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Mahindra and Mahindra, Maruti Suzuki Bajaj Auto, Escorts Kubota, Toyota Kirloskar and Ashok Leyland will release their sales data for November 2022, check all the details here
India’s automobile companies are set to release their sales data for November 2022. According to brokerage firm Nomura estimates that wholesale volume growth will likely be strong on a favourable base and inventory re-build.
Meanwhile, brokerage firm Emkay Global Financial Services, expects domestic passenger vehicle sales to rise over 30 percent in November as compared to the corresponding period a year ago. The growth is primarily to be driven by a large order book and higher vehicle production.
Below are updates from some of the major carmakers in India:
Mahindra & Mahindra
Mahindra & Mahindra reported a 56 percent growth in passenger vehicle sales for the month of November. Three-wheeler sales doubled compared to the same month last year.
Exports remained flat year-on-year.
Tractors presented a mixed picture for the month of November, with overall sales growing 10 percent. Exports were down 15 percent compared to last year. The management said that the demand continued to remain strong in the post festival period on account of brisk rabi crop sowing.
Maruti Suzuki India
Maruti Suzuki India reported a 14.4 percent jump in overall sales for the month of November. However, the figure of 1.59 lakh units was lower than the CNBC-TV18 poll of 1.68 lakh units.
Exports saw a drop compared to the same month last year.
The company said that the shortage of electronic components had a minor impact on vehicle production, mainly in the domestic models and that the company took all possible measures to minimise the impact.
Tata Motors
Tata Motors registered total sales of 75,478 units in November 2022 growing 21 percent from the corresponding period a year ago.
The automakers domestic sales for November 2022, grew 27 percent. Total sales for Electric Vehicle increased 146 percent from the corresponding period a year ago and stood at 4,451 units.
TVS Motor
TVS Motor total sales for November 2022 stood at 2.77 lakh units. The 2W sales went up 2 percent and came at 2.63 lakh units as compared to 2.57 lakh units in the corresponding period a year ago.
EV sales see a 13-fold rise at 10,056 units as compared to 699 units in the corresponding period a year ago.
Bajaj Auto
The company reported a decline of 30 percent in total exports. On a monthly basis the automakers total sales have declined 22 percent from 3.95 lakh units sold in October 2022. This month Bajaj Auto not only saw a decline in exports but the domestic sales also declined standing at 1.52 lakh units, declining 4 percent on a yearly basis and 36 percent on a month-on-month basis.
Escorts Kubota reported a total tractor sales of 7,960 units in the month of November, the sales grew 12 percent from 7,116 units in the corresponding period a year ago.
On a month-on-month basis the sales have declined over 45 percent.
Ashok Leyland’s total sales for November 2022 increased by 39 percent and stood at 14,561 units as compared to 10,480 units in the corresponding period a year ago.
Domestic sales saw a 45.8 percent increase as the company sold 13,654 units in November 2022.
Total sales for Medium and Heavy Commercial Vehicles (M&HCV) stood at 9474 units a growth of 69 percent from 5,608 units being sold in November 2021.
Sales of M&HCV bus saw a sharp rise of 76 percent as Ashok Leyland sold 1663 units in August 2022.
(This is a live updates copy will be updated with more details)
First Published: IST
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