June Auto Sales: Hero MotoCorp’s Sales Down 12%, Tata Motors’ Sales Dip 14%
Catch live updates on how Indian automakers fared in the month of June.
KEY HIGHLIGHTS
Hero MotoCorp's Sales Fall 12% In June
Hero MotoCorp Ltd. said its sales in June were down 12 percent to 6,16,526 lakh units from 7,04,562 lakh units in June 2018.
It also added in its exchange filing that this was the second consecutive month this fiscal when the company had clocked six-lakh plus monthly sales. The company sold 6,52,028 lakh units last month.
Tata Motors' Sales Dip 14% Due To Subdued Demand
Tata Motors Ltd.'s domestic sales continued to be affected by subdued demand and fell 14 percent on a yearly basis to 49,073 units.
Cumulative sale in the April-June period declined 20 percent to 131,879 units compared to the year-ago period, the company said in an exchange filing.
- Commercial vehicles sales in June were down 7 percent over last year to 35,722 units.
- Passenger vehicles sales plunged 27 percent from the year-ago period to 13,351 units. The company attributed the dip in sales to low customer sentiments owing to a liquidity crunch but said that it expects the market to “bounce back soon.”
“ The slowing down of the economy is hurting overall customer sentiments and causing an impact on demand for fresh vehicles,” the company said in its exchange filing.
It also said sales from exports in June were at 2,702 units, plunging 48 percent over last year due to drop in retails in Bangladesh, Nepal and the middle-east markets.
TVS Sales Decline Driven By Fall In Scooter Sales
TVS Motor Company Ltd. saw sales decline 5 percent to 2.97 lakh units.
- Two-wheeler sales fell 5.9 percent over last year to 2.83 lakh units.
- Motorcycle sales grew 2 percent to 1.28 lakh units.
- Scooter sales fell 3.7 percent.
- Exports rose 6 percent to 69,900 units.
- Three-wheeler sales rose 10 percent to 12,413 units.
Eicher Motors Sales Fall 22%
Eicher Motors Ltd. sales declined 22 percent to 58,339 units compared to June 2018, according to its exchange filing.
Key Sales Highlights (YoY):
- Models with engine capacity upto 350cc fell 25 percent to 51,678 units.
- Models with engine capacity over 350cc rose 17 percent to 6,661 units.
- Total exports shot up 72 percent to 3,257 units.
Shares of the Royal Enfield parent rose 2.5 percent to close at Rs 19,625.30 each.
M&M Auto Sales Fall 6%; Tractor Sales Down 18%
Mahindra & Mahindra Ltd.’s auto sales fell 6 percent on a yearly basis last month while its tractor sales fell 18 percent, according to its stock exchange filing.
Key Sales Highlights (YoY):
- Passenger vehicle sales rose 4 percent to 18,826 units.
- Utility vehicle sales rose 8 percent to 17,723 units.
- Sales of cars and vans including company’s unit Mahindra Electric Mobility Ltd. fell 36 percent to 1,103 units.
- Commercial vehicle sales fell 15 percent to 16,394 units.
- Light commercial vehicle sales up to 3.5T fell 13 percent to 14,863 units.
- Light commercial vehicle sales above 3.5T fell 17 percent to 826 units.
- Medium and heavy commercial vehicle sales declined 36 percent to 705 units.
- Three wheeler sales fell 2 percent to 4,251 units.
- Total domestic vehicle sales declined 5 percent to 39,471 units.
- Total exports rose 11 percent to 3,076 units.
Tractor Sales Highlights (YoY)
- Domestic sales declined 19 percent to 31,879 units.
- Exports fell 6 percent to 1,215 units.
Shares of Mahindra & Mahindra Ltd. gained 1.2 percent to Rs 663.45 each.
Escorts Sales Fall 10%
Escorts Ltd. sold 8,960 tractors last month, a fall of 10.2 percent from the year-ago period, according to its exchange filing.
Key Highlights (YoY)
- Domestic sales declined 11.4 percent to 8,648 units.
- Export jumped 38.7 percent to 312 units.
Shares of Escorts rose close to 5 percent to Rs 562.90 after the announcement.
Ashok Leyland Sales Decline 19%
Shares of Ashok Leyland fluctuated between gains and losses to trade little changed at Rs 87.45.
The company sold 12,810 units last month, a fall of 19 percent from the year-ago period, the vehicle maker said in an exchange filing.
Key Sales Highlights (YoY)
- Domestic medium and heavy commercial truck sales fell 23 percent to 6,253 units.
- Domestic medium and heavy commercial bus sales rose 2 percent to 1,527 units.
- Total domestic medium and heavy commercial vehicle sales declined 19 percent to 7,780 units.
- Domestic light commercial vehicle sales declined 4 percent to 4,305 units.
- Total domestic vehicle sales fell 14 percent to 12,085 units.
Sales Including Exports (YoY)
- Total medium and heavy commercial truck sales fell 30 percent to 6,445 units.
- Total medium and heavy commercial bus sales fell 2 percent to 1,982 units.
- Total medium and heavy commercial vehicle sales fell 25 percent to 8,427 units.
- Total light commercial vehicle sales declined 3 percent to 4,383 units.
Maruti Suzuki Falls For The Fifth-Straight Month
The company sold 1.25 lakh units last month, a fall of 14 percent from June 2018, India’s largest carmaker said in a stock exchange filing.
Key Sales highlights (YoY)
- Sales of mini segment fell 36.2 percent to 18,733 units.
- Sales of compact segment fell 12.1 percent to 62,897 units.
- Sales of Ciaz rose 47 percent to 2,322 units.
- Sales of utility vehicles declined nearly 8 percent to 17,797 units.
- Sales of Vans fell 24 percent to 9,265 units.
- Sales of Super Carry rose 24 percent to 2,017 units.
- Sales to domestic original equipment manufacturers stood at 1,830 units.
- Total domestic passenger vehicle sales fell 17.2 percent to 1.11 lakh units.
- Total domestic sales fell 15.3 percent to 1.15 lakh units.
- Total exports rose 5.7 percent to 9,847 units.
The sales of new WagonR are reported under compact segment and the the sales number of old discontinued WagonR are however, reported in the mini sub-segment effective February 2019, the company said. Also, from effective April 2019, sales to other original equipment commenced and are included in domestic and exports.
Shares of the company pared early gains and traded flat at Rs 6,544.
Eicher Motors' Commercial Vehicles Arm Sales Drop 28.5%
VE Commercial Vehicles Ltd, a Volvo Group and Eicher Motors joint venture, reported 28.5 percent decline in sales for June 2019 to 4,569 units.
“Liquidity (issue) has really affected the truck industry,” its Managing Director and Chief Executive Officer Vinod Aggarwal told BloombergQuint in an interview in June. “The high-risk customers, who tend to be 15-20 percent of our customers, are finding it hard to get finance from non-banking finance companies.”
Shares of Eicher Motors were up 1.2 percent to Rs 19,372 each after rising 2.3 percent in opening trade.
Bajaj Auto Sales Flat; Shares Gain
The company's total sales stood at 404,624 units—unchanged from same month last year, according to its stock exchange filing.
Key Sales Highlights (YoY)
- Domestic motorcycle sales declined 1 percent to 1.99 lakh units.
- Motorcycle exports rose 11 percent to 1.51 lakh units.
- Total motorcycle sales rose 4 percent 3.51 lakh units.
- Domestic commercial vehicles sales declined 11 percent to 29,885 units.
- Commercial vehicles’ exports fell 29 percent to 23,448 units.
- Total commercial vehicle sales fell 20 percent to 53,333 units.
- Total domestic sales fell 2 percent to 2.29 lakh units.
- Total exports rose 3 percent to 1.75 lakh units.
Shares of the automaker snapped their two-day fall and rose 2.4 percent intraday to Rs 2,893.40 apiece.
Auto Blues To Continue In Seasonally Weak Month, Says Dealers' Survey
Car and two-wheeler sales are expected to decline in seasonally weak June, according to a BloombergQuint survey of 10 large automobile dealers, suggesting discretionary spending is yet to pick up.
“ The month started on a positive note with some slippage in sales over the previous month and temporary spike in demand due to Eid. However, post that sales have completely dried up,” said John K Paul, managing director at Chennai-based Popular Vehicles and Services Pvt. Ltd.
Vehicles registrations fell 16 percent over the previous month and slipped 14 percent on a yearly basis, according to data from 1,171 regional transport offices in 31 states and union territories.