Tata Motors reported total commercial vehicle (CV) sales of 47,976 units in March 2026, registering a 17% year-on-year (YoY) increase compared to 41,122 units in the same month last year, even as growth moderated slightly amid geopolitical headwinds.

For the fourth quarter (Q4 FY26), the company posted sales of 1,32,465 units, up 25% YoY from 1,05,643 units in Q4 FY25, driven by a recovery in freight activity and improved demand conditions in the second half of the fiscal.

Across segments, heavy commercial vehicle (HCV) trucks grew 14% YoY in March to 14,614 units, while intermediate, light and medium commercial vehicle (ILMCV) trucks rose 16% to 8,337 units. Passenger carriers saw a sharp 31% jump to 7,983 units, and small commercial vehicles (SCV) cargo and pickups increased 17% to 14,891 units.

Domestic CV sales stood at 45,825 units in March, up 18% YoY, while international business (IB) volumes declined 4% to 2,151 units.

On a quarterly basis, domestic CV sales rose 26% YoY to 1,25,562 units, marking the highest quarterly volumes since Q4 FY21.

For the full financial year FY26, total CV sales grew 14% YoY to 4,28,329 units, compared to 3,76,903 units in FY25, reflecting broad-based growth across segments.

The company noted that the CV industry witnessed a subdued first half, followed by a strong recovery in H2, supported by improved demand conditions and policy measures such as GST 2.0 rollout.

However, March growth saw some moderation due to the ongoing conflict in West Asia, which impacted select sectors and operating conditions. The company said it is closely monitoring geopolitical developments and diesel price trends, while focusing on maintaining supply chain resilience and production continuity.

Electric vehicle volumes grew 59% YoY during FY26, highlighting continued traction in the electrification space.

Looking ahead, the company remains cautiously optimistic, backed by a refreshed product portfolio and sustained focus on customer-centric mobility solutions.