The 'connect' factor: Tata Nano may not have its date with the sunset in a hurry

The role of Tata Nano, which earned the sobriquet of being a "people's car" is far from over in the public mindspace. Or, that of the iconic mini car's creator Tata Motors. Though gauchely designed, the car had an appeal across the masses and classes, with a ubiquitous presence on Indian roads.

As yet, the "emotional connect" of Tata Motors with its pet product is likely to continue as production of the car, which the company has said it plans to phase out, may not come to a standstill in the immediate future.

"Nano plays an important role in our PV (passenger vehicle) strategy because it is our only product in the entry hatchback segment, which is a very important segment from a first time buyer point of view," a Tata Motors spokesperson told PTI in an emailed reply on Tuesday.

The spokesperson told PTI that the company regularly reviews its product strategy and will certainly give an update in the months to come. "Till that time, we continue to produce Nano catering to customer demand in key markets," the spokesperson said.

Plagued by falling sales in the past few years, the Tata Nano, a brainchild of Tata Sons Chairman Emeritus Ratan Tata, has not worked wonders for Tata Motors' bottomline. Indeed, it has been the subject of feverish discussions about its future place in the company's growing product line-up.

PTI quoted the company spokesperson as saying that there have been a lot of conclusions about the future of the Nano. "No decision has been taken on Nano yet as this cannot be done in isolation. Decisions regarding any product will be taken in context of the entire Passenger Vehicle Strategy," the official was quoted as saying.

Tata Motors passenger vehicle sales have witnessed a strong growth trajectory. Company sales increased 22 per cent in 2016-17, while the industry growth stood at 9 per cent.

Mayank Pareek, president, passenger vehicle business unit, Tata Motors, has said that by the end of next year, the company aims to be among the top 3 PV players in the domestic market.

Speaking at the launch of Tata Motors' latest SUV Nexon in Hyderabad on Monday, Pareek said that following the company's entry into newer segments and the launch of market leading products, its aim is to cover 95 per cent of the market by 2020.

In the five months of the current fiscal (2017-18), the market grew by almost 6-7 per cent whereas the company grew by 11 per cent, Pareek told PTI.

To a query on foraying into the electric vehicle segment, Pareek said that the Tata Motors European Technical Centre PLC (TMETC), a subsidiary of Tata Motors in UK, has already built electric versions of the Tiago and the Bolt.