Tata Motors dips after fall in September global sales

The company sold total 103,656 vehicles in September 2012 against 108,570 vehicles in the same month of previous year

Tata Motors is trading lower by 2% at Rs 264 after the company’s global vehicle sales, including that of Jaguar Land Rover (JLR), decline by 4.5% at 103,656 vehicles in September from the year-ago period. The country’s largest commercial vehicle manufacturer had sold 108,570 vehicles in the same month of previous year.

“However, the company’s Cumulative wholesales for the fiscal are 579,037, higher by 8%, compared to the corresponding period in 2011-12,” Tata Motors said in a press release.

The stock opened at Rs 265 and touched low of Rs 263 on the NSE. A combined 2.87 million shares have changed hands on the counter so far on both the exchanges.