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Tata Motors to Launch Six All-New Nameplates - 20+ Launches by FY2031
Tata Motors aims to achieve 18-20 per cent market share by FY2031 Plans to launch over 20 products, including six new nameplates in the next 5 years
Tata Motors is getting aggressive with its product strategy for the Indian market. The company is aiming o achieve 18-20% market share in the Indian passenger vehicle segment by FY31. To achieve this target, Tata will introduce over 20 products, including six all-new nameplates in the next 5 years.
At the investor summit, Tata Motors reveals that it will expand its product lineup from nine nameplates to 15 by FY31. The company aims to introduce new models, facelifts and powertrain additions to achieve double-digit growth. Tata plans to achieve annual passenger vehicle sales of more than 1.2 million units by FY31, up from the current 6.4 lakh units.
The brand’s product plan includes introduction of six new nameplates and more than 20 interventions across the portfolio, The company will introduce refreshes and lifecycle upgrades along with feature upgradations and new derivatives. Tata Motors believes that Alternative fuels are likely to account for a large part of the projected growth. Its EV range is expected to contribute around 15-20% of the total sales by FY31. The company aims to introduce 4 new EV nameplates in the market in next 5 years.
Tata also expects CNG to contribute heavily to its growth. The EVs and CNG vehicles are projected to account for close to 45% of the brand’s passenger vehicle sales by FY31. Tata Motors is aiming to increase annual manufacturing capacity from around 9 lakh units to 1.3 million units over the next two to three years. The company will invest around Rs 40,000 crore over the next 2-3 years to achieve this target.
Tata Motors will also introduce six new nameplates to its ICE portfolio. The AVINYA nameplate could also receive an ICE derivative in near future. Moreover, the Tata SUMO nameplate could return as a seven-seater MPV in the market. The homegrown automaker is also developing a new sub-4 meter SUV, codenamed Scarlet, which will be marketed as a lifestyle vehicle. It will take on the likes of the Renault Bridger and the Mahindra Vision S.
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Amit Sharma
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Amit is responsible for the content creation on the Carlelo website with an objective to serve the online visitors to the best of his abilities. He has a vast experience of over 12 years in motoring journalism and has worked with multiple automotive brands including CarDekho, IndiaCarNews and Zee Network (India.com Auto)
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