Tata Motors Global Wholesales Drop 9% YoY in Q1 FY26 Amid Broad-Based Decline in PV and CV Segments
By Shishta Dutta | Published at: Jul 8, 2025 06:33 PM IST
Mumbai, July 8, 2025 — Tata Motors Ltd (NSE: TATAMOTORS) said that global wholesales fell 9% year over year in Q1 FY26. This included shipments of Jaguar Land Rover (JLR) and other vehicles, which totaled 2,99,664 units compared to last year. The dip was across the board: Passenger Vehicle wholesales declined 10% year over year to 1,24,809 units, while Commercial Vehicle volumes fell 6% to 87,569 units.
JLR’s wholesale volumes fell 10.7% to 87,286 units since new tariffs stopped exports to the U.S. and old Jaguar models were phased out. Even though sales slowed down, JLR improved its product mix. In the first quarter, Range Rover, Range Rover Sport, and Defender models made up 77.2% of all sales. The results came after JLR cut its FY26 EBIT margin projection from 10% to 5–7% because of investments in electric vehicles, changes in models, and the effects of tariffs.
Key Wholesale Volumes – Q1 FY26 vs Q1 FY25
| Segment | Q1 FY26 Units | YoY Change |
|---|---|---|
| Total Global Wholesales | 2,99,664 | -9% |
| Commercial Vehicles (CVs) + Daewoo | 87,569 | -6% |
| Passenger Vehicles (PVs)* | 1,24,809 | -10% |
| Jaguar Land Rover (Total)** | 87,286 | -11% |
| — Jaguar | 2,339 | N/A |
| — Land Rover | 84,947 | N/A |
* Includes electric vehicle (EV) sales
** Excludes CJLR (Chery Jaguar Land Rover JV) volumes
Segment-Wise Highlights
- Commercial Vehicles (CVs): The CV segment, including Tata Daewoo, registered 87,569 units in Q1 FY26, down 6% YoY. The decline hints at muted freight movement and slower capex revival in key domestic and export markets.
- Passenger Vehicles (PVs): PV wholesales were 1,24,809 units in the quarter, dropping 10% YoY. Tata’s EV portfolio is included in this segment, though specific EV figures weren’t disclosed.
- Jaguar Land Rover: JLR saw total global wholesales fall 11% to 87,286 units. Within this, Jaguar contributed just 2,339 units, while Land Rover accounted for 84,947 units, highlighting strong consumer preference for the SUV-focused Land Rover brand.
Strategic Context
The drop in JLR volumes is still due to supply-side problems and demand that isn’t the same in all areas. Tata Motors has been working to increase the number of electric vehicles it makes and balance its exports in light of the uncertain global economy.
About the Company
Tata Motors Limited is a leading global automobile manufacturer, listed on the NSE and BSE, with a broad portfolio in cars, utility vehicles, buses, trucks, and defence vehicles. Its key subsidiaries include Tata Daewoo (South Korea) and Jaguar Land Rover (UK), making it one of the most diversified automotive players in the world.
REF:https://nsearchives.nseindia.com/corporate/TATAMOTORSSJS_08072025161402_NSEBSEGLOBAL.pdf
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