Tata Motors to drive in new products to expand market presence

Tata Motors plans to bring in new products in order to have presence in around 95 per cent of Indian passenger vehicles market by 2020, besides working on offering "electric solution" on most of its portfolio going forward.

The company currently sells a range of vehicles from hatchback to SUVs playing in about 70 per cent of the market in India.

"Our resolve is that by 2020, we will cover 95 per cent of the market with various kinds of products," Tata Motors President, Passenger Vehicles Business Unit, Mayank Pareek told PTI on the sidelines of Geneva Motor Show.

With the addition of new products and enhanced play in the segment, the company would be able to ramp up its market share, which currently stands at around 7 per cent, he added.

Commenting on drive for electric vehicles (EVs) in India, Pareek said the company believed that there was a need to strongly back electric mobility.

"It is a very good solution for a country like us. We are energy starved and our cities are polluted," Pareek said.

Speaking about Tata Motors' plans for EVs, he said,"We are committed that most of the products we have should have an electric solution going forward. It will happen".

Currently, Tata Motors offers only Tigor with electric powertrain in passenger vehicles segment. It is also planning to come out with an electric version of its compact hatchback Tiago.

When asked about company's sales outlook for the next fiscal, Pareek said that the company would grow better than the industry.

"According to our estimate, industry (PV segment) will grow by 7-9 per cent and we will certainly grow better than the industry," he added.

The company has already done better in terms of sales in the current fiscal as compared with 2016-17, Pareek said.

On sales network expansion, Pareek said the company aims to almost double its sales outlets by 2020.

"Three years back we had around 400 outlets. Now, we have around 800. By 2020 we will go up to 1,500," he added.

Besides, physical outlets the company would also expand the new format for sale which is based on digital technology, Pareek said.

In order to bring in more customers to the company's fold, the company is in the process of revamping its dealer network currently, he added.