Shares of Tata Motors declined over 3 per cent in early trade today after the company posted a 41 percent decline in domestic sales at 39,530 vehicles for April as against 66,609 vehicles in March 2021.
Total sales in the domestic and international market for April 2021 stood at 41,858 vehicles, the company said.
Total Commercial Vehicle sales stood at 16,644 units, down 59 per cent against 40,609 units sold in March 2021. Medium and heavy commercial vehicle (M&HCV) sales declined 55 percent month-on-month (MoM) to 4,942 units. Small commercial vehicle (SCV) cargo and pickup segment sales dropped 60 percent, MoM, to 6,930 units.
The total domestic sales declined 61 per cent to 14,435 vehicles. The company had sold 36,955 units in March 2021.
Total Passenger Vehicle sales stood at 25,095 units, down 15 per cent against 29,654 units sold in the previous month.
Recently, the company has announced that Mr. Martin Uhlarik has been appointed as the new Global Design Head of the company. Mr. Uhlarik was till recently Head of Design for Tata Motors European Technical Centre (TMETC) and takes over his new role from Mr. Pratap Bose who has chosen to pursue opportunities outside the company.
At 10:17 hours, Tata Motros share was quoting at Rs 292.55, down 0.48 per cent on the BSE. On a year-to-date basis, the stock has gained around 59 per cent, against a gain of 5 per cent in the Nifty Auto index.