Tata Motors, M&M, Maruti Suzuki, Bajaj Auto Report Strong November Sales
Tata Motors Ltd. saw a 58 percent rise in domestic vehicle sales in November benefitting from a low base in the same month last year.
Commercial vehicle sales went up 72 percent to 35,307 units, from 20,538 units a year ago when the industry was hit by demonetisation, according to a media statement. Growth was led by medium and heavy commercial trucks where sales rose 88 percent to 12,851 units. Light commercial truck sales too grew 76 percent to 3,984 units.
Increased demand for the new tonnage vehicles, infrastructure development led by government funding and keen focus on customer requirements has helped reviving the M&HCV performance.Tata Motors Media Statement
Passenger vehicle sales rose 35 percent over last year to 17,157 units. Growth was driven by demand for Tata’s new compact SUV Nexon, the statement said. The company said that it ramped up production at its Ranjangaon facility for that particular model.
Pickup sales too rose 53 percent over last year to 4,685 units.
Exports, however, fell 12 percent to 4,927 units as the automaker saw a drop in CV sales volume in key international markets like Nepal and Sri Lanka, the statement added.
TVS Motor Company Ltd.’s sales grew 12 percent to 2.52 lakh units in November from last year, led by strong export growth.
Exports of the automaker surged 43.8 percent to 32,892 units. Sales of two-wheeler vehicles advanced 11.1 percent to 2.43 lakh units aided by 37.3 percent jump in motorcycle sales to 93,202 units from the year-ago period.
- Domestic two-wheeler vehicle sales increased 6.1 percent over last year to 2.03 lakh units
- Scooter sales grew 7.2 percent to 78,397 units year-on-year.
- Two-wheeler exports climbed 45.7 percent to 40,185 units.
- Three-wheeler sales increased 46.7 percent to 8,642 units.
Eicher Motors Ltd.’s sales rose 22 percent in November led by higher exports.
Exports of the automaker, best known for its Royal Enfield brand of motorcycles, rose 60 percent to 2,350 units last month compared to the same period last year, it said in a stock exchange filing. Overall sales for November stood at 70,126 units.
Sales of motorcycles with engine capacity up to 350cc increased 26 percent year-on-year while sales of models with higher engine capacity fell 12 percent to 4,375 units in the same period.
Shares of Eicher Motors fell 0.71 percent to Rs 29,730 apiece, after the announcement.
Mahindra & Mahindra Ltd.'s sales grew 21 percent to 36,039 vehicles in November on the back of higher sales of cars and heavy commercial vehicles.
Passenger vehicle sales rose 21 percent to 16,030 units driven by a 37 percent rise in sale of cars and vans, the automaker said in an exchange filing. Utility vehicle sales rose 20 percent.
Commercial vehicles grew 22 percent with medium-to-heavy commercial vehicle sales more than doubling to 792 units. Sale of light commercial vehicles, that have a capacity of less than 3.5 tones, rose 20 percent to 14,262 while sale of bigger LCVs rose 11 percent to 500.
"We expect our growth momentum to continue on the back of some recent refresh launches as well as the positivity of our product portfolio,” said Rajan Wadhera, president of M&M’s automotive sector.
Sale of three-wheeler vehicles rose 13 percent to 4,455 units.
Farm equipment maker Escorts Ltd.’s sales rose 6.5 percent year-on-year in November, driven by exports.
The tractor maker sold 4,941 units in the domestic market, an increase of 5.2 percent, while exports jumped 64.8 percent to 178 units, according to its stock exchange notification.
Total units sold during the month jumped to 5,119 units from 4,806 units a year ago.