Tata Motors, Maruti Suzuki, and Bajaj Auto down after automakers report mixed December sales numbers

Auto shares are struggling on BSE on Tuesday (January 2, 2024) a day after reporing mixed results for their December sales numbers. Most of the leading auto companies also failed to meet Zee Business research estimates. While Tata Motors outperformed research estimates in the personal vehicle (PV) category, TVS Motor met the estimates in the two-wheeler catrgory.

The sales of tractors were low in the month gone by. Among all segments, the commercial segment outperformed research estimates. 

A day after the annoiuncement of December vehicle sales numbers, ZeeBiz takes you through the performance of the leading auto stocks.

All sales numbers given below are on a basis of Year-on-Year (YoY).

Tata Motors 

Tata Motors was down by 0.68 per cent, or Rs 5.40, at Rs 785.10, at 10:24 am on Tuesday despite reporting above-estimate sales numbers for December.

Tata Motors clocked better than Zee Business research estimates sales numbers, as its commercial vehicle sales increased by 1 per cent, from 33949 to 34180 YoY, against the estimates of 32468.

In the domestic vehicle segment, the automaker saw a jump of nine per cent to 43470 from 40043 against an estimate of 40708.

Maruti Suzuki 

The stock of the automaker was down by 0.20 per cent, or Rs 21.05, at Rs 10260, in morning deals on Tuesday. 

The company reported below-estimate numbers as its sales in the personal vehicle segment dipped by one per cent to 137551 from 139347, below estimates of 144376.

M&M

Mahindra and Mahindra dipped by 2.44 per cent, or Rs 41.55, at Rs 1662.05, in the morning session on Tuesday after the company's sales numbers for December were below estimates. 

The automaker's sales in the auto segment jumped by six per cent to 60188 from 56677 against the estimates of 66962.

The sales in the tractor segment, on the other hand, declined by 18 per cent to 19138 from 23243 against the estimates of 23087.

Bajaj Auto 

Bajaj Auto also traded on a poor note as it was down by 1.46 per cent, or Rs 97.55, at Rs 6603.00 after reporting below-estimate numbers.  

The automaker's sales in the two-wheeler category soared by 15 per cent to 283001 from 247052 against the estimates of 32059.

Its overall sales in December jumped by 16 per cent to 326806 from 281514, which was lower than the research estimates of 360161. 

Eicher Motors 

Eicher Motors was also trading lower by 2.98 per cent, or Rs 120.30, at Rs 3915.00 after the company reported mixed sales numbers for December.

Its VE commercial vehicle sales were better than research estimates of 7055 as the jumped by 11 per cent to 8026 from 7221.

The sales of Royal Enfield, however saw a dip of seven per cent to 63387 from 68400 against the estimates of 73436.

TVS Motor

TVS Motor was trading as low as 3.20 per cent, or Rs 64.65, at Rs 1954.65, after it cloked its December numbers largely in line with estimates.

The sales of two-wheelers skyrocketed by 27 per cent to 290064 from 227666 against the estimates of 292523. 

Its toal vehicle sales also soared by 25 per cent to 301898 from 242012. It was, however, lower than reserach estimates of 305217. 

Escorts Kubota

Escorts Kubota is also trading lower by 1.68 per cent, or Rs 49.95, at Rs 2917.20, in morning deals on Tuesday after reporting below-estimate numbers.

The company's sales of tractor saw a dip of 19 per cent to 4536 from 5573. It was below the estimates of 5661.