November auto sales review: Maruti Suzuki, M&M, Tata Motors lead amid mixed results
November auto sales saw mixed results, with Maruti Suzuki and Tata Motors outperforming estimates, while Hyundai, Hero MotoCorp, and Eicher Motors lagged behind. M&M and TVS also showed growth.
November auto sales across major Indian players showed a varied performance, with some companies surpassing estimates while others missed expectations. The trends reflect a mixed response to the slowing economy, but also highlight certain areas of resilience.
M&M
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Tractor Sales: 33,378 units, up 4.1% YoY (Est. 35,200)
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Auto Sales: 79,083 units, up 12.1% YoY (Est. 81,000)
M&M saw growth in its auto sales, though its tractor sales fell short of expectations.
Maruti Suzuki
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Total Sales: 1.82 Lakh units, up 10.4% YoY (Est. 1.78 Lakh)
Maruti Suzuki outperformed expectations with robust growth in both passenger vehicles and overall sales, maintaining its leadership in the market.
Tata Motors
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Passenger Vehicle Sales: 47,117 units, up 2% YoY (Est. 43,000)
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Commercial Vehicle Sales: 27,636 units, down 1% YoY (Est. 30,000)
Tata Motors had a mixed performance, with passenger vehicle sales exceeding estimates, while its commercial vehicle segment faced a decline.
Hyundai Motors India
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Total Sales: 61,252 units, down 6.9% YoY (Est. 64,000)
Hyundai's sales were below estimates, with a noticeable YoY decline. However, the company achieved its highest-ever monthly rural contribution, which now stands at 22.1%.
Hero MotoCorp
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Total Sales: 4.60 Lakh units, down 6% YoY (Est. 4.75 Lakh)
Hero MotoCorp reported a decline in sales, missing estimates, despite a record retail sales period during the festive season.
TVS Motor Company
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Total 2W Sales: 3.92 Lakh units, up 11% YoY (Est. 3.85 Lakh)
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Total Sales: 4.01 Lakh units, up 10% YoY (Est. 3.95 Lakh)
TVS Motor outperformed estimates, driven by strong growth in both two-wheeler and overall sales.
Bajaj Auto
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Total 2W Sales: 3.68 Lakh units, up 5% YoY (Est. 3.64 Lakh)
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Total Sales: 4.22 Lakh units, up 5% YoY (Est. 4.26 Lakh)
Bajaj Auto met its expectations, reporting steady growth across its two-wheeler and overall sales.
Eicher Motors
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Royal Enfield: 82,257 units, up 2% YoY (Est. 83,000)
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VECV: 5,574 units, up 7% YoY (Est. 6,400)
Eicher Motors saw a slight miss in both Royal Enfield and VECV sales, falling short of estimates.
Escorts Kubota
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Tractor Sales: 8,974 units, down 9.4% YoY (Est. 7,000)
Escorts Kubota exceeded expectations, despite a YoY decline in tractor sales, reporting a strong performance.
In summary, while November saw growth for some companies, the overall auto sector continues to face pressure due to economic slowdowns and shifting market dynamics. However, players like Maruti Suzuki, Tata Motors, and TVS Motor displayed resilience, with notable performances despite challenges.
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