Hero MotoCorp's Dispatches Rise 12%, Scooter Sales Double
Hero MotoCorp Ltd.'s total dispatches to dealerships rose 11.9% year-on-year to 3.91 lakh units in November.
Exports fell 46% to 11,093 units.
Motorcycle dispatches rose 7.2% to 3.53 lakh units.
Scooter sales nearly doubled to 38,098 units.
Eicher's Royal Enfield Sales Jump 37% YoY, Exports Decline
Eicher Motors Ltd.'s total motorcycle sales rose 37% year-on-year to 70,766 units even as dispatches in overseas markets fell.
Sales Snapshots (YoY):
Sales of motorcycles with engine capacity exceeding 350cc fell 42% to 4,810 units.
Sales of motorcycles with engine capacity within 350cc jumped 52% to 65,956 units.
Exports fell 27% to 5,006 units.
M&M Car Sales Jump 56%, Tractor Dispatches Rise 10%
Mahindra & Mahindra Ltd.'s passenger vehicle sales rose 56% to 30,392 units on a low base of last year. The commercial vehicle sales also witnessed robust growth across segments.
The company's total tractor sales rose 10% to 30,528 units in the month.
Sales Highlights (YoY):
Medium duty light commercial vehicle sales jumped 34% to 16,193 units.
Three-wheeler sales doubled to 5,198 units.
Exports rose 1% to 3,122 units.
Domestic tractor sales rose 12% to 29,180 units.
Tractor exports fell 15% to 1,348 units.
The company said the supply chain challenges continue to be dynamic and it's keeping a close watch on the situation.
"Demand continued to remain strong in the post festival period on account of brisk sowing of rabi crops, fuelled by high moisture content in the soil and healthy reservoir levels and is expected to beat last year’s record sowing of 70 million hectares," Hemant Sikka, president of Farm Equipment Sector at M&M, said in a statement. "Procurement of Kharif crop has progressed well, bringing liquidity in the hands of farmers and this augurs very well for tractor industry’s growth."
Maruti Suzuki Sales Jump 14% YoY On A Low Base
Maruti Suzuki India Ltd.'s total sales rose 14.3% to 1.59 lakh units in November on low base of last year, when chip shortage limited the supply of cars. The smaller cars such as Alto and S-Presso witnessed low growth of 4.45% to 18,251 units.
Sales Snapshots (YoY):
Total car sales rose 14.3% to 1.59 lakh units.
Sales of mini and compact cars rose 22.3% to 91,095 units.
Utility vehicle sales jump 32.5% to 32,563 units.
Exports fell 7.7% to 19,738 units.
Eicher Motors' Commercial Vehicle Arm's Sales Rise 20%
Eicher Motors Ltd.'s arm VE Commercial Vehicles Ltd. reported a 20% year-on-year growth in dispatches to dealerships in November.
Total dispatches rose 20% to 4,903 units.
Domestic sales rose 40.8% to 4,483 units.
Exports fell 70% to 237 units.
Tata Motors Car Sales Jump 55%, Commercial Vehicle Sales Fall 10%
Tata Motors Ltd. continued its strong performance in the passenger vehicle segment with 55% rise in dispatches to 46,425 units in November. However, the commercial vehicle sales fell 10% to 29,053 units.
Sales Snapshots (YoY):
Total sales rose 27% to 73,467 units.
Sales of medium and heavy commercial vehicles rose 42% to 8,879 units.
Intermediate and light commercial vehicle dispatches fell 32% to 3,462 units.
Commercial vehicle exports fell 59% to 1,623 units.
Electric passenger vehicle sales surged 146% to 4,451 units.
TVS Motor's Sales Miss Estimates On Lower Exports
TVS Motor Co Ltd.'s overall two-wheeler sales rose just 2% year-on-year to 2.64 lakh units as weakness in the overseas markets weighed on the company's exports. While motorcycle sales rose just 4%, the scooter sales registered a growth of 12% due to urban markets faring better than the rural areas.
Sales Highlights (YoY):
Total sales, including three-wheelers, rose 2% to 2.77 lakh units.
Domestic two-wheeler sales rose 9% to 1.91 lakh units.
Exports fell 12.4% to 84,134 units.
Three-wheeler sales fell 9% to 13,381 units.
"Our EV journey recorded a milestone in the month of November 2022 by recording 10,056 units in a single month for our TVS iQube Electric scooters backed by the strong order books and increasing acceptance towards electric mobility," the company said in the exchange filing. It had sold only 699 units of the scooter in the comparable period.
Ashok Leyland's Sales Rise 39% As Truck Dispatches Surge
Ashok Leyland Ltd.'s sales rose 39% year-on-year to 14,561 units, powered by strong dispatches in the truck segment. Domestic sales in the light commercial vehicle segment rose 6%, while bus sales nearly doubled.
Sales Snapshots (YoY):
Domestic dispatches to dealerships rose 46% to 13,654 units.
Total sales of medium and heavy commercial trucks grew 68% to 7,811 units.
Light commercial vehicle sales rose 4% to 5,087 units.
Escorts Kubota's Dispatches To Dealerships Rise 12% In November
Escorts Kubota Ltd.’s sales rose 11.9% year-on-year to 7,960 units as demand remained resilient even after the festive season. However, the sales tally was significantly lower than the preceding month, when the company sold 14,492 units.
Sales Highlights (YoY):
Domestic sales rose 13.4% to 7,359 units.
Exports fell 3.7% to 601 units.
“While rural sentiments continue to remain favourable owing to improved Rabi sowing, assisted by good monsoon this year and better water level in reservoirs, softening in commodity prices is not happening at desired pace leaving input costs to be higher than anticipated,” the company said, in an exchange filing.
Bajaj Auto's Sales Fall 19% With Deep Cuts In Exports
Bajaj Auto Ltd.’s total dispatches to dealerships fell 19% year-on-year with exports again weighing on overall sales. The wholesale sales in the overseas markets have faced challenges in the last few months as the U.S. dollar strengthened even as economic growth faltered in several countries.
Sales Snapshots (YoY):
Sales of two-wheelers fell 15% to 1.23 lakh units in the domestic market.
Exports of two-wheelers declined 28% to 1.39 lakh units.
Commercial vehicle sales rose 9% to 44,432 units.
Auto Sales Preview
India’s automakers are announcing their November sales figures today.
The dispatches in the month are expected to slow down compared to the previous month due to de-stocking at dealerships and moderation in demand following the festive season.
The sales are expected to be higher year-on-year as shortages of semiconductors limited production last year, especially in the passenger vehicle segment. Analysts expect the weakness in rural markets to play spoilsport in the two-wheeler category.
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