Tata Motors reported its monthly sales data for October on Friday afternoon. The company’s total sales were ahead of analyst estimates.
What Happened: The auto giant’s total sales for October 2024 stood at 82,682 vehicles, compared to 82,954 units during October 2023. Domestic sales for the last month stood at 80,839 units, compared to 80,825 in the same month last year.
Analysts at Motilal Oswal and Anand Rathi Share and Stock Brokers estimated the company to report sales of 78,400 and 79,500 respectively.
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| Category | October 2024 | October 2023 |
|---|---|---|
| Total Sales | 82,682 | 82,954 |
| Domestic Sales | 80,839 | 80,825 |
| Commercial Vehicle Sales | 34,259 | 34,317 |
| Passenger Vehicle Sales | 48,423 | 48,637 |
Commercial vehicle sales for the quarter came in at 34,259, compared to 34,317 units sold in October 2023. Passenger vehicles were also flat at 48,423, compared to the previous year’s 48,637. Electric vehicle sales shrunk 2% year-on-year to 5,355 units.
Shares of the Tata Group company have remained under pressure for the past few months due to declining sales. In September, the company’s total sales slumped 15% year-on-year to 71,345 vehicles, missing analysts’ estimates.
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