Tue Oct 29 05:20:00 UTC 2024: ## Tata Motors Shares Plunge Amid Auto Sector Slump

**Mumbai, India** – Tata Motors shares took a significant tumble on Tuesday morning, dropping over 4% to hit an intraday low of ₹840.80. The decline comes amid a broader sell-off in the auto sector, with several other major players like Maruti Suzuki, Hyundai, and Mahindra also experiencing pressure.

The Nifty Auto Index was down 2% in morning trade, reflecting the overall weakness in the market. This downturn can be attributed to a confluence of factors, including soft demand and a buildup of unsold inventory. Dealers are currently holding a record high inventory of 7.9 lakh vehicles, valued at a staggering ₹79,000 crore.

According to the Federation of Automobile Dealers Associations (FADA), personal vehicle retail sales in September witnessed an 18.81% year-on-year decline. Contributing to this slump are factors such as the shraddh and pitrapaksha periods, heavy rainfall, and a sluggish economy.

Tata Motors itself has been facing declining sales. The company’s total sales in the domestic and international market stood at 2.15 lakh vehicles in Q2 of FY25, a nearly 12% drop compared to the same period last year.

Technical analysts predict further downward pressure on the company’s shares in the coming weeks. Tata Motors is scheduled to report its earnings on November 8, and investors will be closely watching for any updates on the company’s performance and future outlook.

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