18-07-2025
- Automotive
- Business Upturn
Popular Vehicles and Services sees growth in CV and luxury segments in Q1 FY26, despite overall muted performance
By Aditya Bhagchandani Published on July 18, 2025, 15:14 IST
Popular Vehicles and Services Ltd (PVSL) reported its Q1 FY26 business update, highlighting growth in its commercial vehicle (CV) and luxury car segments, even as overall revenue grew just 1% year-on-year (YoY). Segment-wise performance The luxury car segment surged ~40% YoY, reflecting robust demand in the premium market.
The commercial vehicle (CV) segment posted a ~4% YoY increase.
The passenger vehicle (PV) segment excluding luxury saw a ~7% YoY decline.
Electric vehicles (EV) and spare parts distribution grew by ~15% YoY.
Total vehicles sold during the quarter dropped marginally by ~1% YoY. Expansion initiatives
PVSL secured several Letters of Intent (LOIs) to expand its footprint: Ather facility in Chennai, Tamil Nadu (expected to launch by September 2025).
Maruti Suzuki True Value outlet in Bengaluru, Karnataka (launch by August 2025).
Eight new BharatBenz 3S facilities in Punjab. Awards and recognitions
PVSL subsidiaries won awards from Jaguar Land Rover, Maruti Suzuki, and Tata Motors for excellence in retail, service, and spare parts growth. Outlook
Pre-festive demand trends appear encouraging, particularly in luxury and EV segments, while inventory build-up reflects readiness for the festive season.
Disclaimer: The statements, data, and quotes in this article are entirely based on the company's regulatory filing and business update document. Business Upturn or the author is not liable for the accuracy or interpretation of the information provided.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
