Tata Motors dips post Dec global sales numbers

Tata Motors has dipped over 2% at Rs 324 after the company said that its global sales in December 2012 declined by 13.88% to 98,968 units against 114,920 units sold during the corresponding month in 2011.

The sales of Jaguar Land Rover (JLR) however, went up by 4% year-on-year (yoy) to 32,282 vehicles in the month of December 2012. Jaguar sales up 15% yoy to 5,444 units while Land Rover sales were up 2% yoy to 26,838 units.

“The company showed a muted performance in global sales in the month of December 2012, dragged by poor performance in domestic market,” analyst at IndiaNivesh Securities said in report.

The stock opened at Rs 330 and hit a low of Rs 323 on the NSE. A combined 4.85 million shares have changed hands on the counter so far on both the exchanges.