Tata Motors PV shares slump nearly 4% as JLR wholesale volume falls 43% YoY, retail sales down 25%

The stock was trading at ₹366.15 per equity share, down by 1.98% as of 11:07 am.

The scrip has risen more than 1% in the last week and nearly 4% over the month. On a year-to-date basis, however, it declined about 0.2%.

While the share reached a 52-week low of ₹337.70 on December 18, 2025, it touched a year’s high of ₹810 per unit on January 9, 2025.

JLR Q3FY26 wholesale and retail sales

JLR sales for the December quarter of the 2025-26 financial year were impacted by the cyber incident, with the firm posting a 43.3% year-on-year (YoY) decline in wholesale volume to 59,200 units, excluding Chery Jaguar Land Rover China JV (CJLR), during the period under review. Its wholesale sales fell 10.6% compared to the previous quarter.

Its wholesale volumes for the third quarter of FY26 slumped in all markets, including the UK (-0.9% YoY), North America (-64.4%), Europe (-47.6%), China (-46%), the Middle East and North Africa (MENA) (-8.5%) and overseas (-50.4%).

From its overall Range Rover mix, the Range Rover Sport and Defender models comprised 74.3% of the total wholesale volume, as against 70.3% in the year-ago period and 74.3% in Q2 FY26, it said in a regulatory filing late on January 5.

Its wholesale volume for FY26 (till date) stood at 2,12,600, marking a 26.6% annual slump from the 2024-25 fiscal year (FY25).

On the retail end, its sales slipped 25.1% YoY to 79,600 units (including CJLR) during the reporting period. The retail sales were down 6.7% sequentially.

Its retail volumes dropped annually in Q3FY26 across all its markets, comprising the UK (-13.3%), North America (-37.7%), Europe (-26.9%), China (-18.4%), MENA (-18.7%) and overseas (-14.1%)

JLR’s retail volumes for FY26 to date were at 2,59,400 units, reflecting a 19.1% YoY decline.

The company stated that its wholesale and retail volumes dropped on a quarter-on-quarter and an annual basis, as production returned to normal levels only by mid-November following the cyber incident. Furthermore, the volumes were also impacted by the time required to distribute vehicles globally after they were produced.

It added that the planned wind-down of legacy Jaguar models ahead of the launch of the new Jaguar, and incremental US tariffs impacting JLR’s US exports, continued to affect its volumes.

JLR will report its December quarter results for FY26 in February 2026, the company further noted.

TMPV has a total market capitalisation of ₹1.35 lakh crore, as of January 6, 2026, according to data on the NSE.