Tata Motors is launching a big push to double the export of its commercial vehicles, due to uncertainties in Indian market Tata has taken this step. Tata Motors exported 50,000 units in this year end in March 2016.
Tata Motors have exported 54,029 commercial vehicles in 2015-16, compared to that of 46,413 of 2014-15. Conventionally Indian CV makers concentrate on markets such as, Sri Lanka and Bangladesh. But in recent times due to fluctuations in Indian market, Tata is considering Middle East, Africa and Latin America as their next possible market.
Tata's lead market Brazil has affected because of currency fluctuations, now Tata is looking for alternative markets such as, Chile and Venezuela, it also added Bolivia to its list of markets recently. Eastern Europe is also one among major market for Tata Motors.
In the coming two years Tata Motors aims at having local presence in seven to eight markets, including existing Thailand and Bangladesh. Entering African markets also poses a risk of suffering losses due to unstable currency exchange rates.
The sales of commercial vehicles have been dropping from the past three months in the country, states a report from Society of Indian Automobile Manufacturers. The sales are expected to go high during this festive season and after the implementation of goods and service tax.