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tata motors reports production cut in february, share price down 4%

Wednesday, Mar 4 2020 11:40AM

The share price of Tata Motors cracked nearly 4 percent in the morning trade on BSE on March 4, a day after the company reported a 34.42 percent cut in production in February 2020 due to coronavirus.

The company produced 37,826 units in the month against 56,826 vehicles in the year-ago period.

The passenger vehicle production fell 32 percent year-on-year (YoY). The commercial vehicle volume, too, registered a 35 percent YoY decline led by a drop of 45.8 percent in the medium and heavy commercial vehicles and a 29.4 percent drop in the light commercial vehicle segment.

Tata Motors admits that the outbreak of coronavirus has hit its India production due to supply-chain challenges from China.The company reported a decline of 34 percent in domestic sales at 38,002 units in February.

Tata Motors share price was 3.76 percent down at Rs 125.50 on BSE at 1105 hours.


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