Tata Motors Passenger Vehicles (TMPV) has announced an ambitious growth strategy to expand its domestic passenger vehicle business nearly tenfold by financial year 2030-31 (FY31), targeting annual sales of over 1.2 million vehicles and a 20 per cent market share in India.
At the company’s 81st Annual General Meeting, Chairman N Chandrasekaran said the demerger of the passenger vehicle and commercial vehicle businesses marks the beginning of a new phase for Tata Motors as a focused personal mobility company. He highlighted the company’s strong growth journey over the past six years, with domestic passenger vehicle volumes increasing nearly five times and revenue rising almost six times since FY20.
For FY26, Tata Motors recorded its highest-ever domestic passenger vehicle sales of around 6.42 lakh units, registering 15.3 per cent annual growth. The company also strengthened its position in the electric vehicle segment, selling 300,000 EVs and maintaining leadership in India’s EV market for the seventh consecutive year.
As part of its future roadmap, TMPV plans to introduce six new vehicle models and more than 20 product updates by FY31. The company aims to achieve double-digit EBITDA margins, increase EV contribution to over 30 per cent of total sales, and invest further in digital technology, artificial intelligence, safety, and customer experience. Tata Motors will also leverage closer collaboration with Jaguar Land Rover to enhance manufacturing and technology capabilities as it pursues long-term growth in India and global markets.
