Tata Motors shares hammered down as global sales remain flat

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, May 16, 2012, 9:16 [IST]

The Tata Motors Group global wholesales, including Jaguar Land Rover, were flat at 87,377 nos., in April 2012.

The numbers disappointed the markets and the stock was down more than 5% on the BSE at Rs 274.

Global sales of all commercial vehicles - Tata, Tata Daewoo and the Tata Hispano Carrocera range - were 38,008 nos., in April 2012, lower by 8%. Global sales of all passenger vehicles were at 49,369 nos. in April 2012, higher by 7%.Global sales of Tata passenger vehicles and the distribution offtake in India of Fiat cars were at 24,226 nos., lower by 9%, over April 2011. Global sales of Jaguar Land Rover in April 2012 were at 25,143 vehicles, higher by 29% over April 2011. Jaguar sales for the month were 3,603 nos., higher by 17%, while Land Rover sales were 21,540 nos., higher by 32%.

Tata Motors is India's largest automobile company, with consolidated revenues of Rs. 1,23,133 crores ($ 27 billion) in 2010-11. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand, Spain and South Africa. Among them is Jaguar Land Rover, the business comprising the two iconic British brands.

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