Tata Motors' commercial vehicles segment has registered a high growth rate in its market share and aims to sustain its dominance, a company official said on Wednesday.
"We hold a market share of 53 percent in commercial vehicles in India. Our cargo vehicles registered a growth of 37 percent while construction vehicles grew by eight percent year-on-year," said Rajesh Kaul, business head, intermediate medium and heavy trucks, at Excon 2015, India's largest construction equipment exhibition.
Like most other commercial vehicles manufacturers, Tata Motors is also hopeful of government policies to stimulate growth.
"Government policies are moving in a direction where consumption will be more. Certain change in policies will drive growth," said Kaul, also citing coal mine auctions.
On Wednesday, the company showcased eight construction and mining vehicles from its Construck range, out of which four - Tata Prima 3138.K box coal tipper, Tata Prima LX 2523.K, Tata Prima LX 3128.K scoop HRT and Tata SAK 1613 4x4 - will be launched in a couple of months.
The range encompasses tippers, transit mixers, truck mounted cranes and concrete boom pumps, all which find application in road construction, irrigation, coal and iron ore transport, port handling, concrete mixing and municipal applications.
A flagship company of the Tata Group, Tata Motors had consolidated revenues of Rs.2,62,796 crore in 2014-15.