Investvine.com-Aug 1
India’s Tata Motors in a press release issued on August 1 said that it decided to stop manufacturing operations in Thailand citing viability issues but would continue to sell vehicles in the country through imports.
As part of its “Turnaround 2.0” strategy, which includes ongoing market reviews, the company has undertaken a reassessment of its business model in Thailand “to ensure 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 operations in this financial year,” the statement said.
Tata Motors will offer a revamped product portfolio in Thailand, suitable to local market needs, delivered through a completely-built-unit distribution model. However, as Tata cars are then imported, they will inadvertently be costlier for Thai buyers.
http://investvine.com/tata-motors-calls-it-quits-in-thailand-and-moves-production-away/
