Tata Motors Shares Drop After Disappointing Monthly Auto Sales

The monthly auto sales data for the previously concluded month is declared on the 1st of the new month. The auto sales for the previous month were declared on September 1.

Tata Declares Auto Numbers

One of the largest automakers in the country, Tata Motors, returned with disappointing results. The Mumbai-based company's auto sales numbers also impacted its stock prices, which dropped in the intraday trade on Monday, September 2.

Tata Motors' cumulative commercial vehicle sale stood at 27,207 units in August 2024, compared to 32,077 units in August 2023. Thereby exhibiting a mammoth 15 per cent decline in year-on-year growth, as per the company's exchange filing.

Slump In PVs, CVs Sales

When it comes to CVs, the only silver lining that the company had was with the sales of passenger carriers, which saw a 14 per cent rise in their sales. Tata Motors sold a total of 3,410 units in August 2024, compared to 2,986 units in 2023.

When we come to the all-important passenger vehicle or PV segment. The story is no different, as Tata Motors saw their sales plummet by 3 per cent. The sale of passenger vehicles stood at 44,486 units in August 2024, compared to 45,933 in August 2023.

Company Shares Dip As Well

As a result of this, the company shares notably suffered. Tata Motors shares dropped by over 1 per cent in the day's trade. At 11:43 IST, the company shares dropped by 1.68 per cent or Rs 18.65. This took the overall decline in the stock price to Rs 1,092.70 a piece.  

It is to be noted that the company's shares have not had the best month either. In fact, in the past month, the company shares only lost their value, declining by 0.47 per cent.