Tata Motors PV Market Share: 5-Year Growth, EV Strategy & Forecast

Tata Motors has rapidly evolved over the past five years, transitioning from a mid-level auto manufacturer to one of India’s top passenger vehicle (PV) and electric vehicle (EV) players. Supported by a robust product strategy, consistent sales growth, and aggressive EV plans, Tata Motors is preparing for a pivotal phase between FY26 and FY30.

Table of Contents

1. Tata Motors PV Market Share Growth (Y-o-Y % Change Included)
2. PV Sales Volume Growth (Y-o-Y % Change)
3. Tata Motors PV Revenue (₹ Crore) with Y-o-Y Change
4. Monthly Sales Trends (Dec 2024–May 2025)
5. Tata Motors Strategic Outlook (FY26–FY30): Key Highlights
6. Key Challenges for Tata Motors PV (FY25–FY30)
7. Competition Summary
8. Industry Outlook
9. Conclusion
10. FAQs

Tata Motors PV Market Share Growth (Y-o-Y % Change Included)

Between FY2020 and FY2025, Tata Motors’ passenger vehicle market share rose from 5% to 13.9%, nearly tripling in five years. Strong product launches and SUV/EV traction drove sharp gains till FY2023. Market share growth stalled in FY2024 and FY2025, indicating a consolidation phase before the next expansion wave.

Wrap-Up: Tata Motors has solidified its PV market position, now focusing on EV-led growth to break past its 13.9% share plateau.

PV Sales Volume Growth (Y-o-Y % Change)

Tata Motors’ PV sales rebounded sharply from FY2021, driven by the success of new SUVs and EVs. Volumes jumped from 135,000+ units in FY2020 to 573,495 units by FY2024 a strong multi-year run. Growth moderated to 6% in FY2024, reflecting market saturation and a matured product portfolio.

Wrap-Up: After an impressive sales surge post-FY2020, Tata’s PV growth pace has normalised, setting the stage for its next EV-driven cycle.

Tata Motors PV Revenue (₹ Crore) with Y-o-Y Change

Tata Motors’ PV revenue surged from ₹16,606 crore in FY2021 to ₹52,353 crore in FY2024, reflecting over 3x growth. This was powered by a shift towards premium SUVs and EVs, leading to stronger average selling prices (ASPs). Revenue growth slowed to 9.4% in FY2024, in line with moderated sales volume expansion.

Wrap-Up: Robust revenue gains from a premium product mix have stabilised, mirroring the brand’s maturing growth phase.

Monthly Sales Trends (Dec 2024 - May 2025)

Tata Motors’ PV sales peaked at 51,616 units in March 2025, driven by strong demand for SUVs and new launches. Sales declined in April and May 2025 due to inventory correction and seasonal slowdown post-festive period. Top performers in May included Punch and Nexon, each crossing 13,000 units, highlighting sustained SUV strength.

Top Performers (May 2025):

• Punch: 13,133 units
• Nexon: 13,096 units
• Tiago: 6,407 units
• Curvv: 3,063 units

Wrap-Up: After a March high, Tata’s PV sales cooled off in April–May amid market adjustments and cyclicality.

Tata Motors Strategic Outlook (FY26 - FY30): Key Highlights

Tata Motors plans a ₹35,000 crore investment over five years, targeting 30 new PV models, including 10 EVs by FY30. EV market share has slipped to 35% as rivals intensify, though recent launches like the Harrier EV aim to reclaim leadership. The CV business demerger by December 2025 and double-digit EBITDA growth targets reflect its sharpened segment focus.

Major Investment Plans:

• ₹35,000 crore capex commitment for FY26–FY30
• 30 new product launches (7 all-new, 23 refreshes)

EV Expansion:

• 10 EV models by FY30
• 600+ km Harrier EV already launched
• EV market share fell from 81% (FY23) to 35% (May 2025) amid rising competition

Financial Targets:

• FY25 PV EBITDA: ₹3,400 crore (flat Y-o-Y)
• EV EBITDA-positive at 6.5% in Q4 FY25
• Double-digit EBITDA growth target

CV Business Strategy:

• CV market share down to 37% in FY25 (from 39%)
• Aim to regain 40% by FY27
• CV business demerger by Dec 2025

Global Expansion:

• Focus markets: ASEAN, Africa, Middle East, Latin America

Key Challenges for Tata Motors PV (FY25 - FY30)

Tata’s EV market share slid sharply from 81% to 35%, reflecting intensifying competition and market fragmentation. Passenger vehicle market share plateaued at 13.9%, while rising inventory and marketing costs are pressuring margins. The CV-PV demerger poses operational risks, alongside global expansion hurdles like regulatory barriers and brand awareness gaps.

• EV market share decline to 35% (May 2025)
• PV market share plateaued at 13.9% in FY24-FY25
• Rising inventory and marketing expenses
• EV segment cash flow still negative in the near term
• CV market share drop to 37%
• Global expansion hindered by awareness, regulations
• Execution risk around CV-PV demerger

Wrap-Up: Tata Motors faces execution, profitability, and market share challenges that could weigh on its ambitious FY30 goals.

Competition Summary

Tata Motors holds a strong position in the compact SUV space with Punch and Nexon leading volumes. Its early dominance in premium EVs is slipping as rivals like MG and Mahindra scale up aggressive launches. The hatchback segment remains highly competitive, while Tata is underrepresented in MPVs and faces steep challenges in exports.

Main Rivals:

• Hatchbacks: Maruti, Hyundai
• Compact SUVs: Hyundai, Kia, Mahindra
• Premium EVs: MG, BYD, Mahindra
• MPVs: Toyota, Maruti
• Global Exports: Hyundai, Toyota, Chinese OEMs

Wrap-Up: While Tata Motors leads in compact SUVs, growing EV rivalry and export hurdles demand strategic agility.

Industry Outlook

The Indian passenger vehicle (PV) market is projected to grow from 4.3 million units in FY25 to 6 million units by FY30, marking a solid 40% rise. This expansion will be led by rising demand for SUVs and electric vehicles, backed by improved affordability and infrastructure. Tata Motors plans to scale in line with industry growth, with a strategic emphasis on premium SUVs and a broad EV portfolio.

Wrap-Up: India’s PV market is set for robust growth, and Tata Motors aims to capitalise with a premium, EV-focused product mix.

Conclusion

Over the past five years, Tata Motors has transformed into a serious contender in India’s passenger vehicle space, nearly tripling its market share. Backed by a ₹35,000 crore investment plan, a robust EV lineup, and overseas market ambitions, it’s positioned for sustained long-term growth. Yet, flat market share, intensifying EV rivalry, and operational risks from the upcoming CV-PV demerger remain critical challenges to manage.

Wrap-Up: Tata Motors is poised for growth, but future success hinges on flawless execution across product, EV, and structural transitions.

FAQs

Q1. What is Tata Motors' current market share in India’s passenger vehicle market?
As of FY2025, Tata Motors holds a 13.9% market share in the Indian passenger vehicle (PV) market nearly triple its share from FY2020.

Q2. How many passenger vehicles did Tata Motors sell in FY2024?
Tata Motors sold 573,495 passenger vehicles in FY2024, registering a 6% year-on-year growth from FY2023.

Q3. What are Tata Motors’ future plans for electric vehicles (EVs) in India?
Tata plans to launch 10 electric vehicle models by FY2030, led by products like the Harrier EV and Avinya range, aiming to regain lost EV market share.

Q4. How much is Tata Motors investing in its passenger vehicle business?
Tata Motors has announced a ₹35,000 crore investment for FY26–FY30 to fund new product launches, EV expansion, and export market growth.

Q5. What is Tata Motors' market share target for FY2029?
The company is targeting a 20% market share in India’s PV segment by FY2029, driven by premium SUVs and electric vehicles.

Q6. How is Tata Motors performing financially in the passenger vehicle segment?
In FY2025, Tata Motors' PV business reported an EBITDA of ₹3,400 crore with a 6.9% margin, while its EV division turned EBITDA-positive at 6.5% in Q4 FY25.