The Turnaround 2.0 strategy was launched in FY19 to drive Competitive, Consistent and Cash-accretive growth. While TML has undertaken robust turnaround actions, it continues the journey by: emphasising operational efficiency using common platforms; initiating cost reduction and capex rationalisation programmes; leveraging on developments in EV markets; and launching a new BSVI portfolio that offers exciting features and delivers an enhanced value proposition.

TML is focused on activating retail sales for both CV and PV segments, requiring close coordination with dealers in managing stocks. Through such focused action plans, smooth transition into BSVI was achieved. Key priorities include enhancing retail sales, efficiently managing dealer network inventories and improving dealer performance, profitability and network expansion.

The CV industry faced significant headwinds in FY20 on account of economic slowdown, liquidity stress, stock correction due to BSVI transition and the COVID-19 pandemic towards the year-end.

During the year, TML presented 14 all-new BSVI range of products across segments at the Auto Expo 2020, covering sub-1 tonne to 55 tonne GVW, with 140+ type approvals and 19 engines (including alternate fuel options), thus providing a vast array of product offerings to its customers. TML showcased the Tata 4/12 m low floor entry electric bus – the first full-electric drivetrain. The Tata Ultra T.7 Electric was also on display, as India’s first-ever intermediate commercial electric truck.

In order to achieve complete customer satisfaction and sustain the same throughout the lifecycle of the vehicle, a revamped Sampoorna Seva 2.0 was launched, offering a comprehensive and complete solution for the maintenance and smooth functioning of the vehicles.

Overall, CV domestic sales in FY20 were lower by 33.4% compared to FY19. Retail sales in FY20 were higher than wholesale sales by 16%. As a result, the BSIV inventory in the ecosystem was near zero.