Tata Motors Passenger Vehicles Limited (TMPVL) is entering the next phase of growth with a robust product pipeline, strong demand traction, and sustained leadership in the electric vehicle (EV) space, according to Shailesh Chandra, Managing Director & CEO.
Beyond the much-anticipated Sierra, Tata Motors is lining up an extensive series of portfolio interventions aimed at sustaining market momentum. These include model-year refreshes, mid-cycle enhancements across existing nameplates, and a steady stream of new launches. Electric vehicles remain a key pillar of this strategy, with the Punch EV set for an imminent launch, followed by the Sierra EV. The company indicated that additional launches and enhancements will be unveiled progressively, reinforcing its commitment to keeping the portfolio fresh and competitive across segments.
The Indian passenger vehicle industry continues to show resilience, with Q4 FY26 expected to clock growth of around 13–14%. Tata Motors, however, is significantly outperforming the market. While the industry recorded approximately 14% growth in the first month of Q4, Tata Motors delivered a standout growth of nearly 46%. For the full fiscal year FY26, industry growth is estimated at 8–9%, whereas Tata Motors expects to deliver mid-teen growth, translating into sustained double-digit, industry-leading performance, he said at the latest conference call with analysts.
On pricing, the company clarified that it did not implement any price hikes in January. However, a calibrated increase is planned for February, with details to be announced closer to implementation. This measured approach reflects Tata Motors’ focus on balancing cost pressures while maintaining demand momentum.
The personal vehicle industry recorded its highest-ever quarterly offtake of nearly 1.3 million units in Q3, driven by festive demand and the positive impact of GST 2.0. The post-GST period has seen strong double-digit growth, averaging around 20% year-on-year during the quarter. With retail sales significantly outpacing wholesales, OEMs also witnessed a meaningful reduction in channel inventories, estimated at around 10–15 days. Growth remained broad-based, with compact SUVs, sub-compact SUVs, and mid-size SUVs emerging as key outperformers.
The EV segment continued its sharp upward trajectory in FY26, posting 76% year-on-year growth in Q3. This surge has been driven by new launches and increasing consumer confidence in electric mobility. Tata Motors capitalised on this momentum, achieving its highest-ever EV retails in Q3, including over 10,000 units sold in December alone. The company exited December with an EV market share of approximately 46%, underlining its leadership in the segment.
Tata Motors Passenger Vehicles delivered its best-ever quarterly performance in Q3, with wholesales of 1.71 lakh units and retail sales crossing the 2 lakh mark for the first time, marking a growth of over 22% year-on-year. The momentum extended into January 2026, when the company recorded its highest-ever monthly sales of 71,000 units, a 47% year-on-year increase.
Among individual models, the Nexon emerged as a standout performer, with demand exceeding 63,000 units in Q3, making it the highest-selling model in India during the period. The Punch also featured among the top three SUVs, benefiting from strong post-GST demand momentum.