New Delhi, June 23 -- Tata Motors Passenger Vehicle Ltd and Tata Motors Ltd have set ambitious market share goals, with the passenger vehicle business aiming for a 20% share by 2030-31 and the commercial vehicle unit targeting 40% by 2027-28.

Tata Motors PV, during its investor day on Tuesday, revealed a 26-model product offensive for the domestic market, including six new nameplates, as it aims to nearly double its sales to more than 1.2 million units by FY31 to reach 20% market share by FY31.The PV business is also looking to tap new export markets after gaining a foothold in countries such as South Africa, Sri Lanka, Nepal, Bhutan and Mauritius.

The CV business, meanwhile, stopped short of sharing a long-term outlook and instead outl...