The Tata Zest and the Bolt are the first new products from the automaker in a long time. The duo carry a massive responsibility of turning around Tata Motors' passenger vehicle business which declined by 35% in FY2014.
Mr. Ranjit Yadav, president, Passenger Vehicle Business Unit, Tata Motors, told CNBC TV-18 that the launch of the Tata Zest and the Bolt will mark a new phase in the company's passenger vehicle business. He also said that the company's board of directors have approved a plan to launch two new passenger vehicles every year.
Mr. Yadav added that the company's short term goal will be to add newer models to the portfolio while the long term objective is to increase the market share and turn profitable.
At just 7,911 units, the largest Indian automaker's passenger vehicle sales plunged by 33% in June 2014 compared to the same month last year. The sedan and hatchback lineup which includes the Nano, Indica, Indigo, Vista and the Manza posted a 38% decline at 5,933 units while the UV range comprising the Movus, Safari, Safari Storme, Aria and the Venture registered a 9% drop at 1,978 units.
Apart from the Zest and the Bolt that are expected to be launched in August and September respectively, Tata's upcoming new products include the Nano Twist F-Tronic (AMT), a new hatchback and compact sedan below the Bolt and Zest, and a compact crossover SUV which was previewed at the Auto Expo by the Nexon Concept.
Tata Bolt - Image Gallery