Tata Motors has announced it will go ahead with a Rs 3000 crore investment to support future growth despite the economic slowdown as well as decline in their sales. The company had pledged to invest this amount at the beginning of this fiscal year. The Indian automaker is expected to use this money to develop future products and services.
The company hasn’t been doing quite well when it comes to total sales numbers in the current challenging market conditions but expect to bounce back in coming days. Few months ago, Tata Motors showcased its Horizon Next Strategy and unveiled eight models in its line-up. These updated models will play important role in company’s future growth.
"As of now, there is no change in our plan. We will continue with our game plan of investment that we had planned during the beginning of this fiscal and we will continue to stay with that investment. We will certainly tighten up our belts and try to be smarter in our investments. We will not be delaying any of our projects which we are working on, which calls for such investment," said Ankush Arora, senior VP, Tata Motors.
"On an overall basis, our volumes have not been to the level where we were last year, but in certain pockets, as our portfolios get enhanced in months ahead we will find favoured with different set of consumers.We are facing a challenging situation today, but basic fundamentals of the business are very strong and I think it's just a matter of time for us to bounce back and be a valuable player in the market," he added.