Tata's newly launched SUV Safari Storme, priced between Rs9.95 lakh to Rs13.66 lakh will compete with M&M's Scorpio and XUV 500 and Renault's Duster which was recently launched in the market
Gurgaon: Aspiring to wrest the number two slot in Indian passenger vehicle market, Tata Motors on Wednesday said it will launch six new products in the next one year, reports PTI.
Launching a new version of its sports utility vehicle (SUV) Safari Storme, priced between Rs9.95 lakh and Rs13.66 lakh, the Tata group company said that while its focus will be on the volumes segment, it will also continue to introduce new products in the fast growing SUV market.
"In the next one year there will be six new offerings from us. It will be a mix of brand new models and refreshes," Tata Motors Managing Director Karl Slym told reporters.
Spelling out the roadmap for the company, the newly appointed Managing Director said, "We see ourselves as a strong number two player and that is where my vision is for the short to medium term, and eventually become the number one in the long term."
Currently the number one position in the passenger vehicle market is occupied by Maruti Suzuki India, followed by Hyundai Motor. There is a see-saw battle between Tata Motors and Mahindra and Mahindra (M&M) for the third position.
Slym said Tata Motors needed some course correction in order to grow its sales.
"We need to go to the market where the customers are. We do have good products such as the Nano, Manza and Aria. But those are not selling well as much as we would like to because we are not there where the customers are."
Asked about the company's product portfolio strategy to challenge for the number one spot, Slym said, "We need to have more presence in the volume segment, where 70% of sales are from from small cars. Not only that we also need to be present in the SUV segment, where we have just introduced the Safari Storme to add to the existing Safari.
When asked about the company's globalisation plan for Nano, he said the next generation Nano is likely to be launched in the US and Europe three years from now and the company would consider exporting completely built units or assembly of completely knocked down units.
He further said that since the company already has distribution presence in Poland, Spain and Italy, it would make sense for the company to start with these markets as and when Tata Motors decides to launch the Nano in Europe. He however did not give a timeline for the launch.
Commenting on the new Safari Storme, Slym said the new product will further enhance the company's strength in the SUV segment.
The Safari Storme which is powered by a 2.2 litre diesel engine will compete with Mahindra and Mahindra's Scorpio and XUV 500 and Renault's Duster which was recently launched in the market.
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Rexton, M&M's first high-end SUV from the the SsangYong stable is priced at Rs17.67 ex-Mumbai for manual version while automatic version is priced at Rs19.67 lakh
Mumbai: Mahindra & Mahindra (M&M), the country's largest utility vehicle maker on Wednesday launched a premium sports utility vehicle (SUV) 'Rexton' from the SsangYong stable, priced at Rs17.67 lakh, reports PTI.
The first launch from its Korean arm is produced at the Chakan plant with some localisation, the company said.
In November 2010, M&M had signed a definitive agreement with SsangYong Motor Company to acquire 70% stake in the ailing South Korean automaker at $463 million (about Rs2,105 crore).
"A manual model of the sports utility vehicle (SUV) is priced at Rs17.67 lakh ex-Mumbai and the automatic version at Rs19.67 lakh," M&M president, automotive and farm equipment, Pawan Goenka said at the launch.
The car is the first high-end SUV from the Mumbai-based auto company. The company said it has invested over Rs63 crore at its Chakan plant for this model.