Mumbai: Tata Motors expects volumes, led by light commercial vehicles (LCVs) and buses, to grow by 10- 15 per cent in fiscal 2018 aided by a favourable GST rate and the monsoons, which is forecast to be normal.
The company will also create a new segment in the bus market with an AMT (automatic manual transmission) version shortly, apart from launching an AMT version of its premium pick-up Xenon.
"We led the LCV growth by more than doubled the industry growth rate last financial year clipping at 22 per cent volume. We're confident of this trend continuing in fiscal 2018 as well, and overall I see Tata Motors driving the industry volumes by clocking 10-15 per cent growth," executive director, commercial vehicle business unit, Ravi Pisharody told PTI here today.
As against this, the industry lobby Siam has forecast a 4-6 per cent growth in fiscal 2018 for the commercial vehicles segment.
Tata Motors has overtaken the long-time industry leader Ashok Leyland to become the No 1 bus brand in fiscal 2017. In 2016-17, Tata Motors' bus volumes (medium and heavy segment) grew by 22 per cent to 18,198 units from 14,917 units a year ago. On the contrary, Ashok Leyland, saw its bus sales declining by 10 per cent to 17,725 units against 19,586 units.
For fiscal 2017, Tatas' cumulative sales stood at 5,42,561 units, up 6 per cent over 5,11,705 vehicles sold in 2015-16. During the year, the bus market (medium and heavy) grew by 8 per cent to 47,262 units. Tata and Leyland together dominate the market with a combined market share of about 76 per cent, with Tatas commanding around 40 per cent now. "We added almost 7 percentage points to our market share in the year", Pisharody said, adding "as our volumes clipped 26 per cent in the IMHCV (intermediate, medium & heavy commercial vehicle) bus category."