Following its success in the commercial vehicles segment in the last fiscal year, Tata Motors has initiated a plan under which it hopes to regain its market share in the passenger vehicles (PV) segment.
Under the Turnaround 2.0 initiative, which the company has recently come up with to meet this end, it aims to build consumer confidence and acceptability of its portfolio from both its old as well as new set of buyers, which, it hopes, will help it gain more market share.
Apart from this objective, the Turnaround 2.0 initiative will result in making the company’s PV segment self-funded and profitable.
“With Turnaround 2.0 we focused on the domestic commercial vehicle and regained market share. We demonstrated that we could de-bottleneck the supply chain. Now, we are looking to implement the turnaround plan for passenger vehicle business” Guenter Butschek, MD and CEO, Tata Motors, said here on the sidelines of the inauguration of a showroom.
Part of this initiative has already been put in place, which has started showing signs of improvement for the company’s PV arm.