Select auto shares down on disappointing Jan sales

Four-wheeler majors reported lower sales growth in January compared to same month last year

Share of four-wheeler majors such as Tata Motors, Maruti Suzuki and Mahindra & Mahindra were down over 1% each after they reported disappointing January sales on Saturday.

Maruti Suzuki India reported 10.3% decline in total sales in January at 1,02,416 units as against 1,14,205 units in the same month last year.

Tata Motors reported a 34% decline in total vehicle sales to 40,481 units in January. The company had sold 61,660 vehicles in January 2013.

Auto-maker Mahindra & Mahindra today reported 13.77% decline in its total sales at 42,685 units in January. The company had sold 49,503 units in the same month previous year, the company said in a statement.