Tata Motors PV expects 15% market share 'very soon', eyes 20% by FY31: MD Shailesh Chandra
Tata Motors MD & CEO Shailesh Chandra said the passenger vehicle business, which became a standalone entity following the demerger effective October 1 last year, has grown nearly 40% over the past year
Tata Motors Passenger Vehicles (PV) anticipates crossing the 15% domestic market share mark in the near future, with CEO Shailesh Chandra stating that reaching 20% by the fiscal year 2031 is a previously declared goal. The standalone PV unit, established following the demerger on October 1, 2024, has seen a 40% growth over the past year, having sold nearly 7,50,000 vehicles by the end of the first anniversary.
The company aims for significant double-digit growth and to lead in sustainable and zero-emission powertrains, with electric vehicles accounting for over 25% of total sales as of September. Chandra highlighted multiple avenues for market expansion, including untapped segments, evolving affordability and demand at different price points, and faster growth in electric vehicles (EVs) and compressed natural gas (CNG) powertrains.
The company has set an ambitious target of reaching 1.2 million annual sales and 20% market share by the fiscal year 2031, emphasizing an agile approach to achieve these goals.
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- Tata Motors PV expects 15 pc market share 'very soon': MD Shailesh Chandra hindustantimes.com
