Kochi, Sep 6 (UNI) With an effort to increase its market share in Kerala, Tata Motors today rolled out the new generation of the country's first and only indigenous car --Indica Vista--in the State.
Speaking to reporters here, Company Head-Car Product Group Nitin Seth said '' we expect to increase our present market share, which was between 12 to 16 per cent, in the next four to five months with the new car in the State.'' He said the 'Indica' launched in 1998 was selling around 12,000 units per month across the country and in a span of six months, the sale of the new car was expected to touch the same figure.
Close to 9.1 lakh 'Indica's' were produced since 1998 and the car achieved its highest sale of 1.45 lakh in 2006-07 and exited 2007-08 as the second largest selling model in the industry despite its product maturity, Mr Seth said.
The new car has three varients in petrol and four in diesel models and was priced between Rs 3.5 lakh and Rs 4.8 lakh.
Declining to comment more on the 'Nano' project and the Singur issue, Mr Seth said '' the project is very much on and would be completed within the schedule.'' When asked on the slowing down of the economy, Mr Seth said the economy's growth had come down by one to two per cent and it had an effect on the auto industry also.
'' The auto industry is very much concerned about the increasing interest rate for loans and spiralling fuel prices, and these two factors were adversely affecting the interests of the industry,'' he noted.
UNI MA PMM 1748