Tata Motors ceases manufacturing in Thailand

Tata Motors has announced that it will be ceasing its manufacturing operations in Thailand. The automaker stated that the decision was made due to a sub-scale and unsustainable business in the region. In a statement, Tata Motors said, "As part of this ongoing review, we have undertaken a reassessment of our business model in Thailand to endure it is sustainable over the long term. The business as it stands today is sub-scale and not sustainable. We have hence decided to cease the current manufacturing operation in this financial year." The company, however, will continue to retail its offerings in the market through imports. The decision is part of Tata Motors′ Turnaround 2.0 strategy that aims for delivering consistent, competitive and cash accretive growth. One of the six pillars is net debt and subsidiaries. Going forward, the automaker said that it shall continue to address the Thailand market with a revamped product portfolio that suits the local needs and will deliver through a CBU distribution model. The company further added, "Tata Motors is committed to the ASEAN region wherein Thailand is an important market and the company endeavours to continue serving customers as it transitions to the new operating model."