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Faced with steep fall in sales of Nano, Tata Motors today said it will reposition the budget car as ‘a smart city car’ with added features such as power steering, apart from introducing a CNG version.
“We are now focusing on increasing the features and the perceived value of the Nano with every subsequent model launch,” Tata Group chairman Cyrus P Mistry told shareholders at the 68th Annual General Meeting here.
“We are now focusing on making it a smart city car and targeting the young customers,” he added.
Despite discounts and other freebies, Tata Motors has not been able to draw in customers to Nano showrooms and its dedicated Nano plant at Sanand in Gujarat is running much below its capacity.
According to Siam data, market share of Tata Motors dived to 8.9 per cent in July in the passenger car space, from 11.8 per cent in March, pushing it down to the fourth slot. For commercial vehicles, the share slipped to 52.9 per cent from 56.1 per cent.