Tata Motors is gunning for aggressive growth in its commercial vehicle (CV) exports. The company, which currently has a 45 percent market share in the domestic CV market, is also the largest CV exporter from India. In FY2014-15, it shipped 46,160 units overseas, posting a 7.57 percent year-on-year increase. By 2018, the company is targeting exports of around 140,000 units, which is a three-fold jump over last fiscal’s numbers.

Speaking at a media round-table in Mumbai, Ravi Pisharody, executive director, Commercial Vehicles Business Unit , Tata Motors, said the domestic M&HCV market, which has seen consistent growth for the past 11 months, will see a spike in demand due to new regulations that will come into effect in October. This is when fitment of anti-locking braking system (ABS) and speed limiter will become mandatory in the country.

Also, with the M&HCV sector taking to growth path, Tata Motors is taking a firm stand on discounts. Pisharody said, “We have capped our discounts. We don’t want to be discount leader.” He added that the current growth in M&HCVs is being driven by the cargo truck segment; tippers and construction application trucks have yet to see growth.

Commenting on hybrid buses in India, Pisharody said: “The government has to offer more support for viability of hybrid buses.”

Meanwhile, Tata Motors is to launch a refreshed Xenon pickup in Thailand this quarter. The company is also developing an automatic transmission for the Xenon in Australia. Fifty percent of Australia’s pickup market constitutes automatic transmission-equipped vehicles. Pisharody said: “Australia is a lead market for us in terms of technology development.”