India's leading commercial vehicle manufacturer Tata Motors is expecting the medium and heavy commercial vehicle segment (M AND HCV) to grow in the second half of current financial year.
Experts in the commercial vehicle industry believe that there will be a shift in the momentum next year. As the commercial vehicles will move from BS-III to BS-IV emission norms it is expected to boost the business as it is a big technological update.
Another strong reason for this growth is a lot of construction projects are being announced this year and will be commencing from next year.
Tata Motors are now focussing on the southern part of the country. Recently Tata inaugurated eight dealerships in this region, out of which five are located in Tamil Nadu.
Vice President, Sales and Marketing, Commercial Vehicle Business Unit, Tata Motors, R T Wasan said that the commercial vehicle segment is witnessing a revival and festive season will also help the cause.
Tata Motors stated that its sales figures have grown up to six percent after the launch of new dealerships. Also, the firm has seen a significant growth in market shares.
Currently, Tata Motors has a market share of 53.52 percent in commercial vehicle segment and it leads the way in the country. With the launch of new products, Tata aims to increase market share in 37-tonne and 49-tonne segments.