Tata Motors is hopeful of increasing its market share with the launch of a new version of sports utility vehicle (SUV) Safari Storme.

Launching the SUV, priced between Rs 10.04 lakh and Rs 14.12 lakh (ex-showroom Kolkata), Tata Motors utility vehicle product group head Ashesh Dhar said, "We are looking at a permanent role in the SUV market... We at present have a 12 per cent market share and we are definitely seeing it increase".

In the last fiscal the company had sold about 16,000 Safaris, he said adding the SUV market is as present 5.7 lakh units and growing at an astounding rate of 50 per cent.

The vehicle market is growing at about just 6-7 per cent, he said.

Safari Storme is powered by a 2.2 litre DiCOR engine that produces 140 bhp of power at 4,000 rpm and 320 Nm of maximum torque at 1,700-2,700 rpm.

It will compete with Mahindra and Mahindra's Scorpio and XUV 500 and Renault's Duster which was launched recently.