Tata Motors PV expects 15% market share 'very soon', eyes 20% by FY31: MD Shailesh Chandra
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Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility. File | Photo Credit: Bijoy Ghosh
Tata Motors Passenger Vehicles (PV) expects to cross 15% domestic market share "very soon" and is working towards its previously stated target of 20% by FY31, as the nearly year-old standalone business looks to drive significant growth through investments in new product categories, faster product interventions, and powertrain expansion, its Managing Director and CEO Shailesh Chandra said.
In an interview with PTI, Mr. 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 and is exiting September with electric vehicles accounting for more than 25% of its total sales.
"Our focus is going to be, of course, to drive significant growth, double-digit growth. At the same time, we want to be leading the charge as far as the sustainable or zero-emission powertrains and emission-friendly powertrains are concerned, and at the same time, we have to continue to invest more aggressively, not only into new product categories, creating white spaces, but also in terms of faster change of interventions of the product to keep it relevant, to keep it competitive, to continuously keep it exciting for the customers," the Tata Motors MD & CEO said.
Elaborating on the company's performance during the last one year, Mr. Chandra observed, "You are already seeing, in the last one year, the number of refreshes, facelifts, and new launches that we have been bringing. I'm sure that when we end this month, which will be the completion of one year, we would have sold nearly 7,50,000 (vehicles).
"So the business would have come to that level, and we have grown in the last one year, by nearly 40%. So that's significant growth that we have been able to achieve and in this period, we have also been able to take the electric vehicle penetration as we are exiting this month to greater than 25%.β
"We are very close to 15% already, market share. So that (15%) should happen, you know, very soon. But the next 5% is going to come in the next five years," he said.
Mr. Chandra said the company has already stated its ambition of reaching 1.2 million annual sales and 20% market share by FY31.
"We have already stated that in the next four-five years, we want to be 1.2 million (annual sales), 20% market share, and that would mean a very agile way of working, and that is what the focus of this company is going to be," he emphasised.
The Tata Motors Passenger Vehicles MD & CEO said the company sees multiple avenues for gaining market share, including segments where it is currently absent, changing affordability and demand at different price points, and faster-growing powertrains such as EVs and CNG.
"I think it is in multiple directions. I would say one is those segments where we are not present today, where there are offerings in the market by other players, is one clear growth axis.
"The other growth axis is that affordability in the country is shifting, right, and demand at different price points is also shifting, and there are certain places where demand is going to go very big in certain price points, and therefore, whether we can come up with more exciting white space offerings, that can be another one, those segments don't exist today, for example.
"The third axis is, of course, the powertrains. EV and CNG are going to grow much faster than the industry and fortunately, in both these two segments, we are the leaders with higher market share than our overall market share. So, on all three axes, we have a strategy to grow," Mr. Chandra explained.
On segments where it currently has no presence, he said, "So, at least let's take for example, we might not be present in MPVs (multi-purpose vehicles). We might not be present in certain kind of lifestyle SUVs, right? Those would be some of the segments".
Tata Motors completed its strategic demerger into two separate, independently listed entities from October 1, 2025, separating its commercial and passenger vehicle operations.
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