Tata Motors’ share price slumped in the red at open on Tuesday after the long weekend as the company’s sales figures for September came in weak.

What Happened: The Tata Group company sold a total of  2,43,024 vehicles in the September quarter, marginally lower compared to 2,43,387 units sold during the same quarter last year. The company’s domestic sales for the quarter were marginally higher at 2.37 lakh units as compared to 2.36 lakh units it sold last year.

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The auto giant’s domestic sales for the month of September stood at 82,023, up 2% from the 80,633 units sold in September 2022. This was largely supported by the jump in commercial vehicle sales. Commercial vehicles (CV) sales stood at 39,064 units up 12% from the 34,890 units sold in last year’s September.

Passenger vehicle sales, on the other hand, went down 6% to 44,809 last month compared to 47,654 units sold in September 2022. EV sales jumped 57% year-on-year last month to 6,050 units. The company said that it expects “stepped-up volumes in this festive season and beyond.”

Price Action: Tata Motors’ share price was down 0.41% to trade at ₹627.60 as the markets opened on Tuesday.

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