Tata Motors PV shares tumble over 3% as JLR Q3 volumes slump after massive cyber attack

Shares of Tata Motors Passenger Vehicles fell 3.5% to an intraday low of Rs 360.25 on the BSE on Tuesday, January 6, after its luxury arm Jaguar Land Rover (JLR) reported a sharp year-on-year decline in wholesale and retail volumes for the third quarter of FY26, impacted by a cyber incident last year, one of biggest high-profile cases attacks.

JLR reported wholesale volumes of 59,200 units in Q3FY26, a steep decline of 43.3% compared with the same period last year. Retail sales for the quarter stood at 79,600 units, down 25.1% year-on-year. The company said volumes were adversely affected as production only returned to normal levels by mid-November following the cyber incident, with additional time required to distribute vehicles globally after production resumed.

The automaker noted that both wholesale and retail volumes declined on a quarter-on-quarter as well as year-on-year basis due to these operational challenges. The impact was further compounded by the ongoing planned wind-down of legacy Jaguar models ahead of the launch of the new Jaguar range, which continued to weigh on volumes through the quarter, in line with expectations.


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Additionally, JLR highlighted that incremental US tariffs affecting exports to the US market also contributed to the pressure on volumes during the quarter.

Despite the overall volume decline, the company saw an improvement in its product mix. Higher-margin models — Range Rover, Range Rover Sport and Defender — accounted for 74.3% of total wholesale volumes in Q3FY26. This compares with 70.3% in the year-ago period, though it was lower than the 76.7% contribution seen in the previous quarter.

JLR said it is reporting its wholesale and retail sales for the three months ended December 31, 2025, and reiterated that the operational disruptions were largely timing-related.

JLR is scheduled to report its full financial results for the third quarter of FY26 in February 2026.

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