The company will also create a new segment in the bus market with an AMT (automatic manual transmission) version shortly, apart from launching an AMT version of its premium pick-up Xenon.
In an interview to CNBC-TV18, Ravi Pisharody, ED-CV, Tata Motors spoke about the latest happenings in his company and sector.
In the month of December, M&M‘s tractor sales were up 9 percent YoY to 14,047 units, mainly due to a lower base in the comparable period last year. Interestingly, total automotive sales were down 4 percent to 36,363 units, much better than estimates. Passenger vehicle segment declined 8 percent and LCV sales grew 14 percent YoY.
Falling interest rates could prove to be a trigger too. After the initial shock of demonitisation, Tata Motors said that lenders are also coming back with their willingness to lend. However, along with lower interest rates, lower down payment would also help.
With raising target price to Rs 665 (from Rs 530), Citi said it felt a combination of improving model cycle plus weak British pound should benefit JLR's margins and improve free cash flow generation over medium term.
"Tata Motors plans to execute all these orders in 2016-17. The orders will definitely enable us to further strengthen our leadership position in the CV passenger space," Tata Motors Executive Director, Commercial Vehicle Business Unit, Ravi Pisharody said in a statement.
In an interview to CNBC-TV18, Ravi Pisharody, Executive Director - CVs of Tata Motors says that the company will move to de-risk its domestic business in future.
PT Tata Motors Distribusi Indonesia (TMDI), a unit of Tata Motors, has launched the Tata Ultra 1012 light truck and the Tata Xenon XT D-Cab 4x4 pick-up, at the 24th Gaikindo Indonesia International Auto Show (GIIAS) 2016.
Through this partnership, we will be even better positioned to involve the small and medium scale enterprises in defence equipment manufacturing and at the same time cater to the opportunities available right here in India, said Ravi Pisharody, Executive Director, Commercial Vehicles, Tata Motors Ltd.
The company expects to close the hybrid bus order from BMC "any day now", having already signed an agreement with the authorities.
Ravi Pisharody, ED-Commercial Vehicles, Tata Motors is disappointed there was no mention of electric vehicles in the Budget but disagreed on the argument that government is promoting hybrid vehicles at the cost of electric vehicles.
Speaking of infrastructure, the outlay in Budget 2016 is a big concern for companies making medium and heavy commercial vehicles, especially if they are to repeat the 30 percent volume growth clocked in 2015, or push 2016 sales to a five-year high above 240,000 units
The company showcased three variants from the Signa range, the 4923.S tractor, the A 3118.T multi-axle truck and the 2518.K tipper.
In an interview with CNBC-TV18‘s Farah Bookwala Vhora, Ravi Pisharody, ED-Commercial Vehicle at Tata Motors spoke about the launch of their new commercial vehicle.
At the meet, Vinod Dasari, President of SIAM, also relayed his thoughts on the recent ban on registration of 2000cc+ cars in New Delhi, pointing out that less than 20 percent of pollution actually comes from auto emission in the city and he wishes the myth that cars are polluting India is dispelled.
BusZone would be equipped with a dedicated bus display area, professional sales and service teams, customer lounge including wi-fi connectivity and other services.
Ravi Pisharody, executive director of Tata Motors' commercial vehicles business, says Magic is very popular in school bus application
Despite Prime Minister Narendra Modi launching a range of economic reforms, industrial growth in India remains weak hurting demand for large trucks and forcing companies like Tata Motors to look overseas for profit.
Tata Motors, India's largest automobile company with consolidated revenues of Rs 2,32,834 crore in 2013-14, has already launched the Prima range in various countries, including Kenya, Oman, the UAE and Qatar.
Last week, Tata Motor's rival Ashok Leyland announced the launch of its electric bus Versa by 2017.
Overdrive walk along Tata Motors' Jamshepur plant assembly line with Ravi Pisharody, Executive Director-Commercial Vehicles Division at Tata Motors and gain an insight into 60 years of Tata Motors undisputed leadership in the commercial vehicles segment.
Ravi Pisharody told CNBC-TV18 that in the last two months, although on a low base, the company saw growth in excess of 20 percent.
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.
A slew of new launches and an expected extension of the excise duty cut have been backing the story of a revival in the auto sector. Moreover, the upcoming festive season may further boost demand.
The new range, Prima LX, is around 20 percent cheaper than the Prima range of trucks, which were launched by Tata Motors in 2009.