Tata Motors‘ share price was in the red on Monday morning as the company’s sales numbers for August missed analysts’ estimates. The stock went down around 2% to hit an intraday low of ₹1,088.55.
What Happened: The Tata Group company saw its total sales dip around 8% in August to 71,693 units, compared to 78,010 units in the same month last year. Total domestic sales dropped by 8% to 70,006 units from 76,261 units in August 2023.
The numbers were lower than Nuvama’s estimates. The brokerage expected the company’s sales to dip around 3.2% to 75,500 units. The numbers were also lower than the 76,700 units estimate of Yes Securities.
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| Category | August 2024 | August 2023 | Change (Y-o-Y) |
|---|---|---|---|
| Total Sales | 71,693 | 78,010 | -8% |
| Total Domestic Sales | 70,006 | 76,261 | -8% |
| Total CV Sales | 27,207 | 32,077 | -15% |
| Total EV Sales | 5,935 | 6,236 | -5% |
| Total PV Sales | 44,486 | 45,933 | -3% |
In the passenger vehicle segment, sales dipped by 3%, with 44,486 units sold compared to 45,933 units in the previous year. The commercial vehicle segment also saw a 3% year-on-year decline, with sales falling to 27,207 units, down from 32,077 units in August 2023. Electric vehicle sales went down around 3% to 5,935 units.
Price Action: Tata Motors’ share price was down 1.84% to trade at ₹1,090.90 as the markets opened on Monday.
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