Tata Motors CV Revival

At the company's recent annual general meeting, Tata Sons and Tata Motors chairman N Chandrasekaran acknowledged the issue directly.

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"An area where we need to deliver is the SCV segment which is severely underperforming. We need to improve our performance and market share and we are focused on addressing it this year," he told shareholders.

The problem, however, is not limited to Tata Motors alone. The SCV segment itself has contracted sharply over the years.

Once accounting for 23% of the total CV market in FY19, SCVs made up just 16% by FY25. Industry insiders point to several reasons for the slump, chief among them being the rise of electric three-wheelers, tighter financing norms, a tepid increase in freight rates, and the rising cost of SCVs.