Tata Motors’ decision to take ownership of Jaguar Land Rover in 2008 has paid off handsomely with a rejuvenated brand and some healthy financial returns.
The Indian carmaker itself, though, has been remarkably quiet during this period, its most significant launch being the Nano budget car for the local market which has not lived up to expectations.
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However, at this year’s Delhi show, Tata unveiled its first new models in four years – two small cars aimed at reversing a decline in the company’s passenger car sales.
Sales of Tata passenger vehicles in India fell 37% in the first nine months of the fiscal year, ending 31 March 2014, according to the Society of Indian Automobile Manufacturers, the steepest drop of any car company in the country.
The market itself is suffering due to rising interest rates and high fuel costs and although it is still growing, it is at the slowest pace in a decade.
The two newcomers are the Bolt hatchback and Zest entry level saloon, jumping into the small car market that accounts for the bulk of vehicle sales in India – the B segment accounts for around two thirds of the 3m market.
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By GlobalDataThe company said it believes the two small models will help restore market share Tata has lost to the country’s two biggest players, Maruti Suzuki and Hyundai.
Tata said it had a number of models now in the pipeline which will be introduced over the next six years.
