Tata Motors plans to speed up the time for introducing new products and also reorganize its dealer network for better customer experience. Recently, the company has launched the new Vista D90 hatchback which comes with a price tag of Rs. 5.99 lakh and Rs 6.83 lakh (ex-showroom Delhi) and said its capex for the next fiscal will be around Rs 3,000 crore. The new VistaD90 is equipped with 1.3 liter diesel engine and is all ready to compete with Maruti Suzuki Swift and Hyundai 120.
Ranjit Yadav, President (Passenger Vehicles Business Unit), Tata Motors said, "In the past, there has been a significant gap between the introductions of new products to the market. We have recognised that and we will bring that down drastically. We have a number of projects in the pipeline and we are giving emphasis on faster time-to-market for new products."
As per SIAM (Society of Indian Automobiles), Tata Motors occupy third position in the passenger vehicle segment in India as depicted in the April-December period this fiscal. The first and second positions are occupied by Maruti Suzuki India and Hyundai Motor India Limited. The company has sold 2,48,068 passenger vehicles in this period. MSI has sold maximum number of passenger vehicles (7,42,175 units) and HMIL has sold 2,81,449 units. Mahindra and Mahindra has been placed in the forth position selling 2,27,104 units.
Yadav added "The next couple of quarters look to be challenging for the overall industry. We are cautious but confident."
The company plans to shell out around Rs. 3,000 crore on different activities as the capex for the fiscal 2013-2014.