Tata Motors bets big on new generation cars, remains optimistic in FY18

IANS Feeds
Cannes, May 22 (PTI) Sonam Kapoor showed off her another iconic look from Cannes fashion diaries as the actress slayed the gala’s red carpet in a striking Elie Saab ensemble. This is 31-year-old actress’ seventh year at the French Riveria and she made sure that her outfit stood out from the rest. The diva appeared […]
Tata Motors bets big on new generation cars, remains optimistic in FY18

Kolkata, March 31 (IANS) Automobile major Tata Motors which achieved close to 20 per cent growth in its passenger car sales in the first 11 months of the current fiscal is “optimistic” about its sales growth in 2017-18, a top company official said on Friday.

“Nationally, we are growing close to 20 per cent in the current fiscal while the industry growth was about 7-8 per cent,” the company’s Passenger Vehicle Business Unit’s Head-Marketing Vivek Srivatsa said here.

“With the launch of next generation cars — Tiago, Hexa, and now Tigor, we are optimistic with the sales growth in the next fiscal,” he added.

The company launched Tiago in last April and the car has been delivering 5,000 units-a-month sales, he said.

“Tiago, which contributed largely to our growth, received 83,000 bookings in 12 months and we have delivered about 50,000 units. Waiting period is about 30-40 days depending on the variant and the colour,” Srivatsa said, adding that it increased the prices of the car twice after the introductory offer.

He said waiting period for newly launch next-generation car Hexa is about two and a half months and over 75 per cent booking is for top end variants.

The car-maker’s sales in West Bengal and Sikkim grew by 22 per cent this year, he said at the launch of Tigor here.

In terms of sales of company’s small car Nano, he said: “As long as, there is demand, we continue to make it and we are selling 1,000 cars a month.”

Tata Motors, which has around 4 per cent market share currently, is eyeing a third spot in the industry by the end of 2019. It plans to add 200 sales touch points in 2017-18.

Srivatsa said all the new generation cars are ready with BS-VI compliance, and the company has embraced it.

The company said the Supreme Court decision to ban sales of all BS-III vehicles from April 1, 2017, was an unexpected and unprecedented move that will have a material impact on the entire automotive industry, OEM’s and dealer network.

Tata Motors has been producing BS-IV compliant vehicles across its entire product range of passenger and commercial vehicles and is fully BS-IV ready with effect from April 1, 2017.

“Tata Motors is assessing the impact of the order on the BS-III inventory that are lying unsold on April 1, at both company and dealerships,” it added.

This is published unedited from the IANS feed.