Tata Motors to launch two models every year till 2020

company has a market share of 4.5 percent in the hatchback category and plans to increase it with the launch of new models

Planning to increase its market share in cars, Indian automotive major Tata Motors Thursday said it will launch two car models each year until 2020.

"Till 2020, we have a strong product pipeline and plan to launch two brands (car models) every year. We are working on exiting products," Ashesh Dhar, the company's national sales head of passenger vehicles for south and east, said on the sidelines of the launch of its new car, Bolt.

The company said it has 3,000-4,000 bookings for Zest, produced from its Pune and Ranjangaon plants in Maharashtra, and its petrol and diesel variants were generating equal interest.

"We sell close to 4,000 cars in the hatchback segment and 6,500 cars in the sedan segment each month," he said.

After the launch of the new sedan, Dhar said its market share has shot up to 12% in the segment which previously was at 7%.

The company has a market share of 4.5% in the hatchback category and plans to increase it with the launch of new models coupled with new technology.

Also, the company is keen to establish its premiere budget car Nano as a dominant player.

Responding to questions on Nano sales, Dhar said: "We are still doing 2,000-2,500 Nanos a month. It is below expectations and there is some product interventions which is going to happen."