Auto stocks drop as August sales disappoint

Stocks

oi-Sunil

By Sunil Fernandes

Published: Monday, September 2, 2013, 10:01 [IST]

Shares in Auto stocks dropped as August sales for some of the heavyweights like Tata Motors and Mahindra and Mahindra disappointed.

While the shares of Tata Motors was trading at Rs 294, down 1.64 per cent over Friday's close, the shares of Mahindra and Mahindra were trading lower by almost 2 per cent at Rs 767.

Tata Motors' total sales (including exports) of Tata commercial and passenger vehicles in August 2013 were 49,611 vehicles. The company's domestic sales of Tata commercial and passenger vehicles for August 2013 were 44,717 nos.

The company's sales of commercial vehicles in August 2013 in the domestic market were 33,153 nos., LCV sales were 24,904 nos., while M&HCV sales stood at 8,249 nos.

Sales of passenger vehicles for August 2013 were at 11,564 nos. Sales of the Nano/ Indica/ Indigo range in August 2013 were 8,761 nos. The Sumo/ Safari/ Aria/ Venture range sales were 2,803 nos.

Mahindra & Mahindra has reported 17.32 per cent decrease in its total sales at 37,897 units in August, 2013, according to PTI reports.

The company had sold 45,836 units in the same month last year, Mahindra & Mahindra (M&M) said in a statement.
Sales of automobiles, particularly the passenger car segment and the commercial vehicle segments have been badly hit, as slowing economic growth has taken its toll on sales and volumes.

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