Homegrown auto major Tata Motors which is working on ways to revive the fortunes of the company, today said turnaround is a new normal for it and expressed hope that the capacity constraints are likely to be sorted out by the second quarter of FY19.
Speaking to reporters after the launch of its Ultra range of intermediate and light commercial vehicles (ILCVs), which are priced between Rs 10 lakh and Rs 25 lakh, Tata Motors managing director and chief executive Guenter Butschek also said that the CV segment is likely to see an increased investment allocation.
Tata Motors saw its market share in the commercial vehicle (CV) segment in the domestic market inch closer to 44 per cent in 2017-18 riding on its turnaround strategy, which aims at regaining lost ground to rivals.
"Turnaround is our new normal, it is our new way," Butschek said.
He said that across the product range, ILCV plays a crucial role in this range, adding that, "we will continue our journey in FY19; you can expect success create hunger for further success. We will ramp up our capacity and will enhance our sales (in) all our segments. We are bound to gain market share."
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