Tata Motors currently has a market share of 40.1 per cent in the SCV and pick-up segment. The company has already sold over 20 lakh units of Tata Ace till date.
On Monday, the company reported 49 per cent decline in March quarter 2019 results at Rs 1,108.66 crore.
Bharat Forge Chairman and Managing Director B N Kalyani said FY19 has been a record year for the company with strong growth in revenue and profit.
According to experts, the fuel option which is likely to benefit from a departure of diesel engines in the near future is the much cleaner compressed natural gas.
With diesel cars set to become costlier from the next year with the implementation of stricter BS-VI emission norms, major automakers are contemplating about the future of such vehicles.
India’s largest commercial vehicle (CV) maker Tata Motors registered 18 per cent drop in CV sales in April 2019.
Automobile manufacturers have scheduled a slew of new launches despite low sales in April and dismal outlook for the sector this fiscal.
While commercial vehicle (CV) sales hit a slow phase after a solid start in financial year 2018-19, Tata Motors has managed to register double digit sales growth during the year.
In the second half of 2020, the company plans to launch its first battery electric vehicle, the Jaguar I-PACE, it added.
The company said that the hike in prices is due to rising input costs and external economic conditions.
The company joins the likes of Toyota and Jaguar Land Rover which have also stated that they would hike prices of select models from April.
Regulators found 10 models were emitting more of the greenhouse gas than they had been certified to emit.
What disheartening is to see the only electric passenger vehicles sold in India - e20 and eVerito - are also likely to be discontinued.
In a regulatory filing, Tata Motors said there was zero production of Nano in February although it sold just one unit in the domestic market during the month.