A minimum of 50 percent market share in commercial vehicles and 10 percent market share in passenger vehicles is now the high priority for Tata
Tata Motors has had an encouraging financial year last time and is trying to build on the momentum in both passenger and commercial vehicle markets. The homegrown brand’s chairman Natarajan Chandrasekaran has said that his company aims to claw back 50 percent of market share in CV division.
For passenger vehicle segment, however, he keeps the target at at least 10 percent.Tata’s passenger division, in particular, has endured a slew of new launches that helped emphasise its identity as well as changed the brand perception among customers.
With the company reportedly satisfied with the changes that have made big impact, a minimum of 50 percent market share in commercial vehicles and 10 percent market share in passenger vehicles is now the high priority.
In the last fiscal, Tata had 44 percent market share in CVs, attributed by the top position in LCV space. However, its medium and heavy duty truck sales saw a decline. The arrival of Impact philosophy based Tiago, Nexon and Hexa have done wonders for Tata’s sales volume.
It is gearing up to launch a premium hatchback and a premium SUV in the near future. If the conceptual studies they are based on are anything to go by, the brand could be in for a couple of more hits. Tata recorded the highest growth of top ten manufacturers in FY18 with 22 percent sales increase compared to the previous financial year.
Tata Motors’ Manging Director, Guenter Butschek, has stated that the company will aim for 50 percent CV market share as early as next year but he did not draw up on any number on PV segment’s potential target, amidst aiming to become third largest automaker by the end of this fiscal in terms of sales volume.