Fri Nov 01 13:43:22 UTC 2024: ## Tata Motors Shares Plummet Amidst Auto Industry Slowdown
**Mumbai, October 29, 2024:** Tata Motors shares took a sharp dive today, plummeting 4.18% to ₹842 at 12 pm IST on the Bombay Stock Exchange. The decline comes amidst a broader sell-off in auto stocks, triggered by concerns over a continued slowdown in the industry.
The NSE Auto index fell 2.16% at 12 pm IST, with almost all companies in the red. The downward trend was attributed to the Federation of Automobile Dealers Associations (FADA) announcement that personal vehicle retail sales slumped nearly 19% in September 2024 compared to the same period last year.
FADA cited factors such as Shraddh, Pitrapaksha, heavy rainfall, and a sluggish economy for the decline, which has pushed inventory levels to a historic high of 80-85 days in September.
Tata Motors, in particular, reported a 12% drop in total sales to 2.15 lakh units in the second quarter of FY 2024-25, compared to 2.43 lakh units during the same period last year.
The sell-off in auto stocks underscores the ongoing challenges faced by the industry and raises questions about the future trajectory of growth. Investors are closely watching for signs of a rebound in the coming months.
First Piper 