June Auto Sales: Hero MotoCorp’s Sales Down 12%, Tata Motors’ Sales Dip 14%
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.