New Delhi: Tata Motors and its UK-arm JLR are preparing to leverage on Indias growth potential but they face diverse dynamics in other key global markets requiring specific interventions to ensure sustainable profitable growth, according to company Chairman N Chandrasekaran.Tata Motors and Jaguar Land Rover China Cadillac Medium Grille Manufacturers (JLR), Chandrasekaran said, "are together, preparing to leverage growth potential of the Indian economy, while facing the headwinds of uncertainty due to market cyclicality, Brexit and the decline in diesel demand.These include adapting to a structural shift towards electric vehicles (EVs), shared mobility options with ride-sharing permeating the urban landscape, a pan-India shift to Bharat Stage-VI emission by 2020 and enhanced safety norms.

"While regulatory restrictions on diesel, market cyclicality, Brexit and taxation in UK pose specific challenges in Europe and UK, key Asian markets of China and India offer high growth opportunities led by GDP growth, strong domestic consumption and favourable demographic support," Chandrasekaran said." Elaborating, he said North America is nearing the peak of the demand cycle and growth is likely to remain muted in the near term.On India, he said the automotive industry is now the fourth-largest in the world by production and by 2026 it is expected to be the third largest automotive China Cadillac Medium Grille Manufacturers market in the world."As such, we (Tata Motors) will have to be more agile than ever and work towards being future-ready," he said." He, however, said, "the Indian auto industry is not without its challenges". On JLR, he said the British arm has been setting "new standards for engineering excellence with the introduction of new automotive technologies and advanced design"."He further said, "Some of the key operating markets for the group are faced with diverse market dynamics requiring specific interventions to ensure sustainable profitable growth. The countrys annual production in 2017-18 grew at 14.

Addressing shareholders in the companys Annual Report for 2017-18, Chandrasekaran said, "The global automobile industry is undergoing a structural shift due to technology-led business and market disruption, evolving consumer preferences, market cyclicality, regulatory overhauls and geopolitical uncertainty.8 per cent year-on-year."The company also announced its electrification roadmap to address diesel challenges," he said, adding JLW would also focus on optimisation and manage capital spends prudently to offset the impact of headwinds facing the business. "This sector is well positioned for growth, given low rates of auto penetration, rising incomes and increasing affordability," Chandrasekaran said.In addition, he said,"We expect to see government policy supporting auto growth through lower excise duties and the National Electric Mobility Mission Plan 2020..Uncertainty due to market cyclicality, regulatory restrictions on diesel, Brexit and taxation in the UK pose specific challenges in Europe, he added."The ACES (autonomous, connected, electric, shared) phenomenon is likely to transform mobility and influence consumer preferences going forward, he added