Tata Motors tumble 6% after 4% decline in December sales
BT Online January 4, 2016
Shares of Tata Motors tumbled over 6 per cent after the auto major reported 4 per cent decline in sales at 39,973 units for December compared to 41,734 vehicles in December 2014.
The stock hit an intraday low of Rs 376.50, down 6.26 per cent on the Bombay Stock Exchange (BSE).
Domestic sales of Tata Motors' commercial and passenger vehicles declined by 6 per cent at 35,416 units during the month as against 37,776 units sold in December, 2014.
Sales of passenger vehicles in the domestic market in December this year stood at 8,069 units as against 12,040 units in the same month previous year, down 33 per cent, Tata Motors said in a statement.
As for passenger cars, the sales were 31 per cent lower at 6,900 units in December, as compared to 9,956 units in same period of 2014.
Utility vehicle sales declined by 44 per cent during the last month to 1,169 units, compared to the year-ago period.
In the commercial vehicles segment, the domestic sales stood at 27,347 units, up 6 per cent over December 2014, the company said.
Exports during the month stood at 4,557 units as compared to 3,958 units in December 2014, up 15 per cent.