Tata Motors Passenger Vehicles Ltd (TMPV) has set an ambitious growth roadmap for the rest of the decade, targeting a ten-fold increase in volumes between FY20 and FY30, sales of more than 1.2 million vehicles and a 20 per cent share of the passenger vehicle market, Chairman N Chandrasekaran said on Wednesday.
"Looking ahead in the next five years, the company has a big ambition. Basically, in the decade between FY20 and FY30, the company wants to achieve a 10x growth in volumes with an ambition of 1.2 million-plus vehicles and achieve a market share of 20 per cent from the current 14.2 per cent," Chandrasekaran said while addressing shareholders at the company's Annual General Meeting.
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He said TMPV will continue to focus on launching products that are aspirational for today's consumers as it pursues its long-term growth strategy.
AI, product pipeline drive next phase
Chandrasekaran said the company is "significantly investing in digital technologies, especially AI, across the value chain", adding that collaboration between Tata Motors Passenger Vehicles and Jaguar Land Rover (JLR) is deepening by leveraging complementary strengths in manufacturing, technology and people.
He said the company has entered FY27 with confidence, backed by a strong pipeline of new products and powertrains across both Tata Motors' passenger vehicle business and JLR. JLR, he added, has "a series of launches coming up in the second half of this year".
Reflecting on the company's progress since the pandemic, Chandrasekaran said Tata Motors has transformed its financial performance, with what was once a cash burn of Rs 4,000 crore turning into a positive cash flow of Rs 2,000 crore, while EBITDA has improved by more than Rs 5,000 crore.
Transformation, resilience remain central
He said successive product launches helped lift the company's passenger vehicle market share from 4.2 per cent to 14.2 per cent.
Chandrasekaran also said Tata Motors remains committed to the electric vehicle transition, noting that the company had an early conviction that EVs would shape the future and has built a strong foundation for growth.
On Jaguar Land Rover, he said a cyber incident led to a temporary production pause of "almost a couple of months", contributing to a 21 per cent decline in revenue over the previous year, with the business delivering close to 23 billion British pounds in revenue.
He added that the demerger of the passenger and commercial vehicle businesses marks "a very decisive step" towards building "a differentiated, future-ready, world-class personal mobility enterprise", with the ambition to create "a trusted, aspirational, globally competitive mobility brand that connects meaningfully with all customers of tomorrow."
(With inputs from PTI)
