Tata Motors plans to launch two new passenger vehicles every year. The move is aimed at gaining a larger market share.
Currently, Tata Motors is languishing at the bottom rungs of the auto market. Years of fiddling around with lacklustre products have taken a heavy toll. Customer enthusiasm is at an all-time low, and Tata Motors seems to have lost the plot.
Nevertheless, a resurgence is in progress. To arrest the slide, Tata Motors has planned to make its product portfolio more enthusiastic. They will now launch a couple of new passenger vehicles every year. The new vehicle launches will kick off with the Tata Zest and the Tata Bolt. The Tata Zest is the new sedan from the stables of Tata. And the Bolt is its counterpart, albeit with a hacked rear end.
Through the addition of fresher and more interesting models to its portfolio, Tata Motors plans to gain a larger chunk of the market share pie. Eventually, this would mean larger volumes and thus greater revenues and profit margins. Currently, the Tata Motors lineup features the Nano, Indica, Indigo, Vista and the Manza under the sedan and hatchback listing. The remaining models of the Movus, Safari, Safari Storme, Aria and the Venture comprise the Utility Vehicle listing.
Both the above-mentioned fronts have witnessed declines in Year-on-Year figures. The sedan and hatchback lineup dropped by 38% to end up at a paltry 5,933 units. The UV lineup, on the other hand, faced a less-harder fall of 9% to 1,978 units. Overall, Tata Motors has seen a steep decline of 33% to 7,911 units.
Tata Motors is confident that the Zest and the Bolt sedans will mark the resurgent phase. These products will be launched in the months of August and September respectively. Other new products that will follow include the Nano Twist equipped with an AMT and the Nexon crossover. After these, we will get to see a new hatchback and a compact sedan positioned below the Bolt and the Zest, respectively.
Can Tata Motors taste success this time??