Tata Motors plunges on flat global sales

Tata Motors was the biggest loser on the bourses today, plunging over 5 percent on morning trade on the back of a slowdown Jaguar Land Rover sales.

Sales of luxury brands from Jaguar Land Rover were at 25,143 units during April, up 29 percent from the same month last year. However the industry was expecting around 31,000 units.

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The company said its global sales remained flat in April at 87377 units over the same period last year. India’s largest automobile company had sold 87114 units in April 2011.

Commercial vehicles sales were down by 8 percent to 38,008 units from the same month last year, it added.

Agencies