Auto Sales In June 2023: M&M's SUV Sales Jump, Tractor Dispatches Rise 6%

Mahindra & Mahindra Ltd.'s passenger vehicle dispatches to dealerships jumped 21% to 32,588 units in June as demand for SUVs remained robust.

The tractors sales rose 6% to 44,478 units despite a late arrival of South-West monsoon.

"Though arrival of South-West monsoon got delayed due to cyclonic disturbances, it has smartly progressed in the last week of June and has now covered the entire country, bringing huge relief to the farmers and aiding in Kharif sowing," Hemant Sikka, president of farm equipment sector at M&M, said in a statement.

Sales Highlights (YoY):

• Three-wheeler sales rose 59% to 6,377 units.

• Sales of medium duty light commercial vehicles rose 2% to 16,735 units.

• Sales of small light commercial vehicles fell 10% to 3,063 units.

TVS Motor Co Ltd.'s total two-wheeler sales grew 4% year-on-year to 3.04 lakh units in June as domestic dispatches registered strong growth.

The company's electric scooter iQube recorded sales of 14,462 units in the month, compared with 4,667 units a year ago.

Sales Snapshots (YoY):

• Total domestic sales rise 3% to 3.16 lakh units.

• Domestic two-wheeler sales rise 22% to 2.36 lakh units.

• Two-wheeler exports fall 31% to 79,144 units.

• Motorcycle sales rose 2% to 1.46 lakh units.

• Scooter sales grew 11% to 1.10 lakh units.

TVS Motor said the first two weeks of June witnessed a decline in EV two-wheler industry sales due to readjustment in prices owing to the reduction in FAME II subsidy.

"However, TVS iQube's order book remains very healthy. We are already seeing a pick up in sales and are confident of continued improvement in the coming months," it said a the press release.

Bajaj Auto Ltd.'s sales fell 2% to 3.41 lakh units in June as demand remained weak in the overseas markets.

Sales Snapshots (YoY):

• Total two-wheeler sales fell 7% to 2.94 lakh units.

• Domestic two-wheeler sales rose 33% to 1.66 lakh units.

• Two-wheeler exports fell 33% to 1.27 lakh units.

• Commercial vehicle sales grew 52% to 47,332 units.

Ashok Leyland Ltd.'s dispatches to dealerships rose 5% year-on-year to 15,221 units in June aided by bus sales, which nearly doubled in the month.

Sales Highlights (YoY):

• Domestic sales grew 7% to 14,363 units.

• Light commercial vehicle sales flat at 5,089 units.

• Sales of medium and heavy commercial vehicles rose 10% to 9,274 units.

Hero MotoCorp Ltd.'s dispatches to dealerships fell nearly 10% year-on-year to 4.37 lakh units in June, missing analysts' consensus estimates that projected growth in the month.

Sales Highlights (YoY):

• Domestic sales declined 8.7% to 4.23 lakh units.

• Exports fell 34.3% to 14,236 units.

• Motorcycle sales fell 12.3% to 4.04 lakh units.

• Scooter sales grew 38.7% to 32,519 units.

Tata Motors Ltd.'s total wholesale sales rose 1% year-on-year to 80,383 units in June even as weak dispatches in smaller commercial vehicles dragged the overall tally.

The sales of intermediate, light and medium commercial vehicles slid 19%, while the cargo and pick-up vehicles' dispatches fell 16%.

Sales Highlights (YoY):

• Commercial vehicle sales fell 8% to 34,314 units.

• Heavy commercial vehicle sales grew 19% to 9,625 units.

• Passenger vehicle sales rise 5% to 47,359 units.

• Electric vehicle sales more than doubled to 7,025 units.

Eicher Motors Ltd.'s total motorcycle sales rose 26% to 77,109 units even as dispatches of higher-end vehicles fell.

Sales Highlights (YoY):

• Sales of models with engine capacity up to 350cc grew 36% to 68,664 units.

• Sales of models with engine capacity exceeding 350cc fell 23% to 8,445 units.

• Exports decline 14% to 9,614 units.

Eicher Motors Ltd.'s VE Commercial Vehicles Ltd.'s dispatches to dealerships rose 6.5% year-on-year to 6,715 units.

Sales Snapshots (YoY):

• Domestic sales grow 12.4% to 6,277 units.

• Exports fall 58.4% to 250 units.

Hyundai Motor India Ltd. registered 5% year-on-year growth in wholesale salest at 65,601 units in June aided by the strong sales in the overseas markets.

Sales Highlights (YoY):

• Domestic sales rose 2% to 50,001 units.

• Exports rose 17% to 15,600 units.

Maruti Suzuki India Ltd.'s total dispatches to dealerships rose 2.3% year-on-year to 1.59 lakh units in June as new launches led to strong sales in the utility vehicle category.

Sales Highlights (YoY):

• Domestic sales grew 5.8% to 1.40 lakh units.

• Exports fell 17% to 19,770 units.

• Sales of utility vehicles jumped 130% to 43,404 units.

• Sales in mini and compact segment declined 14.8% to 78,525 units.

Escorts Kubota Ltd.'s dispatches to dealerships fell 2% year-on-year to 9,850 units in June, as delayed monsoon in some parts of the country hit demand.

"Overall sentiments were mixed as markets with good rainfall and crop prices showed good momentum, and markets with a delayed monsoon had a slightly dampened demand," the company said in a statement.

Sales Snapshots (YoY):

• Domestic sales flat at 9,270 units.

• Exports fell 26% to 580 units.

The tractor maker expects that further onset of monsoon with adequate reservoir levels, better liquidity and consumer credit availability will improve demand in coming months.

Indian automakers are announcing the June sales figures on Saturday.

Sales of two-wheelers are expected to rise, led by pick-up in rural volumes and stable demand in urban markets. Passenger vehicle dispatches are estimated to rise moderately due to slowdown in sales of small cars.

Commercial vehicles continue to be hit because of pre-buying in March, as implementation of new emission norms led to price hikes in April.

For tractors, higher inventory levels at dealerships may limit the wholesale dispatches.