Tata Motors has just updated its portfolio with three important updates to its existing vehicles, including the Nexon, Harrier, and Safari. The updates have definitely filled the gap between the aforesaid cars and their rivals, but Tata is now reportedly working on new cars targeting newer segments in the near future in order to enhance its market share.
The Tata Nexon, Harrier, and Safari have seen significant upgrades in terms of appearance and new features. However, the automaker feels that ‘upgrades and refreshes to the existing portfolio only give marginal improvements in terms of market share’, which are only temporary. They must introduce new nameplates in order to considerably increase their market share.
Curvv and Sierra
Tata Motors' Managing Director, Shailesh Chandra, has announced that the production versions of the Tata Curvv and Tata Sierra will be released on the market in 2024 and 2025, respectively. Both of these cars are likely to be available in both ICE and EV forms.
He also said that Tata initially thought of meeting the customer inclination towards more torquey diesel cars, but now the market nature is shifting towards petrol, and Tata Motors is working on bringing petrol versions of the Harrier and Safari very soon.
An all-new Car
Mr. Chandra acknowledged the creation of an entirely new product in a segment where Tata Motors does not already operate. He claims that it is a distinct market niche with stable and expanding demand in the future. With this comment, we definitely feel that Tata Motors is now absent from the MPV category. This segment currently includes MPVs such as the Maruti Ertiga, Maruti XL6, Kia Carens, Toyota Rumion, Mahindra Marazzo, and others, as well as the Toyota Innova Crysta, Toyota Innova HyCross, and Maruti Invicto at the top end.
Tata’s Capacity
Mr. Chandra said that this festive season would push Tata Motors to utilize its 100 percent production capacity as demands surge with the latest iterations of the cars generating quite a lot of interest from buyers. Tata Motors Pune and Sanand Plant are already under full load. A new plant, namely Sanand 2, is also going to be functional by the next year, which they acquired from Ford.
Tata Motors sees huge potential for itself in the growing EV market, not only in India but in foreign markets as well. They see an opportunity in introducing Evs in European markets, as they could introduce them at considerably lower prices than rivals.
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