New Delhi, Aug. 13 -- India's Tata Motors Passenger Vehicles said on Thursday that its investment spending will not change following the exit of parent Tata Sons' Chairman N. Chandrasekaran, as the carmaker reported an 80% slide in first-quarter earnings.

Tata Motors is the first company in the Tata group to comment on its future plans after Chandrasekaran, 63, said on Wednesday he will not seek reappointment as chairman of Tata Sons, citing the board's lack of backing after tensions with the charitable arm that controls the group.

His departure has raised investor worries over stability at the sprawling group.

"Tata Motors has a clear strategy and a strong management team focused on execution," MD and CEO Shailesh Chandra said in a po...