Tata Motors Revenue Breakup 2025 – How do they Make Money?
Tata motors is not just India’s leading carmaker but its backbone of the country's transport ecosystem. From trucks on highways to EVs in cities; Tata Motors operates across multiple vehicle segments, each contributing uniquely to its revenue.
Tata Motors achieved a record breaking performance in 2024, generating consolidated revenue of approx. ₹4.37 trillion with a net profit of ₹31,807 crores. But here’s the real question: Which segment brings in the most money for TATA Motors?
It has built a diversified revenue model that spans multiple segments and geographies. With a market capitalization of over ₹2.53 trillion, the company has established itself as the major player in both domestic and international markets. Let's dive deep into how Tata Motors generates its revenue and what drives its profitability.
Breaking Down Tata Motors Revenue Engine
TATA Motors operates in multiple vehicle categories, but all of them contribute equally to its bottom line. Here’s a segment-wise breakdown of how TATA Motors generates its revenue :-
| Segments | Revenue in 2025 |
| Jaguar Land Rover (JLR) | ₹3,32,137 crore (est.) |
| Heavy & Medium Commercial Vehicles | ₹40,414 crore |
| Light Commercial Vehicles | ₹6,554 crore |
| Passenger Cars | ₹5,044 crore |
| Utility Vehicles | ₹28,923 crore |
1. Jaguar Land Rover (JLR)
JLR is the most significant revenue generator of Tata Motors. This luxury automotive brand, acquired by Tata Motors in 2008 for $2.3 billion during the Great Recession, has become the cornerstone of the company's global presence. In 2024 it contributes almost 69% of total consolidated revenue which is approx ₹3,02,825 crore of TATA Motors which has been further increased to 71%. Let’s see how JLR makes money :-
- Premium Vehicles Sales : Jaguar focuses on luxury sedans, sports cars, and electric vehicles, while Land Rover specializes in premium SUVs including iconic Range Rover series.
- Global Market Presence : Strong sales in key markets including the UK, Europe, North America, and China.
- High Margin Products : Luxury Vehicles command premium pricing, contributing to higher profit margins.
- After-Sale Services : Extended warranties, maintenance packages, and genuine part sales.
2. Heavy and Medium Commercial Vehicles
The backbone of Tata Motors success lies in its Commercial vehicle division. It is a dominant player with 94% dependence on the Indian Market. This segment includes :
Image generated with - Gemini
- Cargo trucks are general-purpose vehicles designed to carry a wide variety of freight, from small packages to large machinery.
- Tippers (Dump Truck) are designed to transport loose materials like sand, gravel, and construction debris.
- Long-distance haulers are typically large trucks, often semi-trucks with trailers, that are used for transporting goods over long distances, sometimes across state lines or even internationally.
- Intercity buses are designed to carry passengers between cities, often on a scheduled route with multiple stops.
These vehicles are used by industries like infrastructure, construction, mining, logistics and public transports. In 2024 it generated revenue about ₹43,666 crore which was reduced to ₹40,414 crore in 2025, due to higher interest rates, rising fuel costs, and moderation in freight demand
3. Light Commercial Vehicles
This segment includes popular models like Tata Ace, Yodha, and other small pickups used for last-mile delivery and intra-city transport. It represents the fastest-growing segment, driven by the e-commerce boom and urban logistics needs. This segment includes :
- Pickup Trucks used by Small businesses, agriculture and urban delivery.
- Mini Trucks used for Last-mile delivery, especially for e-commerce.
- Small Goods Carriers used for Local transportation and small-scale logistics.
- Electric LCVs are the growing segment for urban delivery and pollution-free logistics.
In 2024 revenue from Small Commercial Vehicles (SCV) & Pickups in India was ₹7,203 crore while in 2025 it decreased to ₹6,554 crore, due to slower rural demand and tough loan conditions for small buyers.
4. Passenger Cars
Tata Motor’s passenger car segment targets the growing Indian Middle class and urban consumers seeking personal mobility solutions. Tata Motors has made a strong comeback in the passenger car market. Let’s understand its product portfolio :
- Small Cars, these are affordable cars for new buyers like Tiago.
- Family Cars, these are bigger cars for families which are under their budget like Tigor.
- Premium Cars, these are expensive cars with luxury features.
- Electric Cars, these are battery powered cars like Nexon EV.
- Smart Cars, these are the cars with touchscreen and internet features.
The net revenue specifically from Passenger Cars in 2024 was ₹7,549 crore which is approx. 1.72% of Tata motor’s Total consolidated revenue which in 2025 became ₹5,044 crore i.e. approx. 1.15% of its total revenue. It’s mainly due to weaker demand, rising competition, and Tata’s shift toward EVs and premium segments.
5. Utility Vehicles
Utility Vehicles have emerged as Tata Motors fastest-growing and most profitable passenger vehicle category, capitalizing on India’s SUV boom. This vehicle range caters to both personal and fleet buyers. This includes Vans, MPVs and Specialized people movers. It’s key revenue generators are :
Image generated from - Gemini
- Compact SUVs that target young urban professionals.
- Electric SUVs that lead the electric SUV market in India.
- Adventure Vehicles are basically for outdoor enthusiasts.
The net revenue specifically from Utility Vehicles in 2024 was ₹27,362 crore which is about 6.25% of Tata Motors total consolidated revenue which increased in 2025 and became ₹28,923 crore i.e. about 6.58% of its total revenue.
Segment-wise revenue Contribution :-
Image generated with - ChatGpt
Tata Motor’s Move Towards Electric Vehicles
Tata Motors is leading India’s shift towards electric vehicles (EVs). Through its EV arm, Tata Passenger Electric Mobility Ltd., the company is investing big in clean and green transport. It plans to launch 10 new electric cars by 2026. Let’s see how its making it happen:-
- Popular EVs - Tata’s Nexon EV, Tigor EV are already big hits. The company holds over 70% of India’s EV market.
- Charging Support - Tata is working with Tata Power to build more Charging Stations across the country, making it easier to own and drive an EV.
- Made in India - Tata is focusing on Local manufacturing, using Indian parts and building batteries here to make EVs more affordable.
Also, Check - Google Revenue Breakup 2025
Ending Words
Tata Motors makes money through five main revenue streams: luxury cars, heavy trucks, medium trucks, light commercial vehicles, regular passenger cars, and SUVs. This mix helps Tata Motors earn money from both luxury buyers globally and regular customers in India, making it one of the country's largest automotive companies.
Despite short-term fluctuations in some segments like LCVs and passenger cars, the company's strategic focus on electric vehicles, SUV-led growth, and premium innovation sets the tone for long-term expansion. Whether it’s a Range Rover in London or a Tata Ace in Lucknow, Tata Motors has a product on the road and revenue flowing in.
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