Mumbai, Jan. 30 :    Mumbai, Jan. 30:  Telco today took the wraps off its latest offering - the Indica V2 - which it called the 'the next stage of evolution of the diesel Indica'. Telco expects to have one lakh Indicas on the road very soon; by the end of December, there were 90,000 Indicas on the freeway. Presenting the V2 range, Telco general manager (commercial passenger car business unit) Rajiv Dube said the refinements covered the suspension system and engine. The V2 will have an improved gear box technology and wider tyres, he added. The two new power steering versions were the DLS model in the diesel Indica V2 range and the LSi model in the Indica 2000 range, he said. These models are being positioned above the air-conditioned ones. The improvements come at no extra cost. Incidentally, Tata Indica had raised its prices earlier this month. Analysts tracking the sector said the refinements had been made to maintain, if not stem, the slide in Telco's market share. Tata Indica has managed to hold on to its market share in a vastly shrinking market. Tata Indica holds 17 per cent in its segment of small cars and 8 per cent in the total passenger car segment. 'If we have marginally lost market share, then so has everybody else among the existing car models,' said Dube. The new car models like the Ford Ikon, Maruti's Alto and Wagon R have eaten into the market share of existing models. Telco's car business has a long way to go before achieving full breakeven. However, Dube insisted that the company had managed a cash breakeven by producing 25,000 Tata Indicas' in the first six months of the current fiscal. Incidentally, the company had targeted sales of 90,000 cars for the whole year which was later scaled down to 70,000 units when the car market began to shrink. Dube is optimistic that the market will bounce back after the new auto policy is announced. 'We expect the car markets to take off by March,' he said. However, he was unwilling to hazard a guess on the number of cars he would sell by the end of this year. The company also announced an attractive three-year extended warranty programme for its entire passenger car range with effect from February 1. Tata Indica customers can extend the warranty coverage on their cars beyond the normal manufacturer's warranty of 18 months by another 18 months by paying an extra Rs 1800 for the Indica and Rs 2800 for the Sumo, Sierra and Safari range. The company is also developing a CNG model of the Indica which will be launched later this year.