Sales of Tata Motors fell 84 percent year-on-year to 11,012 units in March. The automaker had sold 68,727 units in the year-ago period. Domestic Sales down 84% at 11,012 units vs 68,727 units CV Sales down 87% at 7,123 units vs 56,536 units PV Sales down 68% at 5,676 units vs 17,810 units
Tata Motors, the owner of Jaguar Land Rover, plans to separate its cars business from trucks and buses, as the company seeks partners for a unit slammed by the coronavirus outbreak and a global shift to electric vehicles.
''The recent outbreak of Covid-19 increases the challenges faced by the business,'' Tata Motors said in a statement on March 27. ''This decision is a first step in our plans to secure mutually beneficial strategic alliances for the domestic PV business and help secure its long-term viability.''
Shares of the company declined Rs 3.1, or 4.36%, to settle at Rs 67.95. The total volume of shares traded was 2,648,493 at the BSE (Wednesday).