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Tata Motors truck biz puts profitability first
Mint Mumbai
|June 21, 2023
Tata Motors Ltd, India’s leading commercial vehicle manufacturer, is shifting focus towards profitability and strengthening its position in the larger pick-up truck segment, as it struggles to maintain the lead it enjoyed until a few months ago.
Despite being the dominant company in the segment, Tata Motors has faced stiff competition from Mahindra and Mahindra Ltd, which is running neck-and-neck with it in the light commercial vehicles (LCV) segment.
In fact, in April, M&M had surpassed Tata Motors, capturing 37.1% of the market share, while Tata Motors was a shade lower at 37%, according to VAHAN registration data compiled by the Federation of Automobile Dealers Associations of India, or FADA. Notably, in April 2022, Tata Motors’ share was at 38.9%, against M&M’s 36.1%.
In FY23, Tata Motors’ market share fell by 420 basis points in the segment, while M&M gained 370 basis points. Data also showed that Tata Motors saw a consistent year-on-year decline in market share during the second half of FY23.
This story is from the June 21, 2023 edition of Mint Mumbai.
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