Tata Motors’ Passenger Vehicles (PV) division has announced an ambitious long-term growth plan, targeting nearly a doubling of both revenue and sales volumes by fiscal year 2031. The company outlined its projections in an investor presentation on Tuesday, signaling strong confidence in demand expansion and its future product strategy.
The automaker expects revenue to exceed ₹6 trillion (approximately $63.3 billion) by FY2031, compared to ₹3.36 trillion reported in FY2026. Over the same period, annual sales volumes are projected to rise to more than 1.2 million units, up from around 640,000 units.
A significant portion of the incremental growth is expected to come from electric vehicles (EVs) and compressed natural gas (CNG) models, reflecting the company’s focus on cleaner mobility solutions. Tata Motors PV also plans to invest between ₹330 billion and ₹350 billion in its passenger vehicle and EV business between FY2026 and FY2030 to support this expansion.
In addition, the company aims to increase its production capacity to 1.3 million units within the next two to three years, up from the current 900,000 units annually. It has also set long-term profitability targets, including an EBIT margin of 10% and a market share goal of 20% by 2031.
The strategy further highlights an expanded powertrain approach, with increased emphasis on gas-powered vehicles to attract a wider customer base while maintaining emissions reduction goals.
