Tata Motors Ltd. is planning to produce and launch three new cars in March next year in India in order to update its lineup and also to regain market share, according to people familiar with this subject.
A sedan, a hatchback and a crossover will be unveiled in the spring of 2016, with a fourth model being considered for addition, a compact sport-utility that would however be revealed after the planned trio.
Minari Shah, spokeswoman for the Mumbai-based compan said that Tata Motors does no comment on its future car models. However, the carmaker that owns both Jaguar and Land Rover, has previously stated that it would unveil at least two new passenger cars every year up to 2020 as to get growth and regain its market share in India. Back in 2012, Tata Motors was the third biggest carmaker in India, but fell to the fifth position this year because drivers chose to go with newer car models from Maruti Suzuki Ltd. and Hyundai Motor Co.
According to the Society of Indian Automobile Manufacturers, compared to the 48% held by Maruti Suzuki in the market share field, Tata Motors only owns 5.7%, less than the 17% that Hyundai Motor has.
These three new models would be the latest addition to Tata Motors’ lineup. Last year, the Indian brand introduced the Zest compact sedan and the Bolt hatchback, which led to an increase in sales of 9.7% in only four months up to July, a big improvement compared to a massive 36% decline in 2014.
This year, Tata Motors went down 28% in Mumbai trading as demand in China for its Jaguar and Land Rover car models witnessed a big decline.