Hyderabad, Sep 25 (UNI) Tata Motors Passenger Vehicle Business Unit President Mayank Pareek today said that the company had posted 22 per cent growth as compared to automotive industry growth of 9 per cent during the last financial year 2016-17. This year, during the last five months, the company has posted 11 per cent growth as compared to the industry growth of 8 per cent, he said and hoped to reach more than the last year’s growth. Talking to reporters after the launch of it news gen-next lifestyle SVU, the Tata Nexon here, Mr Mayank said that the company has growing continuously for the last five quarters because of the launches of four products since the last 16 months. “ It is the fastest new product introduction company in the industry ”, he said. Mr Mayank said that the company has posted 4.7 per cent market share in passenger vehicle segment during the year 2016-17 and expected to reach 5.5 per cent during 2017-18. In taxi vehicle segment, the company has 12 per cent market share, he said. Mr Mayank said that the company has sold out 1.2 lakh vehicles during last year and expected to reach 2 lakh vehicles this year. There was 50 per cent of people who are aspiring at present for Tata Motors vehicles and it is expected to reach 60 per cent after the launch of Tata Nexon, he said. Speaking on the new product, Mr Mayank said that the Tata Nexon was the fourth product based on the impact design philosophy. It brings together global and contemporary design with best-in-class technology and features for the ones who would like to express themselves with a unique style of their own. Keeping customers and their aspirations at the heart of the business, the Tata Nexon would deliver an emotional elevation through more individualized experiences in the passenger vehicle market, he said. Mr Mayank said the Tata Nexon is available in four variants—XE XM, XT, XZ, and available in five colour options. With an introductory price of Rs 5,92,356 ex-showroom price in Hyderabad, for the petrol variant and at Rs. 6,92,474, ex-showroom Hyderabad, for the diesel variant, the car enters a highly competitive segment which is also one of the fastest growing segments in India. UNI VV CS1700