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Consolidating its position in the country's passenger vehicle (PV) market, Tata Motors is gearing up to launch its compact sports utility vehicle Nexon.
The automotive company, which had closed last financial year with a market share of about 5 per cent, in the country's market which witnessed total volume of 3 million units, is looking at being the third largest PV player.
Pratap Bose, Head Design, said: “A lot has gone into the company's Impact Design initiative which has resulted in the roll out of three major offerings from the Tata stable. These include compact car Tata Tiago, Hexa and now Tata Tigor, the Styleback.”
“We expect to continue to consolidate with the launch of a number of other models. First of the block will be the compact SUV Nexon. This will sustain the buzz and draw customers to our fold,” he said.
The company expects to pit this SUV in a category currently dominated by Ford Ecosport and Maruti Vitara Brezza and where Honda recently rolled out WR-V.
Following the roll out of three new models, with Hexa barely about three months ago, and Tigor a week ago, the company had closed last fiscal with sales of 1,53,151 units against 1,25,946 units, registering a growth of over 22 per cent.
“We are currently able to address about 60 per cent of the passenger car market with our vehicles. As we complete the range, we are looking at becoming the third largest in the country's passenger car market by 2019,” Bose said.
To achieve this, the new models and entry into new segments are expected to keep the excitement going, he said.
Referring to the response for Tiago hatchback, Bose said the company has received more than 73,000 bookings and over 50,000 units have been delivered. “We expect Tigor to create similar buzz in the market. The Hexa, which is in a different segment, has also been attracting new customers.”
Tigor is now available in a compact sedan segment which accounts for sales of about 60,000 units per month.
Offered in petrol and diesel options, Tigor seeks to woo young and discerning customers to its fold with an eye for a compact and yet innovative offering, he explained.
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