The company is also introducing measures to cut costs at all levels in the organisation and at the same time, working on improving manufacturing quality as well as workforce efficiency at multiple levels.

"We are looking at customer satisfaction and that also includes sales network expansion. Other initiatives include reduction in costs, improving product quality, enhancing brand image and filling the gaps in the product portfolio," Tata Motors President for passenger vehicle business, Mayank Pareek said.

As part of its strategy to be present in every nook and corner of the country, the company plans to triple its sales network in the next four years. "At the end of last fiscal, we had a total of 500 dealerships. We aim to triple that to 1,500 outlets in the next four years. This is an audacious target we have set as India is a vast country. You need to be near the customer," Pareek said.

The company plans to open as many as 200 outlets in the current fiscal, of which it has opened 81 new dealerships in April-September.

"We want to be widely spread out and deeply penetrated. In the next five years, 50 per cent of the demand would come from towns having less than 50,000 population. To address this market, you need to spread out," Pareek said.

Tata Motors, which plans to launch two new products each year till 2020, is also looking to bolster its product portfolio by filling in gaps by introducing various models. "We have lots of gaps in our portfolio. Naturally, these have to be filled. We have a road map to fill these gaps. Going forward, you will see two new products from us every year," Pareek said.

Asked if the company plans to launch a compact sports utility vehicle (SUV), he added: "That is growing (compact SUV segment). We will have a compact SUV. In the SUV segment, we really need to strengthen our portfolio. The segment is growing and is around 20 per cent of the market. Our products need to be refurbished."

Pareek also hinted at introducing a bigger SUV. The company already sells Safari in this segment.