Having grown from sixth position in the Indian passenger vehicles segment to number two player in 2026 in six years, Tata Motors Passenger Vehicles Ltd is now aiming 20% market share and annual sales volume of over 1.2 million vehicles in five years its chairman said.
“Looking at this decade of transformation from FY20 to FY31: we will grow the business by 10x. Our ambition is to scale to over 1.2 million annual sales, achieve 20% market share and double-digit EBITDA margin,” said chairman N. Chandrasekaran on Wednesday (July 8, 2026) while addressing shareholders at the company’s Annual General Meeting (AGM).
He said the company would strengthen its portfolio with the launch of six new nameplates and over 20 product refreshes and make Electric Vehicles (EV) contribute more than 30% of its sales volumes.
He said over the past six years (FY20-26) the domestic passenger vehicle business has grown nearly five times in volumes and close to six times in revenues.
From cash burn of ₹4,000 crore the situation had improved to a surplus of ₹2,000 crore, he added.
“Equally significant has been the strengthening of our market position. From a market share of 4.8% in FY20 to 14.2% in Q1 of this year, we have risen from being ranked as low as 6 in certain periods of FY20 to becoming the number 2 player in the Indian passenger vehicle market,” he emphasised.
Stating that the company had made a big stride in electric mobility due to it’s firm conviction in this segment, he said monthly sales volumes have increased from about 100 units/month in FY18 to around 15,000 units/month in June 2026.
“More importantly, despite a significant increase in competitive intensity, we have sustained market leadership in electric vehicles for 7 consecutive years
Coming to FY26, it was another year of strong execution and meaningful progress across our business,” he stated.
In the second half of the year, the company emerged as the second-largest player in the market, with a market share of over 14%, he pointed out.
He said Jaguar Land Rover showed resilience through a challenging period. Amidst external disruptions, including tariff impacts and a cyber incident, JLR made strong operational progress in the development of its next-generation models and continued growth of its modern luxury brands.
“The year ahead is promising and exciting for JLR as it reimagines growth with a sharper focus on Modern Luxury, driven by distinct brand identities, a reinforced North America strategy, and deeper customer personalization,” the Chairman said.
“With the launch of its next-generation vehicles and a renewed strategic direction, JLR is taking decisive steps to unlock its full potential,” he added.
He said the focus has been to build trusted, aspirational and globally competitive mobility brands that connect meaningfully with customers.
Also to have a strong pipeline of new products and powertrains across Tata Motors Passenger Vehicles and JLR.
The emphasis is on enhancing safety, quality and customer experience and increasing use of digital technologies across the value chain, he added.
He said the company would further strengthen collaboration between TMPVL and JLR, leveraging complementary capabilities in manufacturing, technology, and people.
The successful commencement of operations at the TMPV–JLR facility in Panapakkam, Tamil Nadu, represents a significant milestone, he pointed out.
Published - July 08, 2026 10:26 pm IST