Tata Motors working on strong pipeline of products: Mistry

Chairman Cyrus P MistryNew Delhi - Tata Motors is working on a strong pipeline of products for the domestic market keeping in view changing customer needs to make the company more profitable over the years, Chairman Cyrus P Mistry has said.

In a letter to shareholders, Mistry said the company is also working on various other initiatives including enhancing customer experience to grow more profitable.

"Tata Motors is working on a strong pipeline of new products and technologies keeping in view the changing market, customers' aspirations and regulatory needs," Mistry said.

The company is at an inflexion point with its entire product portfolio being revamped with relevant and exciting products for the target customers, he added.

"Initiatives on cost-erosion and customer experience are being pursued with great rigor to help transform the organisation into a more competitive and profitable business in the coming years," Mistry said.

Further to ensure long-term competitiveness, the company has taken several steps under the Horizonext strategy- new products, quality improvement and enhancement of the consumer experience- that will help improve sustainable profitability of the business in long-term, he added.

The company has steadily progressed in all these areas and is inculcating a culture which is intolerant to poor quality, Mistry said.

He admitted that Tata Motors domestic business lost market share in both commercial vehicles and passenger vehicles business due to tough environment.

In FY2013-14, the Mumbai-based firm's passenger vehicle sales declined by 36 per cent while the commercial veh