Tata Motors has announced an ambitious five-year plan for its passenger vehicle segment, aiming to achieve over 1.2 million unit sales annually by FY30. The company also targets a 20% market share in the domestic passenger vehicle market and revenues of Rs 1.4 lakh crore. This plan is supported by investments of nearly Rs 40,000 crore in products and manufacturing.
During the company’s 81st annual general meeting, Tata Motors Chairman Natarajan Chandrasekaran highlighted the goal of a tenfold increase in passenger vehicle volumes from FY20 to FY30. Chandrasekaran emphasized the company’s vision to grow volumes significantly, aiming for 1.2 million vehicles and a 20% market share by FY30.
Tata Motors plans to enhance its product lineup with six new nameplates and more than 20 product updates in the next five years. The company’s focus includes improving profitability, targeting double-digit EBITDA margins. Additionally, Tata Motors expects electric vehicles to contribute over 30% of its passenger vehicle sales volumes by the end of the decade.
Managing Director and CEO Shailesh Chandra outlined the passenger vehicle business’s revenue target of Rs 1.4 lakh crore by FY31. The business aims for double-digit EBITDA margins and an EBIT margin exceeding 5%. Chandra also mentioned the growth strategy’s reliance on investments of approximately Rs 40,000 crore in new products and manufacturing capacity, with a goal of achieving free cash flows of Rs 10,000 crore.
