Tata Motors weakens after global wholesales dip 8%

Shares of Indian multinational automotive manufacturing company, Tata Motors are trading 1.5% lower at Rs 350 on the Bombay Stock Exchange (BSE) after the global wholesales figures including Jaguar Land Rover (JLR) declined from 3,07,017 units in July 2014 to 73,535 units in July 2015 showing a drop of 8%.

Also, the global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in July 2015 dropped from at 117,040 units in July 2014 to 30,278 units in July 2015, lower by 3%.

Meanwhile, the global wholesales of all passenger vehicles for the month of July in the current year stood at 43,257 units as against 189,977 units for the same month last year indicating a fall of 12%.

However, the global wholesales of Tata Motors’ passenger vehicles in July 2015 stood at 10,689 units, higher by 12%, over July 2014.

The stock opened at Rs 355 and touched a low of Rs 346 on the BSE. A total of 249,441 shares changed hands on the BSE so far.

Tata Motors