New Delhi: Tata Motors Ltd reported a mixed performance in its commercial vehicle (CV) portfolio during the October–December 2025 quarter, reflecting uneven demand across sub-segments, according to data released by the Society of Indian Automobile Manufacturers (SIAM).
As per the SIAM report filed with stock exchanges, domestic sales and production varied across categories, with light commercial vehicles such as Ace and Intra recording year-on-year growth, while some small CV and entry-level bus categories saw softness during the quarter.
In the medium and heavy commercial vehicle (M&HCV) space, certain tipper and haulage segments posted higher volumes, aided by infrastructure activity and replacement demand, though others remained volatile. Bus sales showed divergence across sub-categories, with select fully built and chassis segments reporting gains, while volumes stayed muted in lower-capacity variants.
Exports continued to form a modest share of overall CV volumes, with incremental growth in a few categories but no broad-based recovery evident in overseas markets.
The SIAM data, which is unaudited and subject to revision, was disclosed by Tata Motors in compliance with SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015. Industry watchers view the Q3 numbers as indicative of cautious fleet operator sentiment amid fluctuating freight rates and input costs.
The performance comes at a time when CV makers are closely tracking government infrastructure spending, mining activity and logistics demand, which are expected to shape volume momentum in the final quarter of FY26.