Tata Motors Shares Slip Over 3% as October Sales Show Flat Growth Across Segments

On November 04, 2024, Tata Motors shares dropped by over 3%, reaching an intraday low of ₹814.50 on the Bombay Stock Exchange (BSE). This dip followed the release of the company’s monthly auto sales report, which showed minimal year-over-year growth in October 2024.

Monthly Sales Performance

In October 2024, Tata Motors recorded total sales of 82,682 units, slightly lower than the 82,954 units sold in the same month last year. The company’s sales breakdown included commercial vehicles (CV) and passenger vehicles (PV), with both segments showing limited growth.

• Commercial Vehicles (CV) – Sales totalled 34,259 units, showing mixed performance across different CV categories.
• Passenger Vehicles (PV) – Sales amounted to 48,423 units, staying nearly the same as the previous year.

Mixed Results in Commercial Vehicle Sales

Commercial vehicle sales exhibited a mixed trend across segments-

• Heavy Commercial Vehicles (HCV) – Truck sales dipped by 2%, while passenger carriers increased by 13%.
• Intermediate and Light Commercial Vehicles (ILMCV) – This segment rose by 9%.
• Small Commercial Vehicles (SCV) and Pickups – Sales dropped by 3%.
• Commercial Vehicle International Business (CV IB) – Sales declined by 15%.

Overall, domestic sales of medium and heavy commercial vehicles (MH&ICV), including trucks and buses, increased slightly to 15,574 units from 15,211 units last year.

Passenger Vehicle Sales Remain Stable

Tata Motors’ passenger vehicle sales, including electric vehicles (EVs), remained flat at 48,423 units in October 2024, compared to 48,637 units a year ago.

• Domestic PV Sales (Including EVs) – Held steady at 48,131 units.
• International PV Sales – Declined by 3%, with sales totalling 292 units.
• EV Sales (Domestic and International) – Dipped by 2%, totalling 5,355 units.

Stock Performance Snapshot

Despite some long-term gains, Tata Motors’ recent stock performance has been weak-

• Past Year: The stock gained 27.28%.
• Year-to-Date (YTD): Up by 4.31%.
• Short-Term Declines: The stock has fallen by 11.41% in the last month and 24.83% over the past 3 months.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.