India's automobile companies are set to release their sales data for August 2022 starting September 1. According to the domestic brokerage firm Sharekhan, the festive season is going to continue the growth momentum for the auto sector in India, with passenger vehicles (PV) and commercial vehicles (CV) taking the lead in the sector, followed by two-wheeler (2W) and three-wheeler (3W).
Below are updates from some of the major carmakers in India:
Eicher Motors
Eicher Motors total motorcycle sales (Royal Enfield) for August 2022 stood at 70,112 units seeing the growth of 53 percent from selling 45,860 units in August 2021.
Motorcycle sales in the international business grew 6 percent to 7,220 units in August 2022 from 6,790 units sold in August 2021.
TVS Motors
TVS Motor total sales for August 2022 stood at 3.33 lakh units. The 2W sales went up 15 percent and came at 3.15 lakh units as compared to 2.7 lakh units in the corresponding period a year ago.
Motorcycle Sales went up by 17 percent and stood at 1.57 lakh units in August 2022 as compared to 1.33 lakh units in August 2021.
Tata Motors
Tata Motors sales in the domestic & international market for August 2022 grew by 35 percent and stood at 78,843 vehicles, compared to 57,995 units during August 2021.
The company's total domestic sales went up by 41 percent and stood at 76,479 units in August 2022 as compared to selling 54,190 units in the corresponding period a year ago.
Domestic sales of Medium Heavy and Intermediate Commercial Vehicles in August 2022, including trucks and buses, stood at 12,069 units, compared to 8,962 units in August 2021.
While domestic sales of PV grew by 68 percent and stood at 47,166 for August 2022.
Mahindra and Mahindra
Mahindra and Mahindra's (M&M) auto sales for the month of August 2022 stood at 59,049 units a growth of 93 percent from 30,585 in August 2021.
In the Utility Vehicles segment, the company sold 29,516 units in August 2022. The PV
segment (which includes UVs, Cars and Vans) M&M sold 29,852 units.
Exports for the month were at 2,912 units. In the Commercial Vehicles segment, the company sold 21,492 units in August 2022.
M&M President, Automotive Division Veejay Nakra said in a regulatory filing that the demand across the company's portfolio remained strong and new launches such as Scorpio-N, Scorpio Classic and the new Bolero MaXX Pik-up also helped in driving growth.
In the tractors segment, M&M's total sales grew marginally to 21,520 units in August 2022, as compared to 21,360 units in August 2021.
"We are optimistic that tractor purchases on auspicious days in the festive season will lead to revival in demand, as farmers start preparation for harvesting operations. We are preparing for strong tractor demand in the festive season," M&M President - Farm Equipment Sector Hemant Sikka said as reported by news agency PTI.
Maruti Suzuki
Maruti Suzuki's total sales for August 2022 grew by 26.4 percent and came at 1.65 lakh units as compared to selling 1.3 lakh units in the corresponding period a year ago.
Total domestic sales grew by 30 percent and stood at 1.4 lakh units in August 2022 as compared to 1.1 lakh units in August 2021.
In the PV segment, Maruti Suzuki's domestic sales came at 1.34 lakh units, an increase of 30 percent from August 2021.
Sales to other equipment manufacturers stood at 6,155 while sales through exports in August 2022 for Maruti Suzuki grew by 4 percent and came at 21,481.
The shortage of electronic components had a minor impact on the production of vehicles, mainly in domestic models but the Company took all possible measures to minimise the impact, Maruti Suzuki said in a regulatory filing.
Ashok Leyland
Ashok Leyland's total sales for August 2022 increased by 51 percent and stood at 14,121 units as compared to 9,360 units in the corresponding period a year ago.
Domestic sales saw a 58 percent increase as the company sold 13,301 units in August 2022.
Total sales for Medium and Heavy Commercial Vehicles (M&HCV) stood at 8,379 units a growth of 81 percent from 4,632 units being sold in August 2021.
Sales of M&HCV bus saw a sharp rise of 215 percent as Ashok Leyland sold 1054 units in August 2022.
Bajaj Auto
Bajaj Auto's total sales for August 2022 increased 8 percent from the corresponding period a year ago.
Bajaj Auto has also said that in September the company will see a big bump up in the market share.
In the two-wheeler segment, the company saw a growth 5 percent in sales owing to a sharp 48 percent increase in domestic sales due to the highest ever sales of Bajaj Platina, the company said in a regulatory filing.
Bajaj Auto said that Nigeria restricting two-wheeler movement had impacted sales, and Nigerian retails have shrunk by 25-30 percent, sources told CNBC-TV18. Bajaj auto gets 20 percent of export revenues from Nigeria. This is what Executive Director Rakesh Sharma had to say:
Escorts Kubota
Escorts Kubota's total tractor sales for August 2022 went up by 7.3 percent the company sold 6,111 tractors as against 5,693 tractors sold in August 2021. In June quarter the automaker posted a 20.1 percent dip in net profit at Rs 147.5 crore despite a 20.4 percent rise in revenues to Rs 2,014.9 crore.
Margin in the June quarter went down by 110 basis points.
Escorts Kubota said in a regulatory filing on Thursday that as festivals start early this year, the company should see a better September and most likely a stretched peak selling season of three months. Overall macroeconomic factors and farmer sentiment remain positive.
MG Motor India
MG Motor India saw a 11 percent decline in retail sales in August 2022, hit by supply chain constraints. The company sold 3,823 units in August 2022, as compared to 4,315 units in August 2021, as reported by news agency PTI.
"The volatility in supply chains continues to cause many production challenges, however, this is expected to improve from next month onwards," the automaker said in a statement.
The company, a wholly-owned arm of China's SAIC Motor Corp, said that the launch of the new version of Gloster, with significant safety, style, and technology enhancements, is expected to double the sales of the model line up.
The next-gen Hector, slated for a year-end launch, is expected to add to the growing momentum, MG Motor India stated.
Toyota Kirloskar
Toyota Kirloskar Motor (TKM) reported 17 percent increase in total sales the number stood at 14,959 units for August 2022. The automaker had dispatched 12,772 units to its dealers in August 2021, as reported by news agency PTI.
Innova Crysta, Fortuner and the Legender witnessed unprecedented customer orders, said TKM Associate Vice President, Sales, and Strategic Marketing Atul Sood.
The premium MPV Vellfire performed exceptionally well, registering a growth of close to 120 per cent.
"The onset of the festive season, we hope the Urban Cruiser Hyryder along with the upcoming Limited Edition Crysta Gasoline, and all other vehicles in the Toyota line-up will further aid us," added Sood.
Hero MotoCorp
Hero MotoCorp reported a 1.92 percent rise in overall sales to 4,62,608 units in August 2022 on Thursday. In the previous year, Hero MotoCorp sold 4,53,879 units, according to a regulatory filing.
Domestic sales were 4,50,740 units in August 2021, up from 4,31,137 units in August 2021, representing a 4.55 percent increase. Exports, on the other hand, fell to 11,868 units from 22,742 units in the same time last year.
Motorcycle sales increased to 4,30,799 units last month from 4,20,609 units the previous year, while scooter sales decreased to 31,809 units from 33,270 units the previous year.
Hero MotoCorp anticipates the growth momentum to go up in the next months as a consequence of a typical festive season after a two-year hiatus, a stronger monsoon resulting in a fair agricultural crop and positive consumer attitudes, as well as a robust rise in the country's GDP.
This is the latest updates copy. Keep checking for more news.
(Edited by : Nishtha Pandey)
First Published: Sept 1, 2022 10:20 AM IST
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