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Tata Motors passenger vehicles limited has projected industry-leading growth in FY27

ICICIdirect Research 17 Jun 2026 DISCLAIMER

News: In its latest annual report, Tata Motors passenger vehicles limited has projected industry-leading growth in FY27, driven by a strong pipeline of new vehicle launches, a multi-powertrain strategy covering ICE, EV, and CNG’s, and deeper operational collaboration with Jaguar Land Rover (JLR). Chairman N. Chandrasekaran highlighted that despite global geopolitical and supply chain uncertainties, TMPV remains confident due to rising consumer demand, expanding manufacturing capabilities, continued EV leadership with over 92,000 EV sales in FY26, and cumulative EV sales crossing 250,000 units.

View: Tata Motors’ FY27 outlook reflects how the company is positioning itself not just as India’s leading automaker but as a future-focused mobility company balancing traditional fuel vehicles with aggressive electric vehicle expansion. Its continued dominance in India’s EV segment and investments in technology, suggests Tata is building resilience against global economic uncertainty while strengthening long-term competitiveness. Recent monthly volume prints have been encouraging at TMPV with May’26 wholesale volume at ~59.7k units, up 42% YoY with highest ever EV sales at ~10.5k units. YTDFY27 sales volume stands at ~1.2 lakh units, up 36% YoY. 

Impact: Positive

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