Domestic sales increased 28% to 33,876 units from 26,432 a year earlier, while international volumes more than doubled, rising 128% to 5,765 units.
Nomura highlighted that Tata Motors’ management lowered its LCV industry outlook to flat in 2026 while MHCV demand remained unchanged at 5% year-on-year (YoY). Bus demand is likely to be slightly lower in the EU and South America.
The company maintained its top position in the European bus market and second overall with more than 25% market share. It expects a gradual recovery in profitability in the second half of the calendar year 2026, impacted by weak LCV demand and macro uncertainties offset by cost efficiency programs, Nomura noted.
Tata Motors CV can cross 1 million vehicles after Iveco deal: N Chandrasekaran at AGM
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The international brokerage believes that while weak LCV industry outlook remains a demand headwind, Iveco’s focus on cost efficiencies, low-cost sourcing advantages post TMCV integration, and new launches will support an earnings recovery over the next two years, which remains a key monitorable.
Tata Motors CV shares have gained more than 10% in a week and 5% in a month. The stock is overall up around 6% in 2026 so far.
Tata Motors CV share price
The company currently has a market capitalisation of nearly Rs 1.67 lakh crore.
Also read |Tata Motors CV bets on global expansion, EVs and digital businesses for next phase of growth
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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