Tata sales sputter in March

Investor's Business Daily

Shares of India's largest carmaker continued sliding midweek after it earlier said March sales plunged 28% vs. a year ago, to 72,712 vehicles. Tata Motors (TTM), maker of low-cost cars for India as well as the high-end Jaguar and Land Rover brands, said sales in its key market India slid 27% to 69,160 units. That contrasts with gains by U.S. majors Ford (F)and General Motors (GM), which said Mon. that March sales rose 5.7% and 6.4%, respectively. Tata shares fell 3.4% to 23.73. Ford fell 2.5% to 12.68 and GM fell 0.5% to 27.80.

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