TL;DR
Tata Motors' passenger EV business holds a strong 39% market share in H1 FY26, with overall EV sales up 27%, despite a dip from last year and JLR's cyber incident impact.
Tata Motors Passenger Vehicles Limited (TMPVL) has reaffirmed its strong market position, maintaining a healthy market share of approximately 39% in the electric vehicle (EV) business during the first half of fiscal year 2026. While this figure reflects a moderation from the 65% in the corresponding period of fiscal 2025, the company's market share in the second quarter of the current fiscal improved to 41.4% from 36.7% in the previous quarter, indicating resilience in a competitive landscape.
The domestic passenger vehicle (PV) business also demonstrated healthy wholesale volumes of 2.7 lakh units in the first half of fiscal 2026. Notably, EV sales for TMPVL increased by 27% to 41,000 units over the same period, underscoring the growing demand for electric vehicles and Tata's early-mover advantage in the segment.
Despite a cyber incident impacting JLR (Jaguar Land Rover) in the second quarter of fiscal 2026, which temporarily disrupted production and led to a decline in sales volume, TMPVL's overall PV business margin is expected to remain largely stable in fiscal 2026. The company's focus on cost reduction, new product launches, and a rising mix of EVs are key factors in sustaining its margins and market share.
