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Tata Motors eyes overseas markets
Friday, 16 January 2004, 20:30 IST
NEW DELHI: Tata Motors Limited, one of India's leading car and commercial vehicles makers, Thursday unveiled two car models in the domestic market with a view to increase its share in the booming automobile industry.
The company, an arm of one of India's largest diversified conglomerates Tata Sons, also said it would embark on an aggressive drive to tap overseas markets with its range of cars and commercial vehicles over the next few years.
Tata Motors launched the Tata Indigo Marina estate car and a new version of the Tata Indica V2 hatchback on the first day of the six-day automobile expo here.
"While Indigo Marina would priced at under 
600,000, the new version of Indica V2 will be available at the current price," Ratan Tata, chairman of Tata Motors Limited, told a news conference.
Tata Motors currently sells the Indica V2 priced at between 300,000 and 400,000 and the Indigo sedan with a price tag between 400,000 and 550,000.
In 2003, the company sold 77,913 Indica cars, registering a growth of nearly five percent over the previous year. The Tata Indigo ended the year 2003 with the sale of 25,976 units.
Tata said while the new version of the Indica V2 would be commercially available immediately, the Indigo Marina would hit Indian roads within a couple of months.
The company said the Indica V2 hatchback had been given a "new look to appeal to the changing tastes of the Indian car buyer". The car's exterior wears a sporty look while the interiors have been refurbished.
"Indigo Marina is an indigenously developed new product with premium lifestyle appeal and has the potential to be yet another popular offering from Tata Motors," said a company statement.
Tata said the company planned to start marketing its cars in all major countries in Europe over the next few years.
Tata Motors has already bagged an order from Britain's MG Rover to export 100,000 units of the hatchback City Rover car over four years.
The City Rover, a modified version of the Indica car, is produced in both 1,400 cc petrol and diesel engines. Indica is billed as the subcontinent's first genuine indigenous car.
Tata Motors, a truck and bus maker that expanded into consumer automobiles in the late 1990s, is making the City Rover at its plant in Pune.
"We have shipped the first batch of Rover cars to Britain. We have sent 5,000 cars so far," said Tata, adding the company planned to increase its plant capacity of 150,000 units in fiscal 2004-05.
Tata said the recent acquisition of the truck-making arm of South Korea's failed Daewoo conglomerate would help his company in enhancing its overseas presence in the passenger as well as commercial vehicles segments.
The company expects to complete the acquisition process of Daewoo Commercial Vehicle Corporation by March.
Daewoo Commercial, spun off from bankrupt Daewoo Motor in November 2002, is the second-biggest maker of heavy vehicles in South Korea with a market share of 26 percent.
"It (the acquisition) provides us an opportunity to enter some of the advanced commercial vehicles market," said Tata, adding the company would widen its produce range over the next few years.
Source: IANS
600,000, the new version of Indica V2 will be available at the current price," Ratan Tata, chairman of Tata Motors Limited, told a news conference.
Tata Motors currently sells the Indica V2 priced at between 300,000 and 400,000 and the Indigo sedan with a price tag between 400,000 and 550,000.
In 2003, the company sold 77,913 Indica cars, registering a growth of nearly five percent over the previous year. The Tata Indigo ended the year 2003 with the sale of 25,976 units.
Tata said while the new version of the Indica V2 would be commercially available immediately, the Indigo Marina would hit Indian roads within a couple of months.
The company said the Indica V2 hatchback had been given a "new look to appeal to the changing tastes of the Indian car buyer". The car's exterior wears a sporty look while the interiors have been refurbished.
"Indigo Marina is an indigenously developed new product with premium lifestyle appeal and has the potential to be yet another popular offering from Tata Motors," said a company statement.
Tata said the company planned to start marketing its cars in all major countries in Europe over the next few years.
Tata Motors has already bagged an order from Britain's MG Rover to export 100,000 units of the hatchback City Rover car over four years.
The City Rover, a modified version of the Indica car, is produced in both 1,400 cc petrol and diesel engines. Indica is billed as the subcontinent's first genuine indigenous car.
Tata Motors, a truck and bus maker that expanded into consumer automobiles in the late 1990s, is making the City Rover at its plant in Pune.
"We have shipped the first batch of Rover cars to Britain. We have sent 5,000 cars so far," said Tata, adding the company planned to increase its plant capacity of 150,000 units in fiscal 2004-05.
Tata said the recent acquisition of the truck-making arm of South Korea's failed Daewoo conglomerate would help his company in enhancing its overseas presence in the passenger as well as commercial vehicles segments.
The company expects to complete the acquisition process of Daewoo Commercial Vehicle Corporation by March.
Daewoo Commercial, spun off from bankrupt Daewoo Motor in November 2002, is the second-biggest maker of heavy vehicles in South Korea with a market share of 26 percent.
"It (the acquisition) provides us an opportunity to enter some of the advanced commercial vehicles market," said Tata, adding the company would widen its produce range over the next few years.
Source: IANS