Tata Motors PV Q1: Production of Punch and Nexon Surges 47%; Curvv and Sierra Volumes Nearly Triple

Tata Motors Passenger Vehicles Ltd, a leading company in the commercial vehicle sector, announced on Monday (July 6) a rise in production and domestic sales for most of its passenger vehicle lineup during the April-June 2026 quarter, based on data provided to the Society of Indian Automobile Manufacturers (SIAM).

In the April-June 2026 quarter, production of the Punch and Nexon increased to 117,711 units, up from 80,001 units the previous year. Domestic sales for these models grew to 115,882 units from 76,230 units, while exports totaled 317 units compared to 320 units last year.

The production of the Curvv and Sierra saw an increase to 25,790 units from 9,135 units in the same quarter last year. Domestic sales rose to 25,150 units from 8,272 units, but exports fell to 23 units from 101 units.

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Production numbers for the Safari, Harrier, and Sumo models jumped to 11,976 units from 6,488 units. Domestic sales increased to 12,117 units from 6,536 units, and exports rose to 30 units from just one unit in the previous year.

Production of the Tiago, Tigor, Altroz, Zest, and Bolt models dropped to 30,163 units from 35,496 units. Domestic sales fell to 27,017 units from 32,801 units, although exports climbed to 2,038 units from 548 units.

No production, domestic sales, or exports occurred for the Nano and Hexa in either comparison quarter. The company noted that these figures have not undergone independent verification or auditing, with final audited numbers subject to change.

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Last week, brokerage firm Citi retained its “sell” rating on the stock, despite positive sentiments regarding the recent Sierra EV launch. This rating comes with a price target of ₹320 per share, suggesting a downside of 9% from its last closing price.

According to Citi, the new Sierra EV offers both 63 kWh and 75 kWh battery options, with the latter providing a range exceeding 500km. The peak power output is 175 kW, and it includes an additional 103 kW motor in a QWD configuration. Pricing starts between ₹18.8 lakh and ₹24.8 lakh, positioning it against M&M’s BE6, XEV 9E, and high-end Maruti e-Vitara.

Compared to the Hyundai Creta Electric and MG ZSEV, the pricing appears competitive, especially with entry-level variants being close to the higher-end trims of rivals, which could lead to increased trading upward, as noted by Citi.

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Tata Motors Passenger Vehicles Ltd shares closed at ₹346.95, reflecting an increase of ₹2.80, or 0.81%, on the BSE.