Tata Motors Group global wholesales down 14% yoy in December due to overall weakness

CV volumes down 14% yoy, PVs down 14% yoy, and JLR down 17% yoy in December 2018.

Jan 11, 2019 10:01 IST India Infoline News Service

Tata Motors Limited (TML) sold 1,00,551 vehicles globally in December 2018, down 14% yoy. Sales were 4% lower compared to November 2018. sales 

The combined sales of Jaguar and Land Rover were 45,474 vehicles, 17% lower than in December 2017 and 8% lower than in November 2018.

At 59,898 vehicles, the total passenger vehicle sales were 14% lower yoy and 10% lower mom. Commercial vehicle sales, which were riding on a cyclical upswing, faltered in November and December 2018 due to weak festive sales in India.

Consequently, CV volumes were 14% lower yoy and 5% higher mom at 40,653 units in December 2018.

Following is a summary of TML’s global wholesales:

Particulars Dec-18 Dec-17 yoy (%) Nov-18 mom (%)
Global Wholesales 1,00,551 1,16,677 -14% 1,04,964 -4%
CV 40,653 47,182 -14% 38,535 5%
PV 59,898 69,495 -14% 66,429 -10%
JLR + Cherry 45,474 55,066 -17% 49,312 -8%
Jaguar 14,088 16,826 -16% 15,114 -7%
Land Rover 31,386 38,240 -18% 34,198 -8%
Source: Company Data, IIFL Research
Tata Motors Ltd is currently trading at Rs179.65 down by Rs5.9 or 3.18% from its previous closing of Rs185.55 on the BSE. The scrip opened at Rs186.30 and has touched a high and low of Rs187.55 and Rs179.45 respectively. So far 2,75,66,672 (NSE+BSE) shares were traded on the counter.

The current market cap of the company is Rs58,560.63cr.

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