Auto sales in November are expected to be a mixed bag — the passenger vehicle segment shall grow in the low single digits while the two-wheeler segment is likely to make a comeback in a big way.
In terms of overall growth for the industry, the two-wheelers’ wholesale segment is expected to grow 25% year-on-year while medium and heavy commercial vehicles are expected to rise about 12% year-on-year.
Below are the updates from some of the major carmakers in India:
Leading two-wheeler manufacturer reported robust November auto sales. The total sales witnessed a substantial uptick of 25.6%, reaching 4.91 lakh units compared to 3.90 lakh units year-on-year.
Domestically, the company experienced a commendable 25.4% growth with 4.76 lakh units sold, up from 3.79 lakh units in the previous year. The export segment demonstrated an impressive 33.1% increase, recording 14,764 units against 11,093 units in the corresponding period last year.
The parent company of Royal Enfield reported a robust performance with a 13% surge in total sales, reaching 80,251 units compared to 70,766 units year-on-year.
In the export segment, Eicher Motor showcased a 2% increase, with 5,114 units as opposed to 5,006 units in the previous year.
Escorts Kubota reported a positive trend in November auto sales with a 3.7% YoY increase, reaching 8,258 units compared to 7,960 units.
Despite some variations in festive demand across certain states, the overall performance showcases a robust market response.
Bajaj Auto has witnessed a substantial year-on-year growth in total sales, recording an impressive 31% increase from 3.06 lakh units to 4.03 lakh units. The two-wheeler segment has notably contributed to this success, with a significant uptick of 33%, reaching 3.49 lakh units compared to 2.62 lakh units in the previous year.
Mahindra and Mahindra total auto sales came at 70,576 units as compared to Nomura’s estimate of 70,800 units.
Maruti Suzuki's total sales at came at 1.64 lakh units as compared to Nomura estimate of 1.67 lakh units.
TVS Motor Company reported total sales of 3.64 lakh units, slightly below Nomura's estimated 3.72 lakh units. Motorcycle sales surged 19% year-on-year, reaching 1.73 lakh units compared to 1.45 lakh units. However, 3-wheeler sales declined by 10%, with 12,128 units sold, down from 13,481 units in the same period last year.
Ashok Leyland
Ashok Leyland reported total sales of 14,053 units, falling short of Nomura's estimate of 16,700 units. The overall sales experienced a 3% decline from 14,561 units year-on-year. Medium and heavy commercial vehicle (M&HCV) sales also dropped by 10%, reaching 8,500 units compared to 9,474 units last year. Total domestic sales decreased by 5% to 13,031 units from 13,654 units year-on-year.
Eicher Motors
Eicher Motors total CV sales up 5.9% at 5,194 units as compared to 4,903 units in November 2022.
Tata Motors
Tata Motors' November sales fell below expectations at 74,172 units, missing Nomura's estimate of 75,100 units.
(Will be updated)
First Published: Dec 1, 2023 9:19 AM IST
