After an embittered boardroom battle between Ratan Tata and the ousted chairman, Cyrus Mistry, Tata Motors has had no change in its plans or strategy for the company's commercial vehicle business. The company today launched a pick-up vehicle Tata Xenon Yodha, meaning warrior at a starting price of Rs 6.05 lakhs.
Speaking on the sidelines of the launch, R T Wasan, Vice President, Commercial, declined to take any question regarding ousted chief Cyrus Mistry. However, he said that the company had made no change in its plans or growth strategy after Mistry's exit. On being asked if these plans included following the Vision 2025 plan which was announced by Mistry at the annual CEO meet in 2014, Wasan declined to comment. “Our plans are not individual driven but board-approved strategies,” he said.
It may be recalled that during Mistry’s tenure, Tata Motor’s consolidated net profit was Rs 848 crore during the July-September quarter of fiscal 2017 against a net loss of Rs 1,740 crore during the same period in the previous fiscal, according to the Times of India. It also recorded a 7 percent jump in revenues to Rs 67,000 crore in the second quarter from Rs 62,647 crore a year earlier.
Tata Motors has only 20 percent of the segment share in the pick-up truck space which is dominated by Mahindra and Mahindra.
Xenon Yodha, which is endorsed by Bollywood star Akshay Kumar -- the company's brand ambassador for its commercial vehicles division -- is available in multiple variants of 4x2 and 4x4 and in single and double cab options, the company said in a statement.
Powered by a 3 litre diesel engine, the pick-up is available in multiple variants – 4x2 & 4x4 and in single and double cab options. It is also available in both BS III and BS IV compliant versions. The price of the vehicle in the single cab BS III version starts at Rs.6.05 lakh while the BSIV option price starts Rs 6.19 lakh.
Ravi Pisharody, Executive Director, Commercial Vehicles said, "Besides bolstering our presence in the growing pick-up space, the new Xenon Yodha will also enable us to partner existing mini-truck customers, aspiring the next phase of growth, to upgrade to a reliable stylish pick-up particularly in the post GST regime..."
This is expected "on the back of improved road infrastructure, which will see the hub and spoke model of distribution, become more and more prominent", he added.
He further said, "With this new range, we are confident of extending our lead in the light commercial vehicle category, complementing the success and popularity of the Tata Ace range of small commercial vehicles."
Wasan said the company expected to increase its market share in the LCV category ‘significantly’ with the launch of Xenon Yodha.
Demonetisation has led to subdued sales in the automobile sector. In the truck sector, especially, where cash is the predominant currency, the sector was severely affected in the days following PM Modi’s announcement on 8 November, said Wasan. However, the sector is limping back and has had better conversion by the end of December, which continues, he said.
Published Date: Jan 03, 2017 15:59 PM | Updated Date: Jan 03, 2017 16:14 PM