Tata Motors Targets 20% Market Share by FY31
· Business · The Hindu, Hindustan Times
Tata Motors Passenger Vehicles aims to increase its domestic market share to 20% by FY31, with a near-term goal of surpassing 15%. Managing Director and CEO Shailesh Chandra stated that the business, which became a standalone entity following a demerger last year, has experienced nearly 40% growth over the past 12 months. Electric vehicles currently account for more than 25% of the company's total sales. To achieve its long-term targets, the company plans to invest in new product categories and accelerate the frequency of product updates. Tata Motors expects to finish the current month with total sales reaching approximately 7,50,000 vehicles for the year.
Why it matters
The company's aggressive growth strategy and focus on electric vehicles are significant indicators of shifting trends in the Indian automotive market.
Read the original report — The Hindu
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