Not wanting to get carried away by the "great respect" expressed by Tata group Chairman Ratan Tata for his group, Mahindra & Mahindra Chairman Anand Mahindra today termed the praise as "a pat on the back from a big brother" that will inspire his firm to work harder.
A day after Tata admitted at being "saddened" and "shamed" as Tata Motors was overtaken by the homegrown rival, Mahindra said the comment was "extraordinarily humble and generous".
Also read: Mahindra beating us is a shame, says Ratan Tata
In his tweet, Mahindra said: "Mr Tata's comment is extraordinarily humble and generous".
He further added that the M&M group "takes it as a pat on the back from a big brother" and "it inspires us to work harder.."
Yesterday, while addressing shareholders at the annual general meeting of Tata Motors in Mumbai, Tata said: "I have a great respect for what Mahindra & Mahindra has been able to do. I also have a certain degree of sadness and shame that we have let that happen".
Calling for introspection, Tata said the company will do everything to win back leadership position in car segment.
"I think we have a great deal of introspection to do as to why M&M should be ahead of us and us catching up, on the horse-power we have lacked it, but we should have been there and not them.
"So I hope the spirit of this company will ensure that we undertake every step to get back to the prominent position and not let a competitor do
better than us, by being first in everything we do," Tata said.
While Tata Motors remain the market leader in the Indian commercial vehicles market, it's third position in passenger cars and utility vehicles
segment has been challenged by M&M and was even overtaken in the first quarter this fiscal.
However, as per the latest Society of Indian Automobile Manufacturers (SIAM) data, in April-July period this fiscal, Tata Motors is ahead in the
combined sales of cars and utility vehicles.
Tata Motors sold a total of 85,178 units (excluding JLR) during the period as compared to M&M's 83,575 units.
Tata had said Tata Motors would have to "single-mindedly" retain and protect its market position across all segments and hoped its "employees
will rise to the occasion in spirit to meet the needs of the changing times".
"Tata Motors will have to understand customers better and will have to pay attention to the product offerings as well as customer support...
Will have to sustain and retain the market share. Failure to do so will see us slipping," he warned.
