Homegrown automakers Mahindra and Tata Motors are gearing up for massive product onslaughts with new strategies. The aim is to get back to the front line by regaining the ground lost to MNC rivals.
Over the last four years, Tata Motors lost 5.5% of market share in the domestic passenger vehicle market. Despite a few successful products, Mahindra too had a forgettable innings with a market share loss of 16% in the UV segment in the last four years.
The two giants are planning to invest more than one billion dollars each to come up with a comprehensive pipeline of all-new products in the coming years. Tata Motors recently announced its new vision and mission publicly and is aiming to become one of the top 3 passenger car makers in the country by FY2019. It also aims to become one of the top 3 commercial vehicles maker globally in the next 3 years.
Mahindra, as a part of its Promise 2019 vision statement, aims to launch 18 new products under its automotive division in next three years. According to the internal sources, the automaker aims to seal the second spot in the Indian passenger car market by the end of FY2019.
Both Tata Motors and Mahindra have international R&D centres which would play a crucial role in matching the upcoming products with global standards.