Tata Motors share price dropped as much as 11.51 per cent on Wednesday which is a lowest level recorded since 2002.
On the Bombay Stock Exchange (BSE), Tata Motors shares slumped to as low as Rs. 109.55 apiece, as against their previous close of Rs.123.80.
The sharp downward fall in the share price happened after China's Geely Automobile Holdings reported a 40 per cent loss in profit. Analysts and traders are worrying about Tata Motors’ China sales going ahead.
Moreover, India's auto sector is going through its worst time in nearly two decades. Domestic passenger vehicles sales in India plunged 30.98 per cent to 2,00,790 units last month, data from industry body SIAM or Society of Indian Automobile Manufacturers revealed last week.