Tata Motors Hopes to Regain Over 55% Market Share in M&HCV Segment
The country’s top commercial vehicles manufacturer hopes to regain its market share of more than 55 per cent in the medium and heavy commercial truck segment.
The company’s market share in the segment stayed in the range of 55-60 per cent till 2015-16. But it started losing share to competition in a couple of years.
But post-GST, the segment has maintained a growth of about 32 per cent at 1.22 lakh units during the July-November 2017 period.
During the growth period, Tata Motors’ medium and heavy truck volumes have grown by about 34 per cent to 64,649 units taking its market share to over 52 per cent from 51 per cent as of March 31, 2017. “We continue to be the market leader in the M&HCV segment with over 50 per cent market share. Also, our share in the tractor-trailer segment has grown to over 65 per cent,” Girish Wagh, Head Commercial Vehicles Business Unit, told BusinessLine.
With a strong demand from the road construction and mining sectors, Tata Motors has also done well in the tipper segment with about 50 per cent market share, he said. Wagh said the company is investing ₹1,500 crore in new product development, and tooling and towards sustenance in manufacturing plants across CV segments. Also, product portfolio is being revamped catering to the value, performance and premium truck buyers.
“With a well-defined turnaround strategy, we are confident of not only regaining market share but strengthening our leadership position,” said Wagh.
While it has rolled out new heavy trucks in 37/49 tonne and introduced India’s heavy-duty tipper range with Ultimaax suspension for maximising mobility, Tata Motors has a robust new product pipeline across categories. Icra Group Vice-President Subrata Ray said that apart from pent-up demand post GST, the growth has been driven by demand for tractor trailers because of swifter compliance with regulations and overloading norms in some select States. (www.chinatrucks.com)
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