New Delhi, June 29 (IANS) Leading automobile firm Tata Motors is targeting annual commercial vehicle (CV) sales of more than one million units in the coming years as it prepares to integrate Italy’s Iveco Group, Chairman N. Chandrasekaran said on Monday.
Addressing shareholders at the company’s second annual general meeting after the commercial vehicle business was demerged and separately listed, Chandrasekaran said the proposed acquisition of Iveco would significantly accelerate Tata Motors’ global ambitions.
“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.
Moreover, the combined business will begin with annual sales of around 600,000 commercial vehicles, positioning Tata Motors among the world’s four largest commercial vehicle manufacturers.
The acquisition — which is awaiting regulatory approvals — is expected to be completed by the second quarter of the current financial year.
The deal would provide Tata Motors access to advanced powertrain and next-generation technologies, strengthen its manufacturing and product portfolio, and significantly expand its international footprint, Chandrasekaran said.
“We will optimise, scale and grow to be ranked amongst the top four commercial vehicle entities globally,” he added.
The expansion plans come after Tata Motors Commercial Vehicles reported its strongest financial performance since becoming an independently listed company following the demerger in November 2025.
The company is also reducing its dependence on the cyclical truck business by expanding higher-margin and relatively stable revenue streams. Non-cyclical businesses, including spares and services, grew 18.2 per cent during FY26.
In addition, international operations grew over 50 per cent during FY26 due to stronger market penetration and large order wins.
–IANS
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