Could help increase Tata's low market share of 5.7 percent.
In an effort to increase their low market share of 5.7 percent, Tata Motors will launch four new products in the next 18 months, reports Economic Times. The company's targeting more than 4 lakh units per annum by the end of the decade, which could help increase their market share to 10 percent.
The four new products in the pipeline are Tata Kite (codename) hatchback and sub-4m sedan, Tata Hexa crossover, and the Tata Nexon sub-4m SUV. The first of the four products to arrive will be one of the Tata Kites, which will be unveiled in December 2015.
It will be a tough task for Tata Motors to double its sales figures, given that manufacturers like Maruti, Renault, Hyundai are lining up several new products for launch. For instance, Maruti is looking to enter the highly competitive sub-4m SUV segment with the production-spec XA Alpha, while Hyundai is entering the MPV segment in 2016. Moreover Honda with the BR-V, and Renault with the emerging-market Captur, will enter the seven-seat SUV segment, launching a direct assault on the Safari Storme.
The Aria-based Tata Hexa that was revealed as a concept at the Geneva Motor Show, will serve as Tata's flagship product from 2016. It will feature a host of new technologies (like a terrain selector and a six-speed AT), to compete against India's best selling premium SUV, the Mahindra XUV500.
[Source: ET Auto]