Mumbai, Aug 3 (IANS) Multinational Tata Motors is planning to introduce new fuel efficient cars and hybrid vehicles in emerging markets and looking at ways to raise sales of luxury brands Jaguar and Land Rover in China and India.
In India, the company plans to launch a new cross-over vehicle, two new passenger vehicles and a new range of heavy trucks, Tata Motors Chairman Ratan Tata said.
‘The current range of vehicles has seen resurgence in demand, and the challenge before the company today is to deliver enough vehicles to meet market demand,’ said Tata in the firm’s annual report.
He said China has emerged as the third-largest global market for Land Rover/Range Rover and ‘studies are underway to consider options to increase market penetration in China, India and other developing markets.’
Tata said the company is also considering widening the range of Jaguar cars by introducing a station wagon, a new entry-level Jaguar, and a new roadster.
China’s demand for cars has fuelled a rise in bottom lines of many a car maker, as sales grew almost 48 percent in 2009 to 8.4 million vehicles. In India, total passenger car sales increased 24.5 percent to 1.9 million units in the fiscal year ending March.
The company also plans to revamp its entire Range Rover portfolio and promises ‘the new Range Rover ‘EVOQUE’ will have be a bold design evolution in sports utility vehicles (SUVs).’
Tata Motors, whose products include the world’s cheapest car, Nano, had bought the Britain-based Jaguar and Land Rover brands from Ford in 2008.
Tata Motors posted a 41 percent growth selling 67,799 vehicles in July 2010 as against 48,054 vehicles in the like period of 2009. This includes the company’s export products.
In the domestic market, it logged a 39 percent growth at 63,558 units which includes both passenger and commercial vehicles as against the 45,599 units sold in the same time last year.
The company, in the annual report, also announced that its holding firm Tata Sons’ director R.Gopalakrishnan, will be stepping down from the board.
Gopalakrishnan was a director in group companies like Tata Motors and Tata Power and also held the posts of chairman in Tata AutoComp Systems, and vice chairman in Tata Chemicals, among other important positions.