Auto Sales In May 2023: Hero MotoCorp's Dispatches Rise, Beat Estimates
Here's a look at how India's automakers' sales fared in the month gone by.
Hero MotoCorp's Dispatches Rise 7%
Hero MotoCorp Ltd.'s dispatches to dealerships rose 7% to 5.19 lakh units in May, beating analysts' consensus estimates, which forecasted a decline of over 6% during the month.
Sales Highlights (YoY):
Motorcycle sales grew 8% to 4.89 lakh units.
Scooter sales fell 12.5% to 30,138 units.
Domestic sales rose 9% to 5.08 lakh units.
Exports declined 45% to 11,165 units.
Eicher Motors' Royal Enfield Sales Rise 22%
Eicher Motors Ltd.'s total motorcycle sales rose 22% to 77,461 units in May.
Sales Highlights (YoY):
Sales of models with engine capacity up to 350cc grew 28% to 69,038 units.
Sales of models with engine capacity beyond 350cc fell 14% to 8,423 units.
Exports fell 34% to 6,666 units.
TVS Motor's Two-Wheeler Dispatches Grow 11%
TVS Motor Company Ltd.'s total two-wheeler sales rose 11% to 3.19 lakh units in May even as the weakness in the overseas markets continued.
The company sold nearly 18,000 units of its electric scooter iQube in the month, compared with 2,637 units sold last year. It has 30,000 pending orders for the model.
Sales Snapshots (YoY):
Total sales rose 9% to 3.31 lakh units.
Domestic two-wheeler sales rose 32% to 2.53 lakh units.
Two-wheeler exports fell 30% to 66,605 units.
Three-wheeler sales 29% to 11,314 units.
Tata Motors' CV Sales Fall 12%, PV Dispatches Up 6%
Tata Motors Ltd.'s total wholesale sales fell 2% year-on-year to 73,448 units in May as the sales of commercial vehicles that carry smaller loads fell steeply.
The sales of intermediate, light and medium commercial vehicles slid 38%, while the cargo and pick-up vehicles' dispatches fell 19%.
Sales Highlights (YoY):
Passenger vehicle sales rose 6% to 45,894 units.
Sales of commercial vehicles fell 12% to 28,989 units.
Heavy commercial vehicle sales grew 11% to 8,160 units.
Ashok Leyland's Dispatches Fall On Lower LCV Sales
Ashok Leyland Ltd.'s dispatches to dealerships fell 1% to 13,134 units in May due to lower sales in the light commercial vehicle segment.
Some analysts flagged signs of weakness in the light commercial vehicle segment due to inflation.
Sales Snapshots (YoY):
Sales of medium and heavy-duty vehicles rose 4% to 8,270 units.
Light commercial vehicle sales fell 9% to 4,864 units.