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Indian automobile maker Tata Motors has grabbed a 14.9 per cent market share in hatchbacks even as it announced that it sold 5,00,000 Tiago of which 1,00,000 vehicles were sold within 15 months.
The Tiago EV that was introduced in FY2022-23 received more than 10,000 bookings on the first day. The company has sold 19, 548 Tiago EVs as of June 2023.
“Tiago has been a turnaround story for Tata Motors in a way the new design philosophy kicked off in 2020 with new forever. We started making more changes to the product and continuous upgradation of the vehicle that resulted in the 5,00,000 mark,” said Vinay Pant, Head-Marketing of Tata Motors Passenger Vehicles Limited to businessline.
Hopeful on hatchbacks
Talking about the overall dip in demand for entry-level cars in the Indian automobile industry, Pant mentioned that the demand for hatchbacks and sedans of Tata Motors is strong.
“The hatchback segment has been coming down, but we’ve been growing on the back of a multi-powertrain strategy. There are a set of people who want an entry-level hatchback and that’s where Tiago fits in. For Tata Motors, we feel that we should grow even if the overall hatchback segment may not grow that much,” added Pant.
Tata Motors, in its annual report stated that the company sold 5,40,965 passenger vehicles in 2022-23 and it ramped up production by 45 per cent year-on-year at its manufacturing plant in Pune, Sanand (Gujarat) and its joint venture plant at Ranjangaon (Maharashtra).
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