Altroz marks Tata Motor’s entry into the competitive Premium Hatchback segment: Mayank Pareek
Mayank Pareek, President - Passenger Vehicles, Tata Motors, talks about all new Altroz and sentiments related to the auto sector.
Mayank Pareek, President - Passenger Vehicles, Tata Motors, talks about all new Altroz and sentiments related to the auto sector during an interview with Swati Khandelwal, Zee Business. Edited Excerpts:
Tell us something about all new Altroz and what are your sales expectations from it?
Altroz is a very ambitious and important project for us as it marks Tata Motor's entry into the hatchback premium car segment, which is about 12% of the total market in India. Last year, around 3.36 cars were sold in India and 12% market share of hatchback premium cars translates to be around 4 lakh. Altroz is a big step for us to capture that market.
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Indian auto sector has been through a slowdown this year. Do you think that post-festive sales, sentiments are still low in the sector?
Fiscal 2019-20 should be taken exceptionally as a lot of uncertainties were present. For instance, there were uncertainties related to GST in the first half of the year and now the industry is preparing for a transition to BSVI. That's why this year's growth rate numbers will be treated as an exceptional one at our end. However, India has potential because car penetration is very low in the country, while drivers of the growth are still there. I think next year we would start seeing growth.
What are Tata Motors plans particularly to push the sales? What is your outlook on market share for the new products that are being lined-up? What will be the growth drivers in the next fiscal?
Uncertainty between BSIV and BSVI will go and that will become a growth driver. There will be an improvement in the liquidity situation and loan availability situation for the customer. Overall, after this pause year, the economy will start looking up and I think these are growth drivers. And, after this brief pause, the industry will start growing.