Tata Motors Ltd., which is seeing a turnaround in its passenger vehicle business, eyes double-digit market share on account of improving demand.
“This year (FY21) we will not be able to touch double-digit market share, but in January we were pretty close to 9%, and that should give a fair indication that with new launches we are not very far away from 10% market share,” Shailesh Chandra, passenger vehicle business head at Tata Motors, told BloombergQuint in an interview on the sidelines of the launch of its all-new Safari.
The demand, Chandra said, remains strong, and the automaker is not only seeing sustenance of volumes but also growth.
“There is no reduction in the booking rate that we have seen,” he said, adding the Safari is further set to strengthen its outlook. The automaker's monthly bookings have gone up from 18,000 in the second quarter to more than 27,000 per month in the ongoing three months ending March.
For the Safari, bookings have already exceeded expectations, Chandra said, but refused to share details on the total number of bookings received so far.
Yet, supply chain issues remain a concern, he said, adding Tata Motors is working to ramp up its supply chain to meet the demand.
“Semiconductor is a real problem for the auto industry globally. It's a very precarious situation and it isn't going away for the next five-six months because there is an underlying issue as far as floundering capacities are concerned in the semiconductor space.”
Watch the full interview here:
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