Tata Motors CV November sales beat estimates with 29% growth

Tata Motors’ commercial vehicles (CV) division reported total sales of 35,539 units in November, comfortably beating the CNBC-TV18 poll estimate of 32,340 units.

The figure marks a 29% year-on-year rise from 27,636 units, signalling continued momentum in domestic demand. International business volumes also surged, rising 92% to 2,786 units from 1,453 units a year ago.

The strong print came in above expectations of a 16% growth, reflecting sustained traction in freight movement and infrastructure-linked

activity. Following the announcement, shares of Tata Motors Limited (TMCV) were trading 1.78% higher at ₹358.25 on Monday as of 2:44 PM.

Management commentary earlier in the month had indicated optimism for the remainder of FY26. Managing Director and CEO Girish Wagh said the business will align closely with India’s expanding road transport and infrastructure sectors, exploring opportunities in logistics and sustainable mobility.

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He added that strategic changes in recent years have delivered “strong margin growth, robust free cash flows, and high return on capital employed”, with profitable growth and global expansion remaining core priorities.

The sales update also comes shortly after Tata Motors’ CV business debuted as a separate listed entity on November 12, opening at ₹335 per share, a 28% premium to its pre-open price discovery level of ₹260.