Tata Motors sales drop 4% in December; stock slips 1.5%
Shares of India’s automobile major, Tata Motors have slipped by 1.5% to quote at Rs 396 after the company posted a 4% decline in sales at 39,973 units for December as against 41,734 vehicles in December 2014.
In addition, domestic sales of Tata Motors’ commercial and passenger vehicles dropped by 6% at 35,416 units during the month as compared to 37,776 units sold in the corresponding month for the year 2014.
Meanwhile, sales of passenger vehicles in the Indian market in December 2015 quoted at 8,069 units as against 12,040 units in the same month 2014, indicating a dip of 33%.
However, on the brighter side, in the commercial vehicles segment, the domestic sales stood at 27,347 units, a jump of 6% over December 2014. Also, the exports during the month of December in the year 2015 stood at 4,557 unites as against 3,958 units in December 2014, higher by 15%.
The stock opened at Rs 400 and touched a low of Rs 394.35 on the BSE.
Read full article: Business Study
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