSE filing.

Tata Motors has carried out raids in 19 locations across the country in recent months to help curb counterfeit products, as part of its campaign against spurious spare parts that started in 2012-13.

The raids were conducted on 19 spurious Tata parts manufacturers and duplicate packaging suppliers across the country, the company said on Friday.

Tata Motors shares were trading higher in the afternoon trade on Wednesday after the company informed bourses that rating agency Standard & Poor’s (S&P) upgraded the long-term corporate rating of Tata Motors to ‘BB+’ from ‘BB’ earlier with stable outlook. At 2.42 am, shares of the auto major were trading 0.42 per cent up at Rs 509.05. The scrip opened the day at Rs 511.90 and has touched a high and low of Rs 514.35 and Rs 506.40, respectively, in trade so far.

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