November retail auto sales disappoint, details here
CNBC-TV18’s Sonia Shenoy shares more details on the overall November auto sales numbers.
The only bright spark in the November auto sales data was commercial vehicles (CV). Other than that most sectors have reported disappointment in the month of November.
Tata Motors and Ashok Leyland reported good auto sales numbers for the month of November. Tata Motors total sales went up 25 percent year-on-year (YoY) while the commercial vehicle (CV) sales numbers went up 15 percent YoY.
For Ashok Leyland, the overall numbers were about 2 percent down, the medium and heavy commercial vehicles saw 10 percent growth YoY.
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Mahindra and Mahindra’s (M&M) auto sales were down 6.5 percent YoY at 40,100 units and tractor numbers - both Escorts and M&M have reported the double-digit decline. The tractor industry has been hit by the delayed harvest of Kharif crops owing to the late monsoon situation.
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The two-wheelers sector saw weakness. Both Bajaj Auto and TVS Motors have reported weakness in sales particularly in domestic sales.
Watch the accompanying video of CNBC-TV18’s Sonia Shenoy for more details on the overall November auto sales numbers.
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