Homegrown auto major Tata Motors is planning to launch at least 4-5 new cars this year as it looks to script a revival of its fortunes in the domestic market.
The company has come under intense pressure from utility vehicle specialist Mahindra and Mahindra for the No. 3 position in the domestic market and has suffered due to dated products and reliability issues. It is now looking at a turnaround and aiming for the second position in the market in the near future.
“Our stated position has been to become the No. 2 in the market in the foreseeable future,” said Ranjit Yadav, president, passenger car business unit, Tata Motors. “We will launch many products on new platforms to achieve that goal.”
In the nine months of the current fiscal year so far, Tata Motors registered near stagnant sales at 248,068 units while M&M grew by almost 30% to 227,104 units. Hyundai remains the second largest player with sales of 281,449 units, up 1% over last year.
Tata Motors on Monday launched a peppier version of the Indica priced at Rs. 5.99 lakh.