Tata Motors Commercial Vehicles Posts Mixed Performance in Q3 FY26 as Exports Gain Momentum

Mumbai, January 6, 2026 Tata Motors Limited (NSE: TATAMOTORS, BSE: 500570) reported a mixed performance in its commercial vehicle business for the October to December 2025 quarter, with domestic volumes remaining selective across segments while exports recorded a broad-based improvement year on year.
The company’s quarterly performance reflects uneven domestic demand across light, intermediate, and heavy commercial vehicle categories, even as overseas shipments showed resilience in select platforms.

Q3 FY26 Commercial Vehicle Performance Overview​

During the quarter, Tata Motors recorded divergent trends across production, domestic sales, and exports depending on vehicle categories and sub-segments.

Production, Domestic Sales and Exports Comparison (Units)​

Production growth was largely supported by higher output in the N3 category covering tippers, haulage vehicles, and tractor-trailer combinations, reflecting improved fleet replacement activity and infrastructure-linked demand.

Segment-wise Trends​

In the light commercial vehicle space, the ACE and Intra range continued to anchor volumes, with production rising sharply compared to the year-ago quarter. Domestic sales in this segment tracked production closely, indicating stable last-mile and intra-city demand.
The medium bus segment remained under pressure, with a visible decline in both production and domestic sales. This contrasted with a modest recovery in certain heavy bus sub-categories, supported by chassis-led demand.
In the medium and heavy commercial vehicle segment, Tata Motors saw notable traction in multiple N3 tippers and haulage sub-segments. Categories such as N3-B1 and N3-A3 posted strong year-on-year volume growth, reflecting sustained activity in construction, mining, and logistics.

Export Performance Strengthens​

Exports emerged as a relative bright spot in the quarter. Several platforms, including ACE-based light commercial vehicles and selected heavy truck variants, recorded meaningful growth over the corresponding period last year. Tractor-trailer exports also improved in specific configurations, underscoring Tata Motors’ expanding international footprint in commercial mobility.

About the Company​

Tata Motors Limited is a leading Indian automobile manufacturer with a strong presence across passenger vehicles, commercial vehicles, and electric mobility solutions. The company is listed on both the National Stock Exchange and BSE and operates across domestic and international markets, serving customers in multiple geographies through a diversified product portfolio.

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