Tata Motors planning to launch 50 commercial vehicles this fiscal

"The focus of this entity is only to look into the future, see how customer requirements are changing, how global markets are and how things have changed there,"

Companies News: Tata Motors plans to launch around 50 commercial vehicles (CVs) this fiscal as it looks to further consolidate its position in the segment, a top company official said.

The auto major, which saved close to Rs 19 billion in 2017-18 by enforcing cost-saving measures across CV and passenger vehicle segments, aims to achieve similar kind of savings in the current fiscal as well.

The company has also lined up a capex in the range of Rs 15 billion for CV vertical for the current fiscal. The amount would go into R&D, capacity expansion and towards making products compliant with BS VI emission norms before government deadline of April,1, 2020.

"Last year we launched more than 50 new products including variants and facelifts. This year also we will continue at the same rate in terms of new product launches," Tata Motors President (commercial vehicles business) Girish Wagh told PTI in an interview.

In order to set up a long-term strategy to introduce new products in the country, the firm is in the process of putting up a very strong product planning vertical in the company, he added.

"The focus of this entity is only to look into the future, see how customer requirements are changing, how global markets are and how things have changed there," Wagh said.

The entity is tasked with the job of creating a five-year product plan, he added.

Tata Motors is the leading player in the CV space in the country. At the end of last fiscal, the company's market share in the segment in domestic market stood at 45.1 per cent, up from 44.4 per cent in 2016-17.

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