Tata Motors, the country's largest automobile manufacturer, has announced to ramp up its process of introducing new models and augmenting its dealership network in the domestic passenger car market. The company has also declared that its Capital Expenditure (Capex) for the next financial year will be close to Rs. 3,000 crore. Evidently, Tata Motors has upped the ante toward claiming the second spot as best selling passenger car maker in the country.
Ranjit Yadav, President, Passenger Vehicles Business Unit, Tata Motors has acknowledged the company's plans of speeding up launches of its new models in the Indian auto market. Yadav also said that Tata Motors' long term goal is to become India's largest passenger car maker, while the short and medium term objective is to claim the second position. At present, Maruti Suzuki India Limited (MSIL) and Hyundai Motor India Limited (HMIL) are largest and second largest passenger car makers in terms of sales, in the country. Hence, Tata Motors' medium term objective is the number two spot of HMIL in the Indian auto market.
Commenting on the company's future plans of claiming second position in the domestic car market, Ranjit Yadav was quoted as saying, “We believe that's an achievable target... We have a number of projects in the pipeline and we are giving emphasis on faster time-to-market for new products.”
As per data collected by the apex industry body- Society of Indian Automobiles (SIAM), Tata Motors stands at the third spot in the domestic passenger vehicle market after Maruti Suzuki and Hyundai Motor India. The information was collected between April and December months of the ongoing 2012-13 financial year.
Reportedly, the total sales in the Indian auto market between April and December period of current 2012-13 fiscal have been registered at 19,59,444 units, of which delivered models of Maruti Suzuki stood at 7,42,175 units. Hyundai Motor India contributed sales of 2,81,449 units, whereas Tata Motors sold some 2,48,068 units. Further, Mahindra & Mahindra (M&M) Limited, the country's leading utility vehicle maker, commands the fourth spot with total sales of 2,27,104 units recorded during the same period.
Speaking on the company's expansion plans of its sales and dealership network in the country, Yadav said, “As far as customer experience is concerned, there is a lot of headroom for improvement and we are working on it. On being enquired about the Tata Motors' future sales prospects on Indian turf, Yadav added, “The next couple of quarters look to be challenging for the overall industry. We are cautious but confident.”
