Tata Motors looks for 20% PV market share by 2030

Currently, Tata Motors’ product portfolio occupies six sub-segments which represent 53% of the total industry volume.
Tata Motors looks for 20% PV market share by 2030

NEW DELHI: Buoyed by success of Nexon and Punch, Tata Motors has set an ambitious target to achieve 18-20% share in the Indian passenger vehicle (PV) market. To achieve the desired result, the auto major will be expanding its portfolio by launching a slew of new products across different powertrains.

“We will target for 18%-20% market share with our endowments. We will grow faster than the industry leveraging new nameplates and powertrain shifts,” the company said to investors in a presentation released on Tuesday.

Tata Motors, which competes aggressively with Korean carmaker Hyundai (HMIL) for the second spot in the Indian car market, had a market share of little less than 14% in the financial year 2024. Hyundai had a market share of more than 14% while market leader Maruti Suzuki was leading with about 42% share. Total domestic PV sales in India was 4.2 million in FY24.

Given that Maruti Suzuki, Hyundai and Mahindra & Mahindra also have aggressive expansion plans with committed investments amounting to billions of dollars, it would be a challenging task for Tata Motors to increase its market share by 4-6% in about 6 years.

Tata is pinning hope on new launches in the mid-size SUV segment – Curvv and Sierra – and a powertrain shift towards CNG and electric vehicles (EVS) to improve its market share to 16% by FY27. It believes additional launches and continuing powertrain shift to take its market share to 18-20% in another 2-3 years.

Currently, Tata Motors’ product portfolio occupies six sub-segments which represent 53% of the total industry volume. Tata said it will increase this to 80% with new nameplates.

In the EV space where Tata Motors has maintained a 70% plus market share, the company has plans to incur a capital expenditure between Rs 16,000 crore and `18,000 crore till FY30. The company, which currently sells four electric car models, aims to launch six more by March 2026.

It would be launching Curvv.ev and Harrier.ev in FY25 and Sierra.ev and Avinya in FY26. Tata Motors also has plans to increase the number of electric car dealerships to 50 cities within the next 24 months.

Tata Motors also informed that its Indian operations are now net debt-free and British subsidiary Jaguar Land Rover (JLR) is expected to achieve the same status by FY25. The company aims to increase its profit margins on passenger cars by 2% in the coming years.

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