Tata Motors targets 1 million annual sales by FY30

Tata Motors, the country’s third-largest car maker, has set a long-term target of achieving 1 million units in annual sales by FY30. The maker of Punch and Nexon SUVs has asked its supplier partners to be ready for sustained growth in the future, and assured them it will strive to consistently outpace the market and enter new segments.

Going by the target, Tata Motors is looking to grow almost 50% faster than the market. On the base of 5.82 lakh unit sales in FY24, one million unit sales by FY30 implies a CAGR of 9.44%. During the same period, ...