Tata Motors is expected to see a moderation in its volumes in August, as per a Nuvama Institutional Equities note on Wednesday.
What Happened: In its preview note on the sector, the brokerage firm said that the Tata Group company will see both passenger vehicle and commercial vehicle volumes go down in August.
It expects total sales for the company to go down around 3.2% to 75,500, compared with 78,010 units sold last August.
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| Category | Aug-24E | Aug-23 | YoY (%) | Jul-24 | MoM (%) |
|---|---|---|---|---|---|
| Total CVs | 30,650 | 32,077 | -4.4 | 27,042 | 13.3 |
| Domestic PVs | 44,600 | 45,513 | -2.0 | 44,725 | -0.3 |
| Exports | 250 | 420 | -40.5 | 229 | 9.2 |
| Total PVs | 44,850 | 45,933 | -2.4 | 44,954 | -0.2 |
| Total | 75,500 | 78,010 | -3.2 | 71,996 | 4.9 |
As per Nuvama’s estimates, the company’s passenger vehicle sales will come in at 44,850 units, down around 2% compared to last August’s numbers.
The research firm said sales of passenger vehicles are expected to be muted across original equipment manufacturers as the festive season commenced early last year. The analysts see commercial vehicle volumes for Tata Motors going down around 4% year-on-year to 30,650 units.
Price Action: Tata Motors’ share price was down 0.12% to trade at ₹1,075.95 in early trade on Wednesday.
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