India is on track to exceed the 50 lakh sales mark in passenger vehicles over the next five years and Tata Motors is well placed to strengthen its market position and tap into this growth opportunity, according to Tata group chairman N. Chandrasekaran.

Chandrasekaran made these observations in the company’s annual report for 2024-25. Tata Motors’ India automotive business is now debt-free and the company is on track to make JLR debt‑free in 2024-25, he added.

While passenger vehicle sales in volume terms stood at 41 lakh last year, Chandrasekaran said that despite being the second largest market in the world, the country is well behind China, which is six times our market size.

Further, India’s vehicle penetration, at about 30 vehicles per 1,000 population, is well below global norms. This is expected to increase and Tata Motors will tap into the growth potential.

The Tata group chief disclosed that over the next phase, Tata Motors’ PV business will focus on market beating growth, improving EBITDA (earnings before interest, taxes, depreciation & amortisation), positive free cash flows, enhanced customer experience, technology, and brand leadership.

“The competitive intensity in this portfolio will remain high and the business will continue to invest in products, platforms, electrical & electronic architecture, and vehicle software.

“The business will also focus on significantly improving customer experience and enhancing product quality. The electric vehicle (EV) business will focus on driving up penetration through multiple product launches, focus on market development, charging network enhancements and continuing to introduce aspirational product features,’’ he added.

On JLR, he said it will continue to double down on its journey to become a premium luxury OEM, deliver strong revenue growth, improve profitability, drive positive free cash flows, focus on enhanced customer love and continue to invest in products and technologies.

Chandrasekaran disclosed that it has an exciting range of products in the pipeline which will be launched over the next three years.

While the first electric Range Rover will be launched later this year, there are more EVs lined up in the coming years including the all-electric Jaguar.