Auto stocks trade mixed after August sales data; Hero MotoCorp up over 2%

Even as the headline Nifty index continued its rally for the 13th straight day and clocked a fresh record high, Nifty Auto index traded weak given the mixed sales number of the previous August month.

At the last count, shares of Hero MotoCorp, Balkrishna Industries, Bajaj Auto traded with gains, while few others including Maruti Suzuki held into the green with minor gains.

August sales review

The passenger vehicles or PV segment confronted pressure on the back of increased inventory level and soft demand. Nonetheless, given the better SUV and product mix, M&M is leading the space.

Company                  Sales Growth

M&M                                 +9%

Maruti Suzuki                   -4%

Tata Motors                     -3%

Maruti Suzuki in the passenger segment has logged the weakest August month with domestic PV sales declining 8 per cent. The company's shares last traded at Rs 12,419, up 0.4 per cent.

Also, the sales in the CV segment also remained subdued. Tata Motors for the August month saw its CV sales in the domestic market decline by a sharp 16 per cent.

2W sector has though maintained its mojo and outperformed auto space

 2W segment during the review period has outperformed the space amid better demand from the rural markets.

Furthermore, the EV space also continues to log with the EV registration slumping to its 14-month low. The fall has been witnessed across the space with both E-2W and E-3W recorded a decline in month-on-month sales.

Company            Aug-24           July-24          % fall

Ola Electric          12,628            18,602            31.7%

TVS Motor            9,514             11,555             17.7%

Bajaj Auto             4,899               7,797             37.1%