New Delhi, Mar 13 (UNI) Backed by new launches, country's second largest car maker, Tata Motors today said it expects growth of over 10.3 per cent in the utility vehicle sector in the next fiscal.
''Currently the utility vehicle segment is growing at over 10.3 per cent and we aim to grow above the industry average,'' said Tata Motors Head Utility Vehicle S G Saxena.
The company has a 20 per cent market share in the segment. Last year 2,18,000 units were sold and this year sales are expected to be in the region of 2,35,000-2,38,000 units.
Sales of Tata Motors in this segment has been flat this year this segment, despite launching the new Safari Dicor.
Mr Saxena said the lack of credit was slowing growth in the utility vehicle segment, but expects it to rise on new launches.
The company today launched the Tata Sumo Grade here priced at Rs 6.54- Rs 7.49 lakhs (ex-showroom Delhi).
The vehicle is powered by the 2.2 L direct injection common rail (Dicor) engine similar to the one in Safari.
The platform continues to be the same as that of the existing Sumo, which the company will not discontinue given it is priced at a lower range of around Rs 4 lakhs.
The new Sumo Grande will be available in the domestic market since the company predicts a strong demand for the product and may later take a call on exporting it.
The company now intends to launch its pick-up Xenon next fiscal.
The new Xenon XT (Cross Terrain) is a lifestyle pick-up with 4 x 4 off-road capabilities. Xenon XT has an electrical shift-on-the-fly mechanism for the 4x4 application with limited slip differential.
The vehicle has charcoal grey interiors and can comfortably seat 5. It offers a loading volume of 870 L.
It is powered by a 3.0 L direct injection common rail (DICOR) diesel engine with a maximum power of 115 PS (at 3000 rpm) and maximum torque of 300 Nm (at 1800 - 2000 rpm).
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