Tata Motors is regaining momentum in the passenger vehicle market by launching new products - Tiago Hatchback, Hexa SUV, Tigor Compact Sedan and Nexon Compact SUV, in the last 18 months. We plan on bringing newer products by 2020 in order to plant a flag in the Indian passenger vehicles market. With our mission of being among the top 3 in global commercial vehicle market, we aspire to become the largest car market in the country.
Aiming to cover 95 percent the market by 2020
Our main focus is to match the advancements of our products with the aspirations and expectations of our customers. As of today, although we sell a range of vehicles - from hatchbacks to SUVs, we cater to only 70 percent of the car market in India. By manufacturing vehicles that the consumer wants, we are hopeful to expand our presence and cover 95 percent of the market by the year 2020.
"The launch of new products is crucial for the automotive sector as the lifecycle of vehicles has now come down significantly to 6-8 years. Car buyers want latest and new offerings and are willing to spend money for quality products," says Mayank Pareek, President, Passenger Vehicles Business Unit. In the beginning of 2019, we will be launching two new platforms, one of which is the Advanced Modular Platform (AMP), which will be the base of the company's next generation of hatchbacks and sedans. And the other one is the Optimal Modular Efficient Global Advanced Architecture (OMEGA Arc), which was showcased with the debut of the Tata H5X SUV Concept. After being under development for more than 5 years, the 1st vehicle to come off the OMEGA Arc Platform can be expected to launch a few months from now.
Mr. Pareek also put forward his belief about strongly rooting for Electric Vehicles, as it is a good solution for a country like ours which is energy starved and polluted.
The need for investment:
"Our whole strategy is actually based on the basic assumption that this is all about profitable growth where we need lots of upfront investment. The new products to come will be based on either one or the other platform where we are going to create economies of scale via high end of commonality," said Guenter Butschek, CEO and MD of Tata Motors.
In the beginning of 2019, we will be launching two new platforms, one of which is the Advanced Modular Platform (AMP), which will be the base of the company's next generation of hatchbacks and sedans.