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.
Category | July 2024 | July 2023 | % Change (Y-o-Y) |
---|---|---|---|
Total Sales | 71,996 | 80,633 | -11% |
Total Domestic Sales | 70,161 | 78,844 | -11% |
CV Domestic | 25,436 | 31,216 | -19% |
CV IB | 1,606 | 1,728 | -7% |
Total CV | 27,042 | 32,944 | -18% |
Total PV Domestic (includes EV) | 44,725 | 47,628 | -6% |
PV IB | 229 | 61 | 275% |
Total PV (includes EV) | 44,954 | 47,689 | -6% |
EV (IB + Domestic) | 5,027 | 6,329 | -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.
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