Mumbai: Tata Motors plans to drive in new models, expand sales network as it aims to maintain its double-digit market share in the highly competitive domestic market, as per a top company official.
The auto major, which sells models including Nexon, Harrier, and Safari, has clawed its way up to over 10 per cent market share in the passenger vehicle space in July this year after a span of nine years and now plans to hold on to it with a slew of measures.
In order to bring additional volumes and bring more customers to its fold, the company plans to add around 250 sales outlets by the end of the fiscal.
Already four months are over and we are at a market share of 10.3 per cent. Still, we have two big launches lined up, including the Hornbill, so that is still to come. Besides, we are continuously coming up with exciting interventions in the existing portfolio. So we are quite confident of maintaining this position, Tata Motors President Passenger Vehicles Business Shailesh Chandra said in an interaction.
When asked if the company expects to sustain the double-digit market share going ahead, he said: That would be our aspiration.
Chandra noted that from doing around 11,000 units per month last year the company has reached 30,000 units this year and this turnaround has been possible due to a series of actions across marketing, planning, and production.
Important part is that we have been able to service the demand which we have been able to generate with a slew of measures, he said while adding that the company has been able to manage the supply chain issues through strong teamwork.
Chandra said that the company has been able to build a comfortable inventory for the festive season as it would not like to lose the retail opportunity.
Demand has quite recovered from the Covid second wave. We have seen progressive recovery and we expect the upcoming festive season to be quite productive for the entire industry, he noted.
Chandra listed the third wave of Covid-19 and semiconductor shortage as some of the challenges which could derail the process.