Tata Motors Shares Dip As July Sales Slip 10%, EV Volumes Down 21%
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Tata Motors shares tanked on Thursday after the company reported its sales for July.

What Happened: The company’s total sales for the month fell around 10.7% to 71,996 units from the 80,633 units sold in July 2023. Domestic sales also crashed around 11% year-on-year to 70,161 units. This is much lower than Nuvama’s estimates of around 79,500 units.

Total commercial vehicle sales tanked around 18% to 27,042 units, compared to the 32,944 units sold in the same month last year. Passenger vehicle sales also went down 6% to 44,725 units. Electric vehicle sales for the month came in at 5,027 units, down 21% from the 6,329 vehicles sold in July 2023.

CategoryJuly 2024July 2023% Change (Y-o-Y)
Total Sales71,99680,633-11%
Total Domestic Sales70,16178,844-11%
CV Domestic25,43631,216-19%
CV IB1,6061,728-7%
Total CV27,04232,944-18%
Total PV Domestic (includes EV)44,72547,628-6%
PV IB22961275%
Total PV (includes EV)44,95447,689-6%
EV (IB + Domestic)5,0276,329-21%

This consolidated table provides a detailed overview of Tata Motors Limited’s sales performance in July 2024 compared to July 2023 across domestic, international and different vehicle categories, including overall changes year-over-year.

The auto giant is scheduled to post its earnings for the quarter ended June later today. On average analysts estimate the company revenue to come in at ₹1.08 lakh with a net profit of ₹5,067 crore.

Price Action: Tata Motors’ share price was down 0.75% to trade at ₹1,147.95 in the early hours of trading on Thursday.

Read Next: Bajaj Auto Sees Total Sales Jump 11% In July, Shares In Green

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