Auto Sales In October 2023: Royal Enfield's Sales Rise 3% Despite Fall In Exports
Here's a look at how India's automakers' sales fared in the month gone by.
KEY HIGHLIGHTS
Eicher Motors' Royal Enfield Sales Rise 3%
Eicher Motors Ltd.'s total motorcycle sales rose 3% to 84,435 units even as shipments to overseas markets fell in the month.
Sales Snapshots (YoY):
Sales of models with engine capacity upto 350cc rose 2% to 76,075 units.
Sales of models with engine capacity exceeding 350cc rose 13% to 8,360 units.
Exports fell 39% to 3,477 units.
Ashok Leyland's Dispatches Rise With Uptick In Light Duty Vehicle Sales
Ashok Leyland Ltd.'s total sales rose 13% year-on-year to 16,864 units with growth across categories.
While the medium and heavy commercial vehicle segment did the heavy lifting to boost company's sales in the past few months, the light commercial vehicle sales showed a uptick in October.
Sales Snapshots (YoY):
Total medium and heavy commercial vehicle sales rose 12% to 10,185 units.
Light commercial vehicle sales rose 15% to 6,679 units.
TVS Motor's Two-Wheeler Sales Rise 22%, Beat Estimates
TVS Motor Co.'s two-wheeler sale rose 22% to 3.44 lakh units, beating analysts' consensus )estimates that projected a growth of 17%.
The company sold 20,153 units of iQube electric scooter, as against sales of 8,103 units last year.
Sales Snapshots (YoY):
Total sales rose 21% to 4.35 lakh units.
Domestic two-wheeler sales rose 25% to 3.45 lakh units.
Two-wheeler exports grew 10% to 75,653 units.
Three-wheeler sales fell 11% to 14,104 units.
Hero MotoCorp's Dispatches To Dealerships Jump 26.5%
Hero MotoCorp Ltd.'s total dispatches to dealerships rose 26.5% to 5.75 lakh units in October.
Sales Highlights (YoY):
Sales of motorcycles rose 26% to 5.29 lakh units.
Scooter sales rose 30% to 45,589 units.
Domestic sales rose 26% to 5.60 lakh units.
Exports grew 29% to 15,164 units.
Maruti Suzuki's Sales Near 2-Lakh Mark
Maruti Suzuki India Ltd.'s total dispatches to dealerships jumped 19% to 1.99 lakh units, which is the highest-every monthly sales for the company.
The decline in dispatches of cars in the mini and compact segment moderated in the month, boosting the overall sales.
Sales Snapshots (YoY):
Total domestic sales rose 20.5% to 1.77 lakh units.
Sales in mini and compact segment fell 3.4% to 98,621 units.
Utility vehicle sales surged 91% to 59,147 units.
Exports rose 7.4% to 21,951 units.
Eicher Motors Commercial Vehicle Arm's Sales Rise
Eicher Motors Ltd.'s subsidiary VE Commercial Vehicles Ltd.'s dispatches to dealerships rose 24% to 7,486 units.
Sales Highlights (YoY):
Domestic sales rose 27% to 7,077 units.
Exports fell 43.5% to 201 units.
Tata Motors' CV Sale Rise 4%, Passenger Vehicle Dispatches Up 7%
Tata Motors Ltd.'s total dispatches to dealerships rose 6% year-on-year to 80,825 units in October with both commercial vehicles and passenger vehicle sales witnessing growth.
Sales Highlights (YoY):
Passenger vehicle sales rose 7% to 48,637 units.
Electric passenger vehicle sales surged 28% to 5,465 units.
Total Commercial vehicle sales rose 4% to 34,317 units.
Heavy commercial vehicle sales grew 10% to 10,204 units.
Small commercial vehicle cargo and pickup sales fell 8% to 14,419 units.
M&M Passenger Vehicle Sales Continue To Scale Records
Mahindra & Mahindra Ltd.'s passenger vehicle sales rose 35% to 43,708 units in October, making it the fourth consecutive month of highest-ever monthly sales.
Both SUVs and commercial vehicles achieved highest ever monthly volumes, said Veejay Nakra, president of the automotive division at M&M.
"While the strong festive demand should see us continue our growth momentum in November, we will keep a close watch of select supply related challenges,” he said in a statement.
Sales Snapshots (YoY):
Sales of medium duty light commercial vehicles rose 29% to 20,349 units.
Three-wheeler sales surged 85% to 9,402 units.
Tractor sales fell 3% to 50,460 units.
Tractor exports declined 23% to 1,124 units.
Bajaj Auto's Domestic Two-Wheeler Sales Rise, Exports Decline
Bajaj Auto Ltd.'s two-wheeler dispatches rose 19% year-on-year to 4.08 lakh units as a jump in domestic sales offset the decline in exports.
Sales Snapshots (YoY):
Total sales rose 19% to 4.71 lakh units.
Domestic two-wheeler sales rose 35% to 2.78 lakh units.
Two-wheeler exports fell 5% to 1.30 lakh units.
Three-wheeler sales grew 18% to 63,044 units.
Escorts Kubota's Dispatches Fall 9% On High Base
Escorts Kubota Ltd.'s total dispatches to dealerships fell nearly 9% to 13,205 units in October due to a high base and slowing demand.
The festive season this year is delayed and spread across two months; hence October sales were slightly muted compared to last year, the tractor maker said in a statement.
Sales Highlights (YoY):
Domestic sales fell 8.7% to 12,642 units.
Exports fell 13.3% to 563 units.
Auto Sales Preview
Indian automakers are announcing their October sales figures on Wednesday.
Auto dispatches to dealerships may have grown across segments, barring tractors, as festival season spurred demand.
However, estimates for retail sales suggest strong growth for two-wheelers but sluggishness in the passenger vehicle segment due to a slowdown in sales of small cars.
In the commercial vehicle segment, the growth in the medium and heavy commercial vehicle categories is likely to lift overall sales. Tractor sales are likely to fall due to slowing demand and a high base.
