Ex-Maruti exec Pareek to drive Tata Motors passenger vehicles
Mayank Pareek will join the company from October 1 and will replace Ranjit Yadav, who will now head Tata Motors’ international business for passenger as well as commercial vehicles, the company said in a statement.business Updated: Oct 01, 2014 14:04 IST
Tata Motors on Monday announced appointment of Mayank Pareek as president of its passenger vehicle business unit.
Pareek will join the company from October 1 and will replace Ranjit Yadav, who will now head Tata Motors’ international business for passenger as well as commercial vehicles, the company said in a statement.
Pareek joins Tata Motors from Maruti Suzuki, where he was earlier the chief operating officer and headed the marketing sales functions. Hindustan Times was the first to report earlier this month that Pareek had put in his papers at the country’s largest passenger car maker and was likely to join Tata Motors.
“Pareek would be responsible for steering the passenger vehicle business. He will also be a member of the corporate steering committee. His extensive experience in the passenger car market will play a significant role in harnessing Tata Motors growth potential to help position the company as one of the leading passenger car manufacturers in India,” the company statement added.
His biggest task will be to revive Tata Motors’ fortunes in the domestic passenger car business. The company’s passenger vehicle sales so far this year (April-August) are down 21% at 44,724 units. Over the last three-four years, its sales and market share have plummeted. It has just launched the all new compact sedan Zest, which the company claims has had a good initial response. The all-new Bolt hatchback will be launched in the next few months.