Motilal Oswal: October Auto Wholesales - Ashok Leyland, Tata Motors, Bajaj Auto, TVS Motor
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Motilal Oswal Report
Ashok Leyland Ltd.’s wholesale dispatches grew 1.3% YoY to 9,989 units (versus estimate 9,999 units); Medium and heavy commercial vehicle volumes declined approximately 10.6% YoY to 4,588 units (versus estimate 3,848 units).
Tata Motors Ltd.’s October 2020 volumes grew approximately 26.1% YoY to ~52,100 units (versus estimate 53,300 units), led by ~79% YoY growth in total passenger vehicle volumes to 23,600 units (versus estimate 23,700 units)
Bajaj Auto Ltd.’s wholesales grew ~10.5% YoY to ~512,k units (versus estimate 492.4k units).
TVS Motor Company Ltd.’s wholesales grew 22.1% to 394.7k units (versus estimate 364.3k units).
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