Share price of Tata Motors Limited TTM dropped 1.72% to $30.36 on Dec 2 after the automaker reported a 7% decrease in total sales of its commercial and passenger vehicles, including exports, to 38,918 units in Nov 2015 from 41,720 units in Nov 2014. The automaker’s domestic sales of commercial and passenger vehicles totaled 35,345 units in the month, 6% lower than 37,427 vehicles sold in the year-ago period.
In the passenger vehicles business, Tata Motors’ sales for Nov 2015 declined 13% to 10,571 vehicles from 12,021 vehicles sold in Nov 2014. Overall sales of passenger cars in Nov 2015 fell 11% to 9,172 units from 10,286 units in Nov 2014. The compact car segment (without sedan) recorded a 33% rise in sales to 5,821 units in the month from 4,376 units a year ago. Utility vehicles sales plunged 22% to 1,345 units.
In the commercial vehicles business, Tata Motors’ sales for Nov 2015 in the domestic market went down 2% to 24,828 vehicles due to a decline in industry demand for Light & Small Commercial Vehicles. Sales at the Light & Small Commercial Vehicle business deteriorated 16% to 13,304 vehicles, while Medium and Heavy Commercial Vehicle (M&HCV) sales improved 21% to 11,524 vehicles.
Tata Motors’ export sales for the month of November decreased 17% to 3,573 vehicles from 4,293 vehicles sold a year ago. Tata Motors is one of the leading automotive manufacturers in India. The company has operations in the U.K., South Korea, Thailand, South Africa and Indonesia.
Currently, Tata Motors carries a Zacks Rank #3 (Hold). Better-ranked automobile stocks include General Motors Company GM, CarMax Inc. KMX and O'Reilly Automotive Inc. ORLY. All three stocks carry a Zacks Rank #2 (Buy).
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