Tata Motors‘ share price was trading lower on Friday morning after the company posted its sales numbers for May.
What Happened: The Tata Group company sold a total of 74,973 vehicles in May down slightly compared to 76,210 units it sold during May 2022. The numbers were, however, higher than street estimates.
The 12% slump in sales volume of commercial vehicles, which fell to 28,989 from 32,818 in May 2022, caused the dip. Passenger vehicle sales, on the other hand, grew 6% year-over-year to 45,984 units.
Total domestic sales for the month were at 73,448 units down 2% from the 74,755 units it sold in the same month last year. Domestic sales of commercial vehicles came in at 27,570 units down 12% from the 31,414 vehicles it sold in May 2022. Passenger vehicles domestic sales stood at 45,878 up 6% from the 43,341 units sold in the year-ago period.
Exports grew 4.8% to 1,525 units this May as against 1,455 vehicles it sold during May 2022. The automobile giant’s EV sales stood at 5,805, up 66% YoY.
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Price Action: Tata Motors’ shares price was down 0.22% to trade at ₹534.05 as the markets opened on Friday.
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