homeauto NewsOctober auto sales: Bajaj Auto, Maruti Suzuki sales fall; Tata Motors, Ashok Leyland impress
October auto sales: Bajaj Auto, Maruti Suzuki sales fall; Tata Motors, Ashok Leyland impress
Auto sales data for the month of October has been coming in and there is definitely a positive surprise this time around across most segments. The numbers are either better than expected or better than what the companies did last month.
Auto sales data for the month of October has been coming in and there is definitely a positive surprise this time around across most segments. The numbers are either better than expected or better than what the companies did last month.
Starting with the two-wheeler space Bajaj Auto reported October sales slightly better than what the street was estimating, the company in fact clocked in the highest sales in 2021. The sales came in with a significant month-on-month improvement this time around both in the domestic as well as in the export market. So total sales went up 9.50 percent month-on-month coming in at 4.39 lakh units, while domestic sales went up 13.50 percent on a month-on-month basis.
Read Here: Bajaj Auto sales down 14% YoY at 4.39 lakh units; October reports highest sales this year
Looking at the other pockets, the standout performance really was in the commercial vehicle space. Both Ashok Leyland and Tata Motors reported very good numbers.
Ashok Leyland saw the highest sales since March of 2021. The sales went up for the fifth straight month this time around, and they were much higher than expected, total sales up 11 percent year-on-year, and medium and heavy commercial vehicle sales up 32 percent on a year-on-year basis.
Tata Motors as well reported their numbers and it is a 30 percent year-on-year growth that it has seen.
The only pocket that has been under pressure up until now was tractors. Escorts the October sales continue to be subdued. Total sales down 1.1 percent and domestic sales down 3.3 percent.
However, the management commentary was quite bullish. They said that the festive period of Navaratri and the Dussehra witnessed very good footfalls, it was a delayed sowing and harvesting cycle of the current rabi crop that augurs well for festive footfall. So the numbers were weak, but the management is quite optimistic that demand trends are looking good.
So all in all, it has been a good start to the festive season.
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