Tata's passenger vehicle arm grows 35% in first year after demerger, targets 12 lakh units a year by FY31

Our read

Tata Motors Passenger Vehicles will more likely than not keep growing faster than the market, but its EV lead will be contested and the 20% share target looks stretched.

For operators

Tata Motors Passenger Vehicles sold 7.44 lakh domestic units in its first year after demerger, 35% growth and a 14.1% share, and plans to triple its service network, so dealers and auto retailers should expect tougher competition for service customers and skilled staff.

Watch

Domestic share above the 14.1% reported, in the next quarterly results, would mean demerger-year gains are holding and rivals' discounts are not pulling buyers back.