Earlier today, Tata Motors, an Indian Automaker, stock price seen a drop after Jaguar Land Rover, its subsidiary reported a decline in total vehicle sales at 44,282 units in October.
Tata Motors stock fell by 3.4 percent and was the top loser for the day in the Sensex. The stock fell to the 188.75 level on the BSE which previously closed at 195.40. At press time the stock is trading at 186.30 which is a 4.58% drop.
Its stock price fell by 55.96% since the beginning of the year to date and over the last 12 months the stock price has fallen by 55.07%
The company’s stock price is trading at a 50-day moving average of 228.41. The JLR vehicles sales in China fell by 49 percent as the country imposed tariff changes. The trade tension with the United States added to a drop in vehicle purchases and consumer confidences.
The company stated the sales in the United Kingdom rose by 46.9%. North America has seen good demand for its vehicles as the company launched newer models Jaguar I-PACE, E-PACEand sales rose by 24.1%. The company also launched the refreshed Range Rover and Range Rover Sports variant.