NEW DELHI, India (Reuters) -- Tata Motors Ltd., India's top automaker, today launched a range of passenger vehicles in an effort to gain share in a competitive market.
Tata -- which on Thursday will be unveiling its " People's Car" priced at about $2,500 -- will sell the new-generation Indica, the latest version of its best-selling hatchback, starting in late 2008, Chairman Ratan Tata said at an auto show.
" Ten years after it was first launched, we have a car that has a respectable market share, is very visible on the roads in India and some roads elsewhere," Tata said at the unveiling of the Indica.
Even though a booming economy has boosted vehicle demand in India, growing competition, higher interest rates and rising raw material costs have hurt carmakers such as Tata.
Tata Motors also launched a compact variant of its Indigo sedan and a variant of its Sumo multiutility.
The company also will launch the Xenon XT pickup this year.
The Indica has a 1.3-liter diesel engine, which will be made at a new Tata-Fiat joint venture plant in western India. It will be priced higher than current Indicas.
The Indigo, which goes on sale this month, will come in gasoline and diesel variants.
