TATAMOTORS

Aug 5 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

- Scottish rocket maker looks abroad for launch due to lack of UK facilities

- Jaguar Land Rover names Tata Motors CFO as new chief executive

- Donald Trump's move on institutions 'wrong', says German finance minister

- Liechtenstein's LGT invests in CVC-owned Teneo

- UK aims to slash clinical trials set-up time from 9 months to 10 weeks

Overview

- Scottish rocket maker Skyrora is exploring the possibility of launching from Australia, after it was granted a long-awaited UK licence only to learn there are no British facilities available for the rest of the year.

- Jaguar Land Rover has appointed the finance boss of Tata Motors TAMO.NS, PB Balaji, as its new chief executive, in a move that increases the Indian owner's influence over the UK luxury-car maker.

- Germany's finance minister Lars Klingbeil has criticised Donald Trump's move to interfere with the Federal Reserve's rate policies and fire a chief statistician, saying the US president's actions were politically "wrong".

- Teneo has received a minority investment from an asset manager owned by Liechtenstein's royal family, in a deal that values the advisory group at $2.3bn and ends a long-running process by the firm's owner CVC to sell down its stake.

- The UK government is seeking to cut the time it takes to set up clinical trials by more than two-thirds, as it aims to lure more companies to Britain and boost the life sciences sector.

(Compiled by Bengaluru newsroom)

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MILAN, Aug 4 (Reuters) - Iveco IVG.MI has closely coordinated with the Italian government deals to sell its truck business to Tata Motors and its defence unit to Leonardo, a source with knowledge of the matter said on Monday.

India's Tata Motors TAMO.NS last week agreed to buy Iveco in a deal valuing it at 3.8 billion euros, while the Italian truck and bus maker separately agreed to sell its IDV defence business to Leonardo LDOF.MI, giving it an enterprise value of 1.7 billion euros.

(Reporting by Giulio Piovaccari, editing by Cristina Carlevaro)

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** Tata Motors TAMO.NS plans to raise about 1 billion euros ($1.14 billion) of equity to repay part of the loan funding its $4.5 billion offer to buy Iveco's IVG.MI trucks and bus business

** Shares down 2.2% at 651.50 rupees, among biggest drags on 15-member Nifty Auto .NIFTYAUTO index

'RISKY DETOUR'

** Jefferies ("underperform," PT: 600 rupees) says it is not convinced by TAMO's acquisition of IVG, calling it "a risky detour"

** Adds, European acquisitions have historically posed challenges for several Indian companies

** Emkay Global ("Buy," PT: 750 rupees) says it is concerned over a combined TAMO-IVG's exposure to low-growth region Europe

** Iveco "is not cheap" with a ~9x trailing consol P/E, valued closely to larger peer Daimler's ~11X P/E - Emkay

** Nomura ("Neutral," PT: 799 rupees) says it is concerned the deal increases risk perception tied to TAMO's stock at a time when investors are averse to volatility

** HDFC Securities ("Reduce," PT: 694 rupees) says deal comes at a tough time for TAMO, whose JLR and domestic business sales are stalling

($1 = 0.8753 euros)

(Reporting by Nandan Mandayam in Bengaluru)

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ROME, July 31 (Reuters) - India's Tata Motors TAMO.NS has committed to maintaining Iveco's "industrial footprint and employee communities" after agreeing to buy its trucks and bus business, the Italian truck maker's Chief Executive Olof Persson said on Thursday.

Iveco employs around 36,000 people, including 14,000 in Italy.

Persson said that given the complementarity of the two groups the integration process after the acquisition would be "smooth and successful".

He added that the deal with Tata, along with the sale of the IDV defence unit to Italy's Leonardo LDOF.MI, would "unlock superior growth opportunities and create significant value for all stakeholders".

(Reporting by Giulio Piovaccari, writing by Giulia Segreti, editing by Giselda Vagnoni)

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** Tata Motors TAMO.NS rises 1.3% to 696 rupees

** U.S. strikes deal with EU, imposing 15% import tariff on most EU goods - half the threatened rate

** Co' cash cow, British luxury unit JLR, makes its popular "Defender" model in Slovakia, a EU member-nation

** Earlier this year, JLR trimmed its FY26 margin forecast on uncertainty spurred by Trump tariffs

** Stock rated "hold" on avg; median PT is 750 rupees, per data compiled by LSEG

** YTD, TAMO falls 6%

(Reporting by Hritam Mukherjee in Bengaluru)

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MILAN, July 23 (Reuters) - The Italian government is closely following news about a possible sale of truckmaker Iveco Group IVG.MI to India's Tata Motors TAMO.NS, Industry Minister Adolfo Urso told a parliamentary hearing on Wednesday.

Urso did not, however, mention the possible use of the government's so-called golden power legislation, which allows it to set conditions on deals affecting companies deemed of national strategic interest.

Tata Motors has approached the Agnelli family, which controls Iveco through its investment company EXOR EXOR.AS, over a possible sale of the Italian truck and bus maker, Reuters reported last week.

Since last Friday, when Reuters published the news, Iveco shares have risen over 25%.

A possible Iveco sale would not include its IDV defence business, which the group is currently separating, either through a spin-off or a sale.

Urso said Rome was well aware of how important the commercial and industrial vehicle industry - and Iveco in particular - is for the Italian economy and employment.

"Our policy line is clear. We strongly support foreign investments of quality, as long as our technology, production and jobs are preserved," Urso said, adding the government had agreed to a request by unions for a meeting on Iveco "to monitor any developments and, if necessary, prepare appropriate actions".

(Reporting by Giulio Piovaccari
Editing by Mark Potter)

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Adds details and background throughout

July 15 (Reuters) - Indian automakers' car sales to dealers slid to an 18-month low in June, data from an industry body showed on Tuesday, amid weak demand in urban areas.

Urban Indians have tightened discretionary spending for a better part of this year, with wage hikes lagging the growth seen in previous years.

Car makers delivered 312,849 units to dealers last month, the Society of Indian Automobile Manufacturers said in a statement, down 7.4% from 337,757 units a year before.

For the June quarter, car sales to dealers slipped 1.4% to a two-year low. On a quarter-on-quarter basis, sales were down 13%, compared with a 9.6% drop in the same period last year.

Sales of cars to dealers usually decline between the March and June quarters as manufacturers generally prop up sales with discounts in the first three months of the year to clear excess inventory.

Car sales hit record highs for three consecutive financial years in the world's third-largest car market, before losing steam in 2024-25 amid a fall in disposable income.

Sales grew by a mere 2% in the financial year to March 2025 after rising 8.7% in fiscal 2024 and 27% in fiscal 2023.

Industry insiders expect overall car sales in India to grow just 1%-2% in the year to March 2026, citing flailing demand.

Last week, a dealers' body said challenges in securing rare-earth materials "have stalled component production, further constraining supply and retail volumes."

"Overall sentiments across categories have remained subdued so far, even as the industry continues to navigate supply-side challenges," SIAM President Shailesh Chandra said.

Automakers are counting on festive demand and lower loan rates to help sales recover.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Subhranshu Sahu)

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Refiles to correct media identifier

July 12 (Reuters) - Jaguar Land Rover North America is recalling 20,999 vehicles in the United States due to torn passenger airbags that may not adequately protect an occupant in a crash, increasing the risk of injury, the U.S. National Highway Traffic Safety Administration said on Saturday.

(Reporting by Anusha Shah in Bengaluru; Editing by Sharon Singleton)

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July 12 (Reuters) -

• JAGUAR LAND ROVER NORTH AMERICA, LLC IS RECALLING 20,999 U.S. VEHICLES - NHTSA

• JAGUAR LAND ROVER NORTH AMERICA, LLC IS RECALLING SOME U.S. VEHICLES AS A TORN AIR BAG MAY NOT ADEQUATELY PROTECT AN OCCUPANT IN A CRASH, INCREASING THE RISK OF INJURY. ADDITIONALLY, A TORN AIR BAG MAY ALLOW HOT GASES TO ESCAPE, WHICH CAN CAUSE A BURN INJURY.- NHTSA

Source: https://tinyurl.com/3hyaw6wh

Further company coverage: TAMO.NS

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July 8 (Reuters) - Tata Motors Ltd TAMO.NS:

• TATA MOTORS - TATA MOTORS GROUP GLOBAL WHOLESALES AT 2,99,664 IN Q1 FY26

• TATA MOTORS - WHOLESALES AT 299,664 IN Q1 FY26, DOWN 9%

Source text: ID:nnAZN44IXP0

Further company coverage: TAMO.NS

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July 7 (Reuters) - British luxury carmaker Jaguar Land Rover (JLR) reported a 10.7% drop in first-quarter sales, its Indian parent Tata Motors TAMO.NS said on Monday, following a temporary pause in shipments to the U.S.

JLR, known for its Range Rover sport utility vehicles (SUVs), sold 87,286 units to dealers worldwide in the April-June quarter, down from 97,755 units a year ago.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Arun Koyyur)

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June 30 (Reuters) - Three of India's top carmakers together reported lower domestic sales for June, data from the companies showed on Tuesday, as buyers in urban India kept away from new vehicle purchases.

Market leader Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS and Hyundai India HYUN.NS registered decline in sales of 13%, 15% and 12%, respectively.

The three automakers corner over 60% of India's car market, the third-largest in the world, where sales growth has lately stuttered after hitting record-highs for three successive years.

Maruti's sales for June dropped to their lowest since December 2023. The 'Swift' hatchback manufacturer took a hit in small cars – its largest segment – that have become costlier due to stricter safety and emission rules.

"The once mass small-car segment is not participating in the growth at all," said Rahul Bharti, Maruti's senior executive officer of corporate affairs.

Sales of the company's utility vehicles, mostly sport utility vehicles (SUVs), dropped 8.5% in June, to their lowest level since December 2023.

Meanwhile, Tata Motors' dispatches slid 15% to their lowest level since December 2021, while Hyundai logged a 12% decline in domestic sales.

Hyundai's Chief Operating Officer Tarun Garg said in a release that the company is "cautiously optimistic about a gradual recovery of demand."

Tata, too, said it is counting on its newly launched vehicles to support the carmaker in a year where "overall industry growth is expected to remain subdued."

Indeed, industry insiders have said they expect overall car sales to grow about 1%-2% in the year to March 2026, compared to last year's 2% growth.

Mahindra, an exception to the trend, said its SUV sales grew 18% in June to end the quarter with record-high dispatches to dealers. The blistering growth has powered Mahindra to the no. 2 spot in India's car market, a position held by Hyundai for the large part of two decades.

BY THE NUMBERS

(Reporting by Nandan Mandayam in Bengaluru; Editing by Shailesh Kuber)

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June 30 (Reuters) -

• NHTSA: OPENS PRELIMINARY EVALUATION INTO EST 91,856 JAGUAR LAND ROVER US VEHICLES OVER FRONT STEERING KNUCKLE FRACTURES

Source text: https://tinyurl.com/24uoun5r

Further company coverage: TAMO.NS

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Adds comments from executives in paragraphs 4, 7

By Aditi Shah

MUMBAI, June 24 (Reuters) - India's Tata Motors TAMO.NS, owner of luxury carmaker Jaguar Land Rover, said on Tuesday that rare-earth export curbs imposed by China have not caused it to press any "panic buttons" yet, and that its electric vehicle launches were on track.

China's curbs on rare-earth exports have disrupted the global auto industry, with companies warning of a severe supply crunch. Rare-earth magnets are used in everything from windshield-wiper motors to anti-lock braking sensors in vehicles.

"Currently, I think there's no panic because we believe the supplies are coming through. There's no production curtailment. Nothing is being planned at this point in time," CFO PB Balaji said at an event in Mumbai.

Tata Motors' electric vehicle launch plans are on track, but may be reviewed if there is significant deterioration of rare earth supplies, CFO Balaji said.

Alternate sources for magnets, including alternate technologies, are being looked into, he said.

Maruti Suzuki MRTI.NS, India's top carmaker, cut near-term production targets for its electric vehicle e-Vitara by two-thirds because of rare-earths shortages, Reuters reported earlier this month.

Shailesh Chandra, managing director of Tata Motors Passenger Vehicles and its EV subsidiary, said the company was looking at how to reduce the composition of rare earth magnets in its cars and how to completely eliminate them over the longer term.

China controls more than 90% of the global processing capacity for the magnets, which are used for automobiles, clean energy and home appliances. It enacted restrictions in April that require companies to obtain import permits from Beijing, as part of its retaliation against hefty U.S. tariffs.

Tata Motors CFO Balaji also said that Jaguar Land Rover will take price hikes "in a calibrated manner" to counter the impact of U.S. tariffs, but is not planning any manufacturing site in the U.S.

The Range Rover maker had lowered the forecast for its fiscal 2026 earnings before interest and taxes margin to 5%-7% last week from 10% earlier, amid uncertainty in the global auto industry.

(Reporting by Aditi Shah in Mumbai and Meenakshi Maidas and Manvi Pant in Bengaluru; Editing by Sonia Cheema, Rashmi Aich and Mrigank Dhaniwala)

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June 18 (Reuters) - Tata Motors Ltd TAMO.NS:

• LAUNCHED LPO 1622 BUS IN QATAR

Source text: [ID:]

Further company coverage: TAMO.NS

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** Tata Motors's TAMO.NS luxury carmaker unit, Jaguar Land Rover lowers its fiscal 2026 EBIT margins forecast to 5%-7% on Monday from 10% earlier

** At least 3 brokerages downgrade TP for TAMO

** TAMO shares trade 0.8% lower at 681.25 rupees on Tuesday

HEADWINDS PERSIST

** Jefferies ("Underperform", PT: 600 rupees) remains concerned about multiple headwinds across businesses like a weaker dollar, tough China macro, warranty costs etc.

** Morgan Stanley ("Equal-weight", PT: 715 rupees) says JLR stronger than in past downcycles, but earnings recovery will be gradual, with possible FY26 downgrades

** CLSA ("Outperform", PT: 805 rupees) cuts FY26 EPS 4%, led by EBIT margin cut for JLR on tough macroeconomic conditions

(Reporting by Meenakshi Maidas in Bengaluru)

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Adds details, background throughout

June 16 (Reuters) - British luxury carmaker Jaguar Land Rover lowered its fiscal 2026 earnings before interest and taxes margins forecast to 5%-7% on Monday from 10% earlier, amid uncertainty in the global auto industry as U.S. tariffs loom.

Shares in the company's Indian parent Tata Motors TAMO.NS slumped as much as 5.2% in early trade following the announcement.

The revised EBIT margin forecast is also below JLR's reported 8.5% margin for the previous fiscal year ended March 31.

JLR added it sees free cash flow of close to zero in fiscal 2026.

The company, which derives over quarter of its sales from the U.S., had temporarily paused shipments to the country after President Donald Trump slapped a 25% duty on all foreign-made vehicles sold in the world's second-largest car market.

The 'Defender' sport utility vehicle maker said it is re-allocating available units to "accessible markets", to boost profits.

It added that it continues to engage with both the U.S. and UK governments regarding a trade deal signed in May, which allows the UK to export 100,000 cars a year to the U.S. at a 10% tariff, below the 25% levy for other nations.

While JLR's "Range Rover" SUV lineup is manufactured in the UK, the popular "Defender" is made in Slovakia, a member of the European Union, which does not yet have a trade pact with the Trump administration.

The carmaker said it is assessing pricing actions in the U.S. to help offset the tariff impact.

Analysts have said JLR may be less affected by the increased costs associated with the tariffs, thanks to a wealthier customer base that is unlikely to be deterred by a bigger price tag.

However, Tata Motors remains among the most exposed Indian automakers to the U.S. duties, as JLR lacks local manufacturing in the country, unlike most of its rivals, including German brands Mercedes-Benz and BMW BMWG.DE.

(Reporting by Kashish Tandon and Nandan Mandayam in Bengaluru; Editing by Nivedita Bhattacharjee and Rashmi Aich)

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** Tata Motors TAMO.NS said on Monday it will invest $4.1 billion over the next five years to nearly double its Indian portfolio of cars to 15 as it looks to gain market share and boost margins

** TAMO plans to spend about 2%-4% of revenues at its commercial vehicles business to reach a market share of 40% by March 2027 from 36% in March 2025

** TAMO shares trade 1.6% higher at 729.1 rupees on Tuesday

EXECUTION IS KEY

** Jefferies ("Underperform," PT: 630 rupees) says sluggish demand and other headwinds stand in the way of TAMO's ambitious goals

** Nomura ("Neutral," PT: 799 rupees) notes execution of market share gains in the small commercial vehicle segment will be key for achieving TAMO's CV business goals, while it remains watchful of the domestic car business's plans amid intense competition

** Motilal Oswal ("Neutral," PT: 690 rupees) says TAMO's targets for the domestic businesses, while "ambitious," would be "challenging" to execute amid waning demand and rising costs

(Reporting by Nandan Mandayam in Bengaluru)

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June 9 (Reuters) - India's Tata Motors TAMO.NS plans to invest up to 350 billion rupees ($4.1 billion) over the next five years, aiming to cement its position as the country's top electric vehicle maker amid rising competition and a push to adopt clean cars.

The maker of the Nexon and Punch sport utility vehicles will nearly double its portfolio from eight models to 15, launch more EVs and compressed natural gas cars as well as enhance the vehicles' technology features, according to its investor day presentation released on Monday.

India, the world's third-largest car market, is planning stricter emission norms starting 2027 and wants EVs to form 30% of all car sales by 2030.

Tata Motors did not share its investment plan for the current year to March 2026, but said last month the domestic businesses, including commercial vehicles, would have a capital expenditure of about 80 billion rupees.

Intense competition in the combustion engine market has allowed rival Mahindra & Mahindra MAHM.NS to overtake Tata. China's MG Motor 600104.SS has also challenged Tata's EV dominance with the "Windsor" model, outselling its products since late last year.

Yet, Tata Motors maintained its target of 16% market share by March 2027, aiming to reach 18%-20% by March 2030.

($1 = 85.6310 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Shilpi Majumdar)

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June 6 (Reuters) - India's Federation of Automobile Dealers Associations (FADA) said on Friday that supply chain headwinds like constraints on Chinese exports of rare earth metals, will keep consumer sentiment in check.

(Reporting by Ananta Agarwal in Bengaluru;Editing by Nivedita Bhattacharjee)

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June 2 (Reuters) -

• INDIAN GOVERNMENT FINALISES NEW ELECTRIC VEHICLE POLICY - STATEMENT

• INDIA GOVERNMENT: INVESTMENT TOWARDS BUILDING, MACHINERY, RESEARCH, CHARGING NETWORK WILL BE CONSIDERED TO A LIMITED EXTENT

• INDIA GOVERNMENT: UNDER NEW SCHEME COMPANIES ALLOWED TO IMPORT EVS PRICED AT $35,000 AT REDUCED TARIFF OF 15% FOR 5 YEARS

• INDIA GOVERNMENT: IMPORT OF EVS AT LOWER DUTY PERMITTED ONLY IF COMPANIES INVEST $486 MILLION IN MANUFACTURING ELECTRIC CARS IN INDIA

• INDIA GOVERNMENT: UNDER NEW SCHEME COMPANIES WILL BE ALLOWED TO IMPORT A MAXIMUM OF 8,000 EVS EACH YEAR

• INDIA GOVERNMENT: COMPANIES MUST BEGIN EV PRODUCTION IN 3 YEARS AFTER GETTING APPROVAL

• INDIA GOVERNMENT: COMPANIES NEED TO ACHIEVE 25% LOCAL CONTENT IN CARS IN 3 YEARS, 50% IN 5 YEARS IN MAKING EVS

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, May 29 (Reuters Breakingviews) - India’s largest-ever private credit deal is a prime example of investors having capital burning a hole in their pockets. Struggling conglomerate Shapoorji Pallonji Group has just sold a 298 billion rupees ($3.5 billion) bond to a group including BlackRock BLK.N, Ares ARES.N and Pimco. Lending to financially challenged companies is where the fast-growing industry cut its teeth. But with around a quarter of assets in private credit providers’ portfolios sitting idle, per BNP Paribas, the hoops all sides are jumping through to get this deal done smacks of desperation.

For starters, it’s a zero-coupon bond, meaning the issuer pays no interest. That’s useful for SP Group. Granted, operating profit at the group's flagship company covers twice its interest bill for the six months to the end of September. That’s a big improvement from four years ago, per rating agency ICRA. But last year, the state-backed Power Finance Corporation declined its borrowing request, and rates on another unit's bonds rose after it missed deadlines for asset sales.

The bondholders make their money – a 19.75% yield – by buying the debt at a discount to face value and holding it until it matures in three years’ time. They don’t seem overly confident the borrower will stay out of trouble, as the terms include not one, not two, but three different layers of protection.

First, SP Group must pay back part of the debt if it sells certain assets. Second, its real estate business is providing a 100% guarantee on the paper. Even that’s not enough. As a third level of defence for its creditors, the issuer has agreed to stump up as collateral 9% of Tata Sons, around half its holdings in the company which owns large stakes in Tata Consultancy Services TCS.NS, Tata Motors TAMO.NS and more.

That pledged chunk could be worth between $8 billion and almost $19 billion, based on research by analysts at wealth manager Spark last year that factors in how much of a discount is applied to the unlisted company’s various public investments.

Trouble is, it’s not certain that Pimco and partners, which also include Farallon Capital Management and Deutsche Bank DBKGn.DE, would be able to get their hands on SP Group’s portion: Tata Trusts, which is Tata Sons’ controlling shareholder, insists the stock is not "freely transferable". Despite their evident trepidation at SP Group's ability to repay them, the bondholders will be hoping they won’t need to put that to the test.

Follow Shritama Bose on LinkedIn and X.

CONTEXT NEWS

Indian conglomerate Shapoorji Pallonji Group has issued an unrated and unlisted 298 billion rupees ($3.5 billion) three-year zero-coupon bond to companies including BlackRock, Pimco, Davidson Kempner Capital Management, Farallon Capital Management, Ares Management and Deutsche Bank, which also arranged the deal.

The deal offers a yield of 19.75% by being priced at a discount to face value. It is the largest private credit transaction in India, IFR reported on May 16, citing market sources.

(Editing by Antony Currie; Production by Ujjaini Dutta)

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By Aditi Shah

NEW DELHI, May 28 (Reuters) - Indian auto production could grind to a halt within days due to Chinese export restrictions on rare earth magnets, according to company executives and documents from industry groups, which want the government to lobby Beijing to relax the curbs.

China, which controls over 90% of global processing capacity for the magnets used for automobiles, clean energy and home appliances, enacted restrictions in April requiring companies to obtain import permits from Beijing.

Though a response to U.S. President Donald Trump's tariffs, the export curbs will impact automakers globally. And Indian companies say a disruption in the world's third-largest car market is imminent due to rapidly depleting stocks and the onerous process of obtaining new supplies.

In a meeting with commerce ministry officials last week, the Society of Indian Automobile Manufacturers (SIAM), an industry group, said inventories at auto part makers are expected to run out by the end of May, according to an unreleased document seen by Reuters.

SIAM was seeking the intervention of Prime Minister Narendra Modi's government to help access magnets held at Chinese ports since April 4.

"Starting end May or early June, auto industry production is expected to come to a grinding halt," SIAM said in the document, which was presented during a May 19 meeting attended by executives from Maruti Suzuki, Mahindra & Mahindra and Tata Motors.

While China has cleared exports from some magnet producers, including Volkswagen VOWG.DE suppliers, three auto industry executives told Reuters they fear strained relations between Beijing and New Delhi could hurt India's chances of getting quick approvals.

The company officials asked not to be identified due to the sensitivity of the issue.

When asked about the magnet restrictions' impact in India, China's embassy in New Delhi said it was "actively facilitating and streamlining compliant trade" in accordance with legal and regulatory requirements.

"China's lawful imposition of export controls on these items aims to better safeguard national security and interests," it said in a statement.

Mahindra MAHM.NS, Maruti MRTI.NS, Tata TAMO.NS, SIAM and India's commerce and external affairs ministries did not respond to requests for comment. Neither did the Auto Component Manufacturers Association of India (ACMA), which also attended the meeting.

PERMIT HEADACHES

While rare earth magnets are a crucial component in electric vehicle motors, they are also required for parts like power windows and audio speakers used in traditional cars.

And though the measures imposed by Beijing are meant to focus on high-performance exports, shipments of low-end magnets are also being held up at ports due to confusion around implementing the restrictions.

China's exports of permanent magnets fell 51% year on year to 2,626 tons in April, the first month of data following the curbs, customs data shows.

India's auto sector imported 460 tons of rare earth magnets, mostly from China, in the fiscal year ended March 31 and expects to import 700 tons worth $30 million this year, according to industry estimates.

"Though the cost of imported rare earth magnets is miniscule in vehicles, risk is vehicles cannot be manufactured even if we are short of one component," SIAM and ACMA said in a separate document submitted to the Indian government.

Indian companies are worried by the complexity of an import process that requires approvals from Indian ministries and documents including so-called "end-use certificates" stating the magnets are not for military purposes, the SIAM document said.

Those documents must be verified by the Chinese embassy in New Delhi and sent to companies' Chinese suppliers whereafter Beijing issues a licence, it added.

India should endorse applications from importers "within hours", the SIAM document said, and push the Chinese embassy and commerce ministry to approve them "on an urgent basis".

(Reporting by Aditi Shah; Editing by Joe Bavier)

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Adds details on Honda's hybrid line-up in paragraph 7

By Daniel Leussink

TOKYO, May 20 (Reuters) - Honda Motor 7267.T said on Tuesday that it was scaling back its investment in electric vehicles given slowing demand and would be focusing on hybrids, now far more in favour, with a slew of revamped models.

Japan's second-biggest automaker after Toyota Motor 7203.T also dropped a target for EV sales to account for 30% of its sales by the 2030 financial year.

"It's really hard to read the market, but at the moment we see EVs accounting for about a fifth by then," CEO Toshihiro Mibe told a press conference.

Honda has slashed its planned investment in electrification and software by that year by 30% to 7 trillion yen ($48.4 billion).

It's one of a number of global car brands dialling back EV investment due to the shift in demand in favour of hybrids and as governments around the world ease timelines to meet emission rules and EV sales targets.

U.S. President Donald Trump has, for example, revoked a Biden administration executive order that sought to ensure all of new vehicles sold in the United States by 2030 were electric.

Honda plans to launch 13 next-generation hybrid models globally in the four years from 2027. At the moment it has sells more than a dozen hybrid models worldwide, though just three in the U.S. - the Civic, which comes in hatchback and sedan versions, the Accord and the CR-V.

It will also develop a hybrid system for large-size models that it plans to launch in the second half of the decade.

The automaker is aiming to sell 2.2 million to 2.3 million hybrid vehicles by 2030, a huge jump from 868,000 sold last year. That also compares with a total of 3.8 million vehicles sold overall last year.

Earlier this month, Honda announced it had put on hold for about two years a C$15 billion ($10.7 billion) plan to build an EV production base in Ontario, Canada, due to slowing demand for electric cars.

Honda said, however, that it still plans to have battery-powered and fuel-cell vehicles make up all of its new car sales by 2040.

Other automakers that have scaled back EV investment include struggling rival Nissan 7201.T, which this month abandoned a plan to build a $1.1 billion battery factory on Japan's southwestern island of Kyushu just months after it had announced the project.

Jaguar Land Rover has shelved plans to build electric vehicles at parent company Tata Motor's TAMO.NS upcoming $1 billion factory in southern India, sources have said.

($1 = 144.7 yen)

(Reporting by Daniel Leussink; Editing by Edwina Gibbs)

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Corrects syntax in headline

May 15 (Reuters) - Indian automakers posted a near 4% jump in sales to dealers in April, led by strong demand for sport utility vehicles (SUVs), data from an industry body showed on Thursday.

Domestic sales of all cars in the country to dealers rose to 348,847 units last month, compared to 335,629 in April last year, according to data from the Society of Indian Automobile Manufacturers (SIAM).

Mahindra & Mahindra MAHM.NS posted a 28% jump in sales in April, overtaking Hyundai India HYUN.NS to the No.2 spot by overall sales in the in the world's third-largest car market.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'Souza)

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** Shares of India's Tata Motors TAMO.NS are down 2% at 705 rupees

** Analysts expect Q4 consol net profit at 74.58 billion rupees, per data compiled by LSEG; co posted profit of 174.07 billion rupees in year-ago quarter, aided by 94.78 billion rupees tax credit

** Rev expected to rise 2.5% to 1.22 trillion rupees, aided by higher sales of sport utility vehicles at its luxury stable Jaguar Land Rover

** TAMO's 6% drop in domestic passenger vehicle sales to weigh on Q4 results

** Expect EBITDA margin at JLR to contract 130% Y/Y due to rising discounts and higher warranty costs - Motilal Oswal

** Adds, EBITDA margin for PV likely to remain stable

** TAMO down 4% so far in 2025 vs 1% drop in Nifty Auto index .NIFTYAUTO

(Reporitng by Nishit Navin)

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** Indian automaker Tata Motors Ltd TAMO.NS climbs 2.9%, while broader markets .NSEI down 0.7% .BO

** US-UK announce trade deal on Thurs that, among other things, allows UK to ship 100,000 cars to the US at 10% tariff

** Tata-owned, UK-based JLR had paused car exports to US in April (JLR gets 25+% sales from US; accounts for 2/3 of Tata rev)

** Morgan Stanley says trade deal is "a partial relief" for JLR

** CLSA sees hit to JLR's FY26 US dropping to sub-10%, from 30% earlier

** Investec says deal likely to limit JLR US sales decline to 9% from 22% previously estimated

** TAMO trims YTD losses to 5.2%

(Reporting by Nandan Mandayam in Bengaluru)

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** India's Tata Motors TAMO.NS jumps 4% to 672 rupees, top gainer on blue-chip Nifty 50 .NSEI, which is up 0.3%

** Carmaker on Tuesday said its shareholders have approved the plan to split the auto maker into two listed cos, separating its passenger and commercial vehicle arms

** Co last March had said that it would divide its CV arm from its PV business to unlock better growth prospects

** TAMO among 15 stocks on auto index .NIFTYAUTO rated "buy" - data compiled by LSEG

** Stock down ~12% YTD vs auto index's .NIFTYAUTO 0.4% rise

(Reporting by Yagnoseni Das in Bengaluru)

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** India's Tata Motors TAMO.NS climbs as much as 2.2%; last up 1.2%

** Carmaker's luxury arm Jaguar Land Rover has restarted shipments of vehicles to the United States after pausing them in the face of U.S. President Donald Trump's tariffs, London's Times newspaper reported on Sunday

** TAMO's stock sank 10% when JLR paused car shipments to US after Trump's 25% auto tariffs came into effect

** TAMO among 15 stocks on auto index .NIFTYAUTO rated "buy" - data compiled by LSEG

** Stock down ~11% YTD vs auto index's 0.7% decline

(Reporting by Kashish Tandon in Bengaluru)

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