Tata Motors’ new passenger vehicle subsidiary giving strong competition to Mahindra and Hyundai for the second position in the Indian car market
Tata Motors Passenger Vehicles (TMPV), one of the country’s top automakers by volume, now has close to 15% market share. The company expects to cross this figure “very soon”, MD and CEO Shailesh Chandra said in a recent interview with PTI.
Chandra said that TMPV has seen nearly 40% year-on-year growth over the past year. The company has big expectations from its EV portfolio, which is the widest among all automakers in India. According to internal projections, the share of EVs in its sales should surpass 25% by the end of September 2026.
TMPV plans to continue to drive growth by not only filling white spaces with new products but also introducing faster updates for existing models. In the first nine months of the calendar year, the company has rolled out facelifts for the Punch, Punch.ev, Tiago, Tiago.ev, and Tigor (now called Aeris). A major update for Tigor.ev could also be in the pipeline before the end of the calendar year.
While TMPV aims to achieve a 15% market share very soon, its next target will take time. The company is eyeing a 20% market share by March 2031, as announced at its Investor Day 2026 event on 23 June. It is projecting the median new car selling price in the Indian market to grow from Rs. 11-12 lakh in FY2026 (April 2025-March 2026) to around Rs. 15 lakh in FY2031 (April 2030-March 2031).
It has been strengthening its presence in pricier vehicle segments accordingly, with more feature-rich configurations of models such as the Curvv, Sierra, Harrier, and Safari. The Curvv.ev, Sierra.ev, and Harrier.ev are priced well above Rs. 15 lakh right from the base trim.
TMPV expects CNG and electric cars to start accounting for over 45% of the annual industry volume by FY2031. The company has been expanding its portfolio with these powertrain choices accordingly. It has seven EVs on sale today, ranging from the Tiago.ev to the Harrier.ev, and it plans to launch a Safari.ev as its new flagship model soon.
Next year, it will launch the first EV under the new Avinya brand, which will be its ninth electric car. By FY2031, it aims to expand the line-up to 10 EVs priced from as low as Rs. 7 lakh to as high as over Rs. 30 lakh, covering hatchback, sedan, and SUV body styles. It will also roll out more than 10 refreshes and facelifts for its EV line-up by FY2031.
TMPV also offers five models in a CNG variant as an option and should expand the CNG range in the future. The company aims to grow its total sales from 6.4 lakh cars in FY2026 to over 1.2 million by FY2031. It will expand its car line-up from currently nine to 15 models by FY2031. We already know that two of the new cars will be the Safari.ev and the first Avinya EV, arriving later this year and in 2027, respectively.
A Renault Bridger rival codenamed ‘Scarlet’ and informally referred to as a mini-Sierra is rumoured to arrive in 2028, and that model should have an electric derivative marketed separately, expanding the portfolio to twelve models. There are also rumours of a three-row MPV, which may also have an electric derivative offered as a separate model. Another Avinya EV could round up the 15-model line-up aimed for by FY2031.