The country’s largest commercial vehicle maker, Tata Motors, is planning to ramp up revenues from its exports. Girish Wagh, head — commercial vehicles, Tata Motors, says the company has prepared an international business strategy, which would help it to earn 20% of its revenues from its CV business from exports. “Currently, we earn around 13% of our topline from exports,” said Wagh. According to Siam data, the company’s commercial vehicles exports are on a decline. In the first quarter of this fiscal, the company’s CV exports shrunk by close to 30% to 9,216 units from 13,085 in the same period last year.
The company is also going to pump in Rs 1,500 crore every year into its commercial vehicle business to facelift existing models while also filling product gaps in key segments. With the investment plan, the company is going to launch six new vehicles in the M&HCV segment this fiscal, and ramp up four models that they had launched last year in the 37 tonne and 49 tonne segments. Tata Motors is also going to launch 4 new light commercial vehicles this year.