Auto Sales In July 2023: Hero MotoCorp's Sales Fall 12%, Sharply Below Estimates
Here's a look at how India's automakers' sales fared in the month gone by.
Hero MotoCorp's Dispatches Fall 12%, Sharply Below Estimates
Hero MotoCorp Ltd.'s dispatches to dealerships fell 12% to 3.91 lakh units in July, missing analysts' consensus estimates that project nearly 5% sales growth in the month.
Sales Snapshots (YoY):
Motorcycle sales fell 14% to 3.60 lakh units.
Scooter sales rose 26% to 30,718 units.
Domestic sales fell 14% to 3.71 lakh units.
Exports rose 35% to 20,106 units.
TVS Motor's Domestic Two-Wheeler Sales Lift Overall Dispatches
TVS Motor Co Ltd.'s two-wheeler sales in the domestic market grew 17% to 2.35 lakh units helping the overall tally to register a growth.
The strong domestic show limited the impact of an over 21% decline in motorcycle exports to 77,077 units.
Within two-wheelers, motorcycle sales grew 2%, while scooters recorded a growth of 5%.
Sales Highlights (YoY):
Total sales rose 4% to 3.26 lakh units.
Two-wheeler sales rose 4% to 3.12 lakh units.
Three-wheeler sales fell 8.8% to 13,670 units.
Exports fell 20% to 89,213 units.
The sales of the company's iQube electric scooter more than doubled to 13,306 units in the month.
Eicher Motors' Royal Enfield Sales Jump 32%
Eicher Motors Ltd.'s total motorcycle sales rose 32% to 73,117 units in July aided by new launches like Hunter 350.
Sales Snapshots (YoY):
Sales of models with engine capacity up to 350cc rose 39% to 64,398 units.
Sales of models with engine capacity exceeding 350cc fell 5% to 8,719 units.
Exports fell 22% to 7,055 units.
Heavy Duty Vehicles Lift Ashok Leyland's Dispatches
Ashok Leyland Ltd.'s dispatches to dealerships rose 11% to 15,068 units in July as demand remained strong for the heavy duty vehicles.
Sales Highlights (YoY)
Domestic sales rose 12% to 14,207 units.
Medium and heavy duty commercial vehicle sales rose 22% to 8,974 units.
Light commercial vehicle sales fell 3% to 5,233 units.
Maruti Suzuki's Sales Rise 3% As UV Dispatches Jump
Maruti Suzuki India Ltd.'s total sales rose 3% to 1.82 lakh units in July helped by the more than two-fold jump in utility vehicle sales.
However, sales in the mini and compact category declined 27% to 76,692 units.
Sales Snapshots (YoY):
Total domestic sales rose 2.5% to 1.59 lakh units.
Exports rose 9.2% to 22,199 units.
Utility vehicle sales rose 166% to 62,049 units.
M&M Clocks Highest Ever SUV Sales, Tractor Dispatches Up 8%
Mahindra & Mahindra Ltd.'s passenger vehicle dispatches rose 29% to 36,205 units in July riding the strong demand for utility vehicles.
Domestic tractor sales rose 11% offsetting the impact of a 38% fall in the exports.
Sales Highlights (YoY):
Utility vehicle sales rose 30% to 36,205 units.
Three-wheeler sales rose 49% to 6,481 units.
Sales of medium duty light commercial vehicles were flat at 16,503 units.
Tractor sales rose 8% to 25,175 units.
"The cumulative seasonal rainfall spread across the country has recovered very well in the month of July and this has helped sowing of kharif acreage to pick up momentum," Hemant Sikka, president of farm equipment sector at M&M, said in a statement.
Tata Motors' CV Sales Fall 4%, PV Sales Flat
Tata Motors Ltd.'s total dispatches to dealerships fell 1.4% to 80,633 units in July with a 4% decline in commercial vehicle sales due to weakness in the smaller vehicle categories.
The sales of intermediate, light and medium commercial vehicles slid 11%, while the cargo and pick-up vehicles' dispatches fell 10%.
Sales Snapshots (YoY):
Total domestic sales were flat at 78,844 units.
Total commercial vehicle sales fell 4% to 32,944 units.
Sales of heavy duty trucks rose 14% to 8,502 units.
Passenger vehicle sales were flat at 47,589 units.
Electric passenger vehicle sales rose 53% to 6,329 units.
Hyundai Motor's Dispatches Get Export Boost
Hyundai Motor India Ltd.'s total dispatches rose 4.5% year-on-year to 66,701 units in July as strong exports lifted the overall tally amid flat sales in the domestic market.
Sales Snapshot (YoY):
Domestic sales rose 0.4% to 50,701 units.
Exports jumped 20% to 16,000 units.
Eicher Motors' Commercial Vehicle Arm's Sales Fall
Eicher Motors Ltd.'s subsidiary VE Commercial Vehicles Ltd.'s dispatches to dealerships fell 1.8% to 5,877 units as sales of light and medium duty buses declined 13%.
Sales Highlights (YoY):
Domestic sales fell 0.9% to 5,311 units.
Exports fell 15% to 425 units.
Toyota Kirloskar Posts Highest Ever Monthly Whole Sales
Toyota Kirloskar Motor recorded its highest ever monthly dispatches to dealerships in July with an 11% year-on-year growth to 21,911 units.
"Given the mid-year sales trend and the favourable demand sentiments, coupled with our increase in production by adding a third shift operation, we are confident of recording one of our strongest years in the country," Atul Sood, Vice President of sales and strategic marketing at Toyota Kirloskar Motor, said in a release.
Bajaj Auto's Two-Wheeler Sales Fall Across Markets
Bajaj Auto Ltd.'s two-wheeler dispatches fell 15% to 2.69 lakh units, with sales declining in both domestic and overseas markets.
Three-wheeler sales doubled to 37,273 units in the domestic market, but exports fell 35% to 13,634 units.
Sales Snapshots (Year-on-Year):
Total sales fell 10% to 3.2 lakh units.
Domestic two-wheeler sales fell 14% to 1.4 lakh units.
Two-wheeler exports declined 16% to 1.3 lakh units.
Three-wheeler sales rose 29% to 50,907 units.
Total domestic sales fell 2% to 1.8 lakh units.
Total exports fell 18% to 1.4 lakh units.
Escorts Kubota's Dispatches Rise 4% On Strong Domestic Showing
Escorts Kubota Ltd.'s dispatches to dealerships rose 3.9% year-on-year to 5,570 units in July, helped by the progression of the monsoon in the country.
The monsoon has progressed well during the last two months, barring certain eastern pockets, but some parts of the country have received heavy rainfall, resulting in flood-like situations and affecting on-ground activities, the company said in a release.
Sales Highlights (YoY):
Total sales rose 3.9% to 5,570 units.
Domestic sales rose 9.7% to 5,161 units.
Exports fell 38% to 409 units.
Escorts Kubota expects demand to pick up in the upcoming festive months starting September.
Auto Sales Preview
Indian automakers announced their July sales figures on Tuesday.
July saw sluggish sales growth for automakers, with both two-wheeler and passenger vehicle makers witnessing slower dispatches.
The tepid demand for smaller cars continued in India's passenger vehicle market, while the recovery of two-wheelers slipped to the slow lane.
In contrast, sales of commercial vehicles and tractors are likely to witness double-digit growth.
