Tata Motors passenger vehicle segment grew by 22% in last fiscal compared to 9% industry growth
Tata Motors is becoming more and more popular to the young generation buyers across the country thanks to the introduction of new models in the portfolio. In recent past, we have seen the homegrown auto major rolling out cars with fresh design language called IMPACT. Cars like Tiago, Tigor, Hexa and Nexon has garnered positive response.
The new crop of cars from the automaker comes with stylish new design, advanced upmarket features and new technologies along with new powerful and efficient powertrains. Unlike before, the new cars from Tata Motors don premium upmarket appearance that lures the young age buyers of the country. These models come with a global touch that makes the products attractive.
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Thanks to the introduction of the new crop of cars, Tata Motors has managed to post 22% hike in its passenger vehicle segment in the last financial year, compared to the overall industry growth of 9%. As the automaker claims, unlike before, when Tata was mainly known for commercial vehicles and its passenger cars were popular among the fleet operators, now the buyers are showing interest to purchase the cars for their personal use.
Inspired by the recent success the passenger vehicle segment, Tata Motors is aiming to boost the business with significant investment hike. It is working on several new models, among which three are expected to be unveiled at the 2018 New Delhi Auto Expo. These three models include two premium SUVs codenamed as Q501 and Q502 respectively, along with a premium hatchback that is codenamed as X451.
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Tata is also planning to enhance its dealership network in order to boost the business. The company has increased the number of showrooms to 645 in last fiscal compared to the previous fiscal’s 589. The brand aims to increase the number up to 1,200 by the end of FY20.