The company is banking on investments lined up for product development and other innovations.
India’s largest automobile company, Tata Motors, has set its eyes on being among the top three global commercial vehicle makers and reclaiming its number three spot in the country’s car and sports utility vehicle market.
Addressing shareholders while presenting the company’s 71st annual report, Chairman Cyrus Mistry said the current year would be crucial, entailing new launches.
“This will mark a milestone year of growth, great launches and transformation. We will look at bringing in significant launches, with a focus on cost efficiencies,” Mistry said.
Tata Motors’ share in the Indian passenger vehicle market shrank to 4.6 per cent in 2015-16 from 13 per cent in 2011-12, as Maruti Suzuki and Hyundai strengthened their shares through sustained launches.
Guenter Butschek, managing director and chief executive, said: “We are working towards growing not just the top line but the bottom line as well.
"We aim to be among the top three globally in commercial vehicles and locally in passenger vehicles.”
The company is banking on investments lined up for product development and other innovations.
The Kite 5 (codename), Nexon and Hexa are being readied for launch even as the recently launched Tiago gathers traction.
The company has promised to launch two new models every year till 2020.
“Our plan includes developing new platforms with advanced technologies and improving the performance of existing ones,” Butschek added.
“There is a deep focus on robust processes, cost efficiencies and people management. These initiatives will help us build a leaner, more agile organisation,” he said.
The new National Automotive Innovation Centre, coming at the University of Warwick in the UK, will be the largest automotive research centre of its kind in Europe.
It is funded by Jaguar Land Rover, Tata Motors, the University of Warwick and the UK government.
This complex is aimed deliver breakthrough technologies in areas of carbon reduction, smart and connected vehicles, and advanced propulsion systems.
Mistry said subsidiary Jaguar Land Rover had produced and sold more cars than any other time in its decades-old history.
Jaguar Land Rover reported sales growth of 13 per cent to 521,571 vehicles last year.
As per data supplied by the Society of Indian Automobile Manufacturers Tata Motors ranks fourth in the passenger vehicle ranking (behind Maruti, Hyundai and Mahindra respectively) by end of last month.
Its ranking has improved by one position as last year at the end of same month Tata Motors stood fifth.
"For the group, 2015-16 was a turnaround year, backed by strong Jaguar Land Rover growth, as well as the start of the turnaround for Tata Motors,” Mistry added.
Image: Cyrus Mistry. Photograph: Reuters
