Auto Sales October 2021 Live: Maruti, M&M Sales Jump On Low Base, Tata See 31% Rise
Hero MotoCorp Sees Recovery In Sight As Sales Improve By 3.32%
India's largest two-wheeler manufacturer, Hero MotoCorp Ltd. sold 5,47,970 units in October as the demand starts to recover, the company said in an exchange filing on Monday evening.
Hero MotoCorp's sales rose 3.2% over the last month. The company in the statement added that the demand in the festive season has been building and it expects healthy retail over the coming weeks.
"With the economy gradually opening up with several other positive indicators, such as encouraging farm activity and surge in preference for personal mobility, a swift revival in sales is expected in the coming months," company added in the statement.
Hero MotoCorp added that it continues to monitor the situation closely and remain optimistic about continuously improving consumer sentiment in the coming months with the onset of the festive season.
Sales Snapshot (M-o-M) -
Motorcycle sales rose 3.37% to 5,05,957 units.
Scooter sales rose 2.64% to 42,013 units.
Exports however fell 18.8% to 20,191 units.
Mahindra's Auto, Tractor Sales Soar In October
Mahindra & Mahindra Ltd.'s auto segment posted an overall sales of 41,908 units in October, a rise of 49% over September.
M&M’s passenger car sales too rose 53% over September to 20,130 units in October.
"Demand for vehicles across our product portfolio remains robust," Veejay Nakra, CEO of Automotive Division at M&M, said in the statement, adding that the supply chain issues around semi-conductor related parts continues to be dynamic and the firm is focussed on managing the situation in the short term.
The Farm Equipment segment sales also soared as the tractor sales rose 16% over the preceding month to 47,017 units in October.
Hemant Sikka, President of the Farm Equipment sector at M&M said heavy rainfall in September and October has resulted in delayed harvesting of Kharif crop, while leading to higher reservoir levels and moisture content for Rabi crop.
"Expectation of a good Kharif harvest, coupled with good preparations for Rabi crop and the upcoming festivities, will boost positive sentiments and drive demand in the coming months." he added.
Tata Motors Passenger Vehicle Sales Rise 32% In October
Tata Motors Ltd.’s passenger vehicle division sold 25,730 units in October, a 32% increase over the preceding month.
Sales Snapshot (MoM)
Overall Tata Motors’ domestic sales rose 16.3% to 65,151 units.
Total domestic commercial vehicle sales increased 1.2% to 33,674 units.
Exports fell 18% to 2,448 units.
Maruti's Sales Rise 60% Month-On-Month
Sales for India's largest carmaker, Maruti Suzuki India Ltd., rose 60% month-on-month to 1,38,335 units in October, the company said in a statement on Monday. The Gurugram-based automaker, however, said the shortage of electronic components continued to affect production during the month.
The jump comes on low base as the chip crisis had caused the sales to drop to 86,380 units in September
Sales Snapshot (MoM)
Exports rose 21.3% to 21,322 units.
Mini and compact vehicle segment sales rose 96.% to 70,521 units.
Utility vehicle sales rose 46% to 27,081 units.
Chip Shortage Impacts MG Motors Sales
Sales of MG Motor India fell nearly 12% in October as a global shortage of chips severely impacted the sales volumes.
The iconic British brand also known as Morris Garages, now owned by Chinese giant SAIC Motor Corp, sold 2,863 units in October. The company said it has limited stock at its dealerships.
"The challenge to ensure timely deliveries is likely to persist through November and December and we expect this to get better in Q1 next year," the company said in the statement.
Demand momentum continues to remain strong as the company has received more than 4,000 bookings for the Hector and more than 600 bookings for ZS EV and Gloster in October.