Tata Motors targets bigger slice of PV and CV markets

Published 23 June 2026 · finance

Tata Motors Passenger Vehicle Ltd and Tata Motors Ltd have set ambitious market share goals, with the passenger vehicle business aiming for a 20% share

Tata Motors Passenger Vehicle Ltd and Tata Motors Ltd have set ambitious market share goals, with the passenger vehicle business aiming for a 20% share by 2030-31 and the commercial vehicle unit targeting 40% by 2027-28. Tata Motors PV, during its investor day on Tuesday, revealed a 26-model product offensive for the domestic market, including six new nameplates, as it aims to nearly double its sales to more than 1.2 million units by FY31 to reach 20% market share by FY31. The PV business is also looking to tap new export markets after gaining a foothold in countries such as South Africa, Sri Lanka, Nepal, Bhutan and Mauritius. The CV business, meanwhile, stopped short of sharing a long-term outlook and instead outlined a roadmap until FY28, centred on a product offensive and international expansion through exports and the Iveco acquisition to drive growth. The CV business will add nine new models across the small-CV and pickup-truck segments. The PV offensive A large part of Tata Motors PV's incremental growth of more than 600,000 units over the next five years will come from electric and CNG vehicles, as it expects that both technologies together will account for nearly half of sales in the Indian market.

“Our product interventions will expand our addressable market. New nameplates will capture existing segments, and also create new segments in the industry,” it noted in its presentation. While the carmaker is looking at two new EV-only nameplates, it will also launch three vehicles that will have both internal combustion engine (ICE) and electric variants. The Tata Motors PV commentary comes after a bruising year marked by challenges at its British subsidiary, Jaguar Land Rover. Revenue fell 8% to ₹3.35 trillion as volumes shrank 23% to 308,000 units, while the September cyberattack and higher US tariffs pushed the company to an operating loss of ₹1,377 crore from a profit of ₹19,394 crore in FY25. However, the carmaker expects to nearly double its revenue to ₹6 trillion by FY31 and achieve a double-digit operating profit margin of 10%. JLR has guided for a 4% operating profit margin for FY27. The Tata Motors PV stock fell 1.95% on Tuesday, as against a 0.77% declilne in the Nifty Auto.

Also Read | Jaguar Land Rover pays record ₹4,660-crore dividend to Tata Motors PV The CV offensive As Tata Motors is still awaiting the completion of its $4.4 billion acquisition of its Italian peer, Iveco, it foresees a 4% gain in market share by FY28. At the end of FY26, it had a 36% market share and 428,000 unit sales. The Iveco acquisition has slipped beyond its original June-quarter timeline and is now expected to close in the September quarter. “Synergies from Iveco acquisition will unlock new geographies and complementary products,” the investor presentation noted. To be sure, this is the first investor day for the CV business since it listed separately in November, following its demerger from the PV business. Its management noted that the company would focus on four key levers: profitable growth, defending its number-one market position, new customer-centric offerings, and scaling its international business. It also plans to expand its offerings in international markets, given demand in key ASEAN (Association of Southeast Asian Nations) markets such as Indonesia.