Tata Motors will focus on emerging segments like electric vehicles, share mobility and rural markets to drive growth in future
The passenger division of Tata Motors is finally back on track after years of struggle as the company finished last month on 3rd position in volume ahead of Mahindra and Honda, even though no new product was launched in the last six months. Now Tata Motors is going to focus on new segments to improve growth in the future.
Mayank Pareek, president of passenger vehicle division, Tata Motors said that they will focus on emerging segments like electric vehicles, share mobility and rural markets. The company will introduce specific products for each of these segments in the next 2-3 years. He also added that each of these divisions will have domain experts as executives.
Tata Motors will position both Zest and Bolt for fleet and shared mobility segments as these models will come with basic features and priced attractively. The company will soon introduce Tiago and Tigor EV models for personal buyers as currently, these models are available only for government officials.
These EV models will also cater to bulk-buying companies such as Ola and Uber as it will help them to reduce fuel cost considerably over regular models. Tata Motors has created JTP sub-brand for performance vehicles and they have already showcased both Tiago and Tigor JTP models at the 2018 Auto Expo.
The company will also introduce Nexon performance model under the JPT sub-brand and they are looking to expand dealerships to rural areas as in recent years, demand from small towns and cities have improved considerably and some of them are even outpacing the growth of metro cities.
The next big launch from Tata Motors will be Harrier, which is expected to be launched early next year and it will be priced aggressively to compete against established rivals. Then the company will introduce a 7 seat model of Harrier followed by a premium hatchback and Hornbill micro-SUV by the end of this decade.