Tata Motors plans to launch two vehicles every year till 2020 as the company looks to ramp up its product portfolio in the competitive Indian car market.
The company, which today launched its compact sedan Zest in the NCR, priced between Rs. 4.64 lakh and Rs. 6.99 lakh (ex-showroom Delhi), is also working to upgrade its sales and service network.
"We launched 8 variants across five brands last year. We are looking to launch two new vehicles every year till 2020.
Zest is the first model launch this year and will be followed up by compact model Bolt soon," Tata Motors President, Passenger Vehicles, Ranjit Yadav told reporters here.
The company will also be launching two models next year, he added.
When asked about the segments company is planning to target with the new launches, Yadav said: "We showed our compact sports utility vehicle Nexon during the Auto Expo earlier this year. So the compact SUV segment is one of the areas which we are interested in." Commenting on the Zest launch in the NCR, Yadav said: "It will definitely appeal to the largest car market in the country with its innovative design, features and drive experience."
The company, which is manufacturing the model at its Pimpri and Ranjangaon plant in Pune, plans to start exporting the car to global markets from the next year, he added.
The National Capital Region (NCR), which sees monthly sales of more than 24,000 units, is an important market for the company.
"Out of the 24,000 units sold every month in the NCR, 20 per cent or 5,000 units are compact sedans and this is the segment in which we have just entered. It is the fastest growing segment," Tata Motors Passenger Car Business Unit, Head-Indica Product Group, Amit Sagar said.
The company has already sold 100 units of the model in NCR, Sagar said, he added.