With an aim to treble its commercial vehicles exports by 2018-19, homegrown auto major Tata Motors is eyeing a major push in various markets, including Russia and the ASEAN regions.
The company, which currently exports products to markets, including Middle East and Africa, plans to bolster despatches to existing and new markets to achieve the target. "This fiscal we are going to export around 50,000 units. Going ahead, we have set a target to treble the number to 1.5 lakh units in the next 3-4 years, " Tata Motors Executive Director, Commercial Vehicles, Ravi Pisharody told PTI.
The company is ready for a greater push in export markets as it has relevant products for these regions, he added. "With the Prima range of trucks, we now have the product and we are ready for a bigger push as far as exports are concerned. We now have the capability to cater to developed markets in addition to the neighbouring countries where we have been strong," Pisharody said.
Besides, stabilisation of exchange rates has also made exports attractive, he added. Pisharody said the company has identified various areas like Eastern Europe, Russia and ASEAN as high potential markets. Besides, the company is also strengthening its African product portfolio.
"We launched Prima trucks in Indonesia last year and Philippines recently. We now plan to launch in Malaysia and Vietnam in the fourth quarter. We are also trying to boost product pipeline at out assembly plant in South Africa," he added.
In order to cater to the Russian market, the company has recently appointed a distributor and is gearing to launch the Prima range in the market. "We are testing the trucks with Euro V engines for Russian market. We will be ready to launch products in 2015," Pisharody said.
Tata Motors currently exports trucks, buses, pick-up truck Xenon XT and mini truck Ace to various markets abroad. The company also plans to start exporting its light commercial vehicle 'Ultra' next year. When asked about the domestic market, Pisharody said it has starting growing but it would require further push from the government in sectors like mining and infrastructure to sustain the momentum.
"Medium and Heavy commercial vehicles (M&HCV) are expected to grow by around 15 per cent in the current fiscal as compared to the last financial year," Pisharody said.
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