Tata Motors is shifting gears by planning to launch a slew of new vehicles in the coming future aiming to become the third largest passenger vehicle manufacturer in India by 2019-20.
Currently, in the fifth position, Tata Motors will launch a compact SUV, a premium hatchback, and an executive sedan to take on the rivals. Currently, the top two passenger car manufacturers are Maruti Suzuki and Hyundai.
The company wants to fill gaps in its current product portfolio which cover only 60 percent of the passenger vehicle segment. Tata Motors plans to have lesser number of platforms in the future to cut cost and complexities in its products.
Tata Motors President, Passenger Vehicles Business Unit, Mayank Pareek said that they have finalised their product plan for the next five years as they have covered only 60 percent of the market and the aim to hit 100 percent with a slew of launches.
When asked on which segment they would concentrate, he said they are yet to enter the premium hatchback, executive sedan, and the compact SUV and they are looking to fill the gap.
He went on the say that various products are already in the advanced development stage. In fact, they are already planning the production capacities of the new products.
The company has re-crafted its design philosophy and its teams from Pune, Coventry (UK) and Turin (Italy) have been collaborating on the impact design philosophy which will be international in nature.
One of the priority is to correct the mistake of timing of launches of new product and the company is looking to launch vehicles at the right time and not delay it.
The company is planning to improve its dealership functions and wants to breakaway from the baggage of the past.