Shares of country's leading automobile companies Tata Motors and Maruti Suzuki India plunged as much as 2.5 per cent on Monday after both companies posted the sales results for April. At 2:36 pm, stocks of Tata Motors were down 1.6 per cent at Rs 430, and stocks of Maruti Suzuki plunged 1.4 per cent at Rs 7,622, respectively.
Tata Motors sales in April surged 74 per cent to 72,468 units compared to 41,729 units in the same period last year. In the domestic market, the company's sales went up by 81 per cent to 71,467 compared to 39,401 units in April last year. Total passenger vehicle dispatches to dealers rose by 66 per cent to 41,587 units as against 25,095 units in April 2021.
Total passenger vehicle dispatches to dealers rose by 66 per cent to 41,587 units as against 25,095 units in April 2021.
Meanwhile, Maruti Suzuki India, the country's largest automaker, reported a dip in its April sales by six per cent to 1,50,661 units. It dispatched 1,59,691 units to dealers in April this year. In the domestic market, the company's sales slipped 7 per cent to 1,32,248 units compared to 1,42,454 units in April last year. Notably, the company's exports jumped 7 per cent to 18,413 units against 17,237 vehicles in the April last year.
