RUSSIA/INDIA Tata to focus on Russian market
As part of its global growth strategy, India's largest automaker Tata Motors is planning to enter the Russian market with diverse range of its products, according to Asia Pulse.
"Russia is a focus market in Tata Motors' global growth strategy. We have decided to enter Russia not just to sell our vehicles but also to be part of the Russian economy and grow with our customers by offering the best value proposition through products and services," head of Tata Motors' International Business P G Shankar told PTI.
Shankar said Tata Motors, which has already successfully launched assembly of LPT 613 light commercial vehicles (LCV) with their Russian partner AMUR, plans to enter the local market with a diverse range of small, medium and heavy trucks and buses.
Tata Motors hope to sell about 6,000 commercial vehicles per annum in Russia over the next three years, he said.
"We are also exploring opportunities for investments in product development, marketing and even manufacturing. We have a long term vision and Tata Motors are here to stay," Shankar said adding that they have already localised 55-60 percent of their LCV assembly in Russia.
Head of Tata Motors Passenger Car Unit's International Business Divyendu Kumar is also bullish about the opportunities offered by the potent Russian auto market.
"The situation in Russia is like it was in India in 1980-85 with immense scope for growth. Last year car sales Russia were about 1.5 million units, and are expected to grow to 1.8-1.9 million units this year and the growth tendency is to remain afloat on the buoyant oil prices, a major source of Russian revenues," Kumar said.