Tata Motors not to launch new models for two years
Kolkata: The country`s third largest automobile company Tata Motors on Wednesday said it would not launch new models at least for the next two years.
"We have already invested Rs 2,200 crore for making the
Indigo Manza and Indica Vista platforms. We will not launch
new models except for the variants of the existing ones for
the next two years," Tata Motors Car Product Group General
Manager Nitin Seth said.
"Let the investments made give some returns before making
new platforms which required huge money," Seth said at the
launch of Indigo Manza here.
Tata Motors would use the Tata-Fiat production facility
at Ranjangaon in Maharashtra for producing the Indigo Manza.
The facility would manufacture Linea and Punto from the Fiat
stable and Indigo Manza from the Tata Motors stable.
"Tata Motors will try to make better utilisation of the
Ranjangaon facility which has an annual production capacity of
1.25 lakh," he said.
With the launch of Manza, the company aims to garner a
market share of 40 percent in the C segment.
More from India
More from World
More from Sports
More from Entertaiment
- Here's what Islamic State captors told Indian teachers
- Pakistan releases 163 Indian fishermen as goodwill gesture
- Washington Mayor calls Michelle Obama 'gorilla face', says 'she is attractive only to monkey man Barack'
- Drishyam earns Rs 17 cr in 2 days, Bajrangi clocks Rs 283 cr
- 'Baahubali' becomes first non-Hindi film to cross Rs 500 crore