Tata Motors drops after poor sales volume data

Tata Motors lost 2.34% at Rs 181.65 at 14:51 IST on BSE after global wholesales, including Jaguar Land Rover, dropped 22% to 79,923 units in April 2019 over April 2018.

The announcement was made during market hours today, 13 May 2019.

Meanwhile, the S&P BSE Sensex was down 218.72 points, or 0.58% to 37,244.27

On the BSE, 7.94 lakh shares were traded in the counter so far compared with average daily volumes of 17.23 lakh shares in the past two weeks. The stock had hit a high of Rs 186.90 and hit a low of Rs 180.80 so far during the day.

The Tata Motors Group global wholesales in April 2019, including Jaguar Land Rover, were at 79,923 units, lower by 22%, over April 2018. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in April 2019 were at 31 ,726 units, lower by 20%, over April 2018. Global wholesales of all passenger vehicles in April 2019 were at 48197 units, lower by 23%, compared to April 2018.

Global wholesales for Jaguar Land Rover were 35,451 vehicles (JLR number for April 2019 includes CJLR volumes of 3,332 units). Jaguar wholesales for the month were 13,301 vehicles, while Land Rover wholesales for the month were 22,150 vehicles. CJLR is a JV between JLR and Chery Automobiles and is an unconsolidated subsidiary for JLR.

Tata Motors reported consolidated net loss of Rs 26992.54 crore in Q3 December 2018 as compared to net profit of Rs 1198.63 crore in Q3 December 2017. Total income rose 4.37% to Rs 77582.71 crore in Q3 December 2018 over Q3 December 2017.

Tata Motors is a leading global automobile manufacturer of cars, utility vehicles, buses, trucks and defence vehicles.

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