The automobile sector is poised to maintain its upward trajectory in December 2023, with analysts anticipating sustained growth across various segments year-on-year (YoY). According to the CNBC-TV18 poll, the industry is expected to showcase a positive performance.
Check how the leading automakers in India performed in December on the sales front:
Tata Motors:
Tata Motors total sales for December came at 77,855 units in December as compared to the CNBC-TV18 poll of 75,233 units.
Hyundai Motor India:
Hyundai Motor India surpassed six lakh sales in the domestic market during the calendar year 2023, marking its highest-ever sales figure for a calendar year. The company sold 6,02,111 units in the domestic market, reflecting a 9% growth compared to the previous year.
Additionally, exports saw a notable increase, reaching 1,63,675 units in CY2023, registering a 10% growth over the previous year.
The month of December alone witnessed a surge in domestic sales, with a 10% jump totaling 42,750 units.
Maruti Suzuki:
Maruti total sales were down 1.3% at 1.37 lakh units vs 1.39 lakh units (YoY). The company crossed the annual sales milestone of 20 lakh units in the calendar year 2023.
Mahindra and Mahindra
Mahindra and Mahindra reported December auto sales of 60,188 units as compared to the CNBC-TV18 poll of 67,550 units. The total tractor sales declined to 19,138 units, down 18% from 23,243 units in the corresponding month a year ago.
“Retail momentum slowed down on account of tapering of agricultural activities, which is the norm in the month of December. Announcement of higher horticulture production and continued Government support to the agri sector are expected to support tractor demand," said Hemant Sikka, President, Farm Equipment Sector, M&M in an exchange filling.
Bajaj Auto
Bajaj Auto has announced its total sales for December at 3.26 lakh units. This marks a 16% increase compared to the same period last year but falls short of the CNBC-TV18 poll forecast of 3.51 lakh units.
The domestic market witnessed robust growth, with a 28% surge at 1.91 lakh units. However, exports saw a more modest 2% increase at 1.35 lakh units. The 2-wheeler segment sales grew by 15% YoY, reaching 2.83 lakh units, while 3-wheeler sales soared by 27%, totaling 43,805 units compared to 34,462 units in the previous year.
Escorts Kubota
Escorts experienced a downturn in its recent sales figures, recording a total of 4,536 units, down 18.6% from the previous year's 5,572 units. Domestic sales faced a similar trend, declining by 17% to reach 4,131 units, compared to 4,979 units YoY.
The company attributes this decline to the delay in crop harvest and lower Rabi sowing, which have adversely impacted rural sentiments.
First Published: Jan 1, 2024 9:16 AM IST
