Tata Motors Targets 20 Percent Market Share by FY31 After Strong Growth

Tata Motors Passenger Vehicles expects to cross a 15 percent domestic market share very soon and aims to reach 20 percent by financial year 2031. Managing Director and CEO Shailesh Chandra said the business has grown by nearly 40 percent over the past year. The company expects to sell nearly 750,000 vehicles as it completes one year of operating as a standalone entity following its demerger effective October 1 last year.

Growth Strategy and EVs

Electric vehicles account for more than 25 percent of total sales as the company exits September. Shailesh Chandra stated that growth will be driven by investments in new product categories, faster product changes, and powertrain expansion. The firm plans to target segments where it is currently absent, such as multi-purpose vehicles and lifestyle SUVs, while also focusing on fast-growing segments like electric vehicles and CNG where it already holds leadership positions. The company has previously stated its ambition to reach 1.2 million annual sales by FY31.