Domestic passenger vehicle segment is expected to cross the 50 lakh-mark of annual sales over the next few years and Tata Motors is geared up to tap into this growth opportunity, according to Tata Group Chairman N Chandrasekaran. In a message to the company’s shareholders in Annual Report for 2023-24, Tata Group Chairman N Chandrasekaran stated, “India is well on track to exceed the 5 million vehicle sales mark in passenger vehicles over the next few years from the 4.1 million volumes clocked last year”.
Tata Motors is planning to focus on vehicle parc linked businesses, such as spares and digital mobility solutions, to reduce vehicle sales volatility. The brand will continue to invest in products and technologies to become a premium luxury OEM.
The first electric Range Rover will launch later this year, and there will be more electric vehicles in the coming years, including the all-electric Jaguar. To execute these strategies and empower each TATA business, the board has proposed the demerger of the company into two separate listed companies. The commercial vehicle business will be in one entity, while the passenger vehicle businesses, including PV, EV, and JLR, will be in another entity.
