NEW DELHI — Tata Motors aims to sell more than 1 million commercial vehicles annually in the coming years as it prepares to integrate Italy’s Iveco Group, Chairman N. Chandrasekaran said Monday.
Addressing shareholders at the company’s second annual general meeting since its commercial vehicle business was demerged and separately listed, Chandrasekaran said the proposed Iveco acquisition would accelerate Tata Motors’ global expansion.
“Together we will be in the range of 6 lakh vehicles to start and easily see us crossing 1 million vehicles in the years to come,” he said.
The combined business is expected to begin with annual sales of about 600,000 commercial vehicles, placing Tata Motors among the world’s four largest commercial vehicle manufacturers.
The acquisition remains subject to regulatory approvals and is expected to close during the second quarter of the current financial year.
Chandrasekaran said the transaction would give Tata Motors access to advanced powertrain and next-generation technologies, strengthen its manufacturing capabilities and product portfolio, and substantially expand its international presence.
“We will optimise, scale and grow to be ranked amongst the top four commercial vehicle entities globally,” he added.
The expansion follows Tata Motors Commercial Vehicles’ strongest financial performance since becoming an independently listed company after the November 2025 demerger.
The company is also seeking to reduce its dependence on the cyclical truck market by expanding higher-margin and more stable businesses. Revenue from non-cyclical operations, including spare parts and services, grew 18.2 percent during fiscal 2026.
International operations increased by more than 50 percent during the year, supported by stronger market penetration and major order wins. (Source: IANS)
