Thursday, April 15, 2021
News

Stepping on the Gas: Tata Motors to foray into CNG space (IANS Special)

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Wednesday, 2021 11:45:06 PM IST
Automobile major Tata Motors plans to foray into CNG fuelled passenger vehicle segment in FY22.

Accordingly, few of the company's models will be offered with a factory fitted CNG kit. At present, Tata Motors provides an option to get the CNG kits fitted in some of its PVs at dealerships.

The move assumes significance in the light of high transportation fuel prices, which have spiked recently. Also, the new option is expected to complement the company's portfolio of electric variants.

In a conversation with IANS, Shailesh Chandra, President, Passenger Vehicle Business Unit, Tata Motors, said that factory fitted CNG options of some models will be introduced in the current fiscal.

"Currently, we have a comprehensive PV portfolio with ICE and EV options for customers to choose from. Our customers also have the option to get the CNG kits fitted at the dealerships. In FY22, our customers will also get a factory fitted CNG option for some of our models," Chandra said.

On the current sales growth, Chandra cited new launches as well as continued financing support with attractive interest rates as the main factors for month-on-month rise in demand.

"Movement of people within the city and intercity has started. However, owing to limited public transport options and concerns over travel in available public transport options on account of the Covid-19 pandemic, reliance on private transport is expected to increase, giving boost to the demand for the vehicles. We are also seeing good traction from the rural sector owing to good Rabi harvest post the festive season," Chandra said.

Besides, he pointed out the improving indicators which show a slow but sure move towards a more sustainable demand trajectory.

The company's PV business posted its highest ever sales in nine years in March 2021 and Q4FY21.

In FY21, the business registered its highest ever annual sales in eight years, posting a growth of 69 per cent versus FY20.

The PV business' overall sales grew by 422 per cent during March 2021 to 29,654 units from 5,676 units sold in March 2020.

According to Chandra, the company is bullish about the demand in CY21.

"Sales momentum will continue on the back of strong economic fundamentals which are driving key macroeconomic indicators such as positive outlook of GDP growth, uptake in rural consumption, continued urban demand, attractive interest rates and expected recovery in SMEs," he said.

As for the second wave of COvid-19, he said last year's learning has prepared the company to tackle any disruptions in 2021.

(Rohit Vaid can be contacted at rohit.v@ians.in)

--IANS rv/sn/arm

( 443 Words)

2021-04-07-17:42:23 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Office space demand subdues in Jan-Mar: ...
Covid spike to delay domestic air passen...
Air India pilots threaten industrial act...
Emerging markets' quantitative easing pr...
Vahdam India doubles net revenue to Rs 1...
Quint Digital Media logs Q4 net profit o...
More...
 
INDIA WORLD ASIA
NGT clears TN's Mettur Lift Irrigation P...
No plan to impose lockdown in Haryana: D...
Chhattisgarh govt caps charge on handlin...
Kumbh 2021: All 13 akharas participated ...
Habeas corpus plea for two missing from ...
Two arrested in Gurugram for betting on ...
More...    
 
 Top Stories
Covid maintains surge in Kerala, TP... 
Azam's smashing ton helps Pakistan ... 
Maxwell ends fifty drought after 3 ... 
Covid spike to delay domestic air p... 
320 doses of Covaxin go missing fro... 
Air India pilots threaten industria... 
Vahdam India doubles net revenue to... 
NGT clears TN's Mettur Lift Irrigat...