"Our market share is relatively small. We have the (compact sedan) Indigo in this segment. It is about six per cent. Now with this launch it (market share) will grow quite strongly", Tata Motors Ltd, President, Passenger Vehicle business unit, Ranjit Yadav told reporters.
Automobile manufacturer Tata Motors is eyeing to capture more market share in the compact sedan market, following the launch of its latest product "Zest", according to a top company official.
"Our market share is relatively small. We have the (compact sedan) Indigo in this segment. It is about six per cent. Now with this launch it (market share) will grow quite strongly", Tata Motors Ltd, President, Passenger Vehicle business unit, Ranjit Yadav told reporters.
He was speaking after launching Zest in Tamil Nadu market.
Zest is priced between Rs 4.63 lakh (for base petrol variant) and Rs 7.05 lakh (ex-showroom Chennai for top end diesel version).
He said the company would retail compact sedan Indigo along with Zest while Manza will be positioned above the compact sedan segment.
He declined to reveal any numbers on how much market share the company has set as a target.
Following the launch of Zest, Yadav said the company has undertaken a 360 degree campaign across its retail outlets.
"We are doing a 360 degree campaign. Lots of work has gone on digital marketing. It started with the Revotron engine. In Tamil Nadu alone we are going to complete all the dealerships with the new marketing campaign by September", he later told PTI.
Asked whether such an exercise was necessary following the launch of one product (Zest), he clarified it was part of the company's strategy, as new products would be launched in similar concept across the dealerships.
"After Zest, we have the Bolt. It has been designed for all our future products. For Zest customers alone, we have recruited over 3,000 new sales staff", he said.
The company has upgraded the showrooms to deliver a world class ambience, purchase experience and after-market service. This is being achieved through technology-enabled dealerships, providing sales, service and spares.
Tata Motors stock price
On August 11, 2014, Tata Motors closed at Rs 447.40, up Rs 14.40, or 3.33 percent. The 52-week high of the share was Rs 488.05 and the 52-week low was Rs 276.15.
The company's trailing 12-month (TTM) EPS was at Rs 0.08 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 5592.5. The latest book value of the company is Rs 59.58 per share. At current value, the price-to-book value of the company is 7.51.
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