Tata Motors used to make cars for the last few years, looking only at taxi operators. But in the past, the company has made a different name in the market due to its powerful products.
Despite zero sales due to the COVID lockdown in April 2020, Tata Motors sold a total of 222,011 units in FY 2021, a growth of 69% over the previous financial year. Tata Motors sold 131,197 units in FY2020. Due to this increase in sales, the vehicle manufacturer has reached the top 3 position in the ranking of Indian auto manufacturers. The growth in sales came at a time when the entire auto industry has faced sales decline, supply chain problems and other problems due to strict lockdown.
This was the first time in eight long years that the domestic automaker’s passenger vehicle business recorded its top ever sales. Furthermore, this is the first time Tata Motors is heading for double-digit market share in FY2022. There is no doubt that models of passenger vehicles, including models like the Tiago, Tigor, Nexon, Harrier, Safari, and even the Nexon EV, have greatly benefited the company and made it highly competitive in the Indian PV market.
In today’s tour, Tata is giving a tough competition to big companies whose market share is very high. For example, Maruti’s market share is close to 50 percent. Hyundai (2) is one of the top three automakers in the Indian PV market, excluding Maruti Suzuki (1) and Tata Motors (3). This was not so long ago, when Tata Motors was in a period of turmoil. Despite offering the company a small hatchback like Tata Nano which is a revolutionary product, its market share was decreasing and the company’s products were not able to meet the expectation. At the same time, questions were also raised on the company.
Nano, the company relied on Ingigo
Due to lack of quality, cost and products, the automaker was not able to make a name in the market. Because at that time the company relied only on entry level products like Indica, Indigo and CS. During that time, the car maker was more focused on the taxi and the business which was a taxi operator. In such a situation, where other companies were launching different car products, Tata was not able to change its gear.
Everything has changed in the last few years
In FY2015, Tata Motors was struggling to gain volume, and competing brands such as Mahindra & Mahindra and Honda were beating Tata in terms of sales. Its market share was only around 5%. The automaker’s business was not profitable in terms of both OEM and channel partners.
However, from there, the Homegron automobile brand has undergone a dramatic change in terms of brand image, brand value and sales volume over the last half decade, with the result that the best results were seen in the last financial year. Data shows that the carmaker gained 8.2% market share in FY2021. This was compared to the 4.6% market share registered in FY15. The automaker’s cumulative sales volume in the last financial year was almost 66,000 units more than the fourth-place car brand.
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