Tata Motors forecasts back-on-track growth in all segments of Commercial Vehicles, following recovery of medium and heavy CV segments over last nine months. Ravi Pisharody, Executive Director of Tata Motors, points out the resurrecting M&HCV sales pace and projects a turnaround in Light Commercial Vehicle (LCV) sector that has been sky-diving for the past three years.
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In Bus segment, Tata Motors expects significant growth, after Bus Body-building Code is enforced in April 2015. Currently customers are buying only the chassis and getting the body built to taste at their local maker’s. This saves them around 10 percent on their pockets. With the Bus Code announced, build quality, dimensions, safety and comfort features will be constrained to specifications and the cost difference will be diminished.
Since 2011, the CV industry has been facing a slump but Tata Motors has been holding dear to its market share even though sales fell. It sold 9 lakh units in 2010-11 while only 7 lakh units are expected to be registered in 2014-15 fiscal. But the company still has 55 percent share in the CV space in India; market share in Medium and Heavy CV combined is 60 percent. Pisharody expects return to peak sales level by 2016-17 financial year.
Tata Ace Zip, the entry-level commercial vehicle in the company’s portfolio, has sold more than 1,00,000 units thus far.
Recently, the company rolled off 100,000th unit of Tata Ace Zip LCV from their Dharwad plant. They also confirmed the launch of an electric variant and a more powerful 1.4l petrol variant of Ace Zip in the future. Further, in passenger carrier and light goods carrier segments, Tata is going to introduce petrol variants that will be cheaper to buy as well as to maintain. Running costs would also be controlled by keeping LPG conversion option open.
Apart from this, the company will also pump in Rs 1,200 – 1,300 crores next year, to built 12-15 new platforms. By 2018, Tata Motors aims to launch 100 new commercial vehicles in various markets across the globe.
Via – Economic Times