India Markets

May Auto Sales: companies posted negative growth due to slowdown

The country’s largest carmaker Maruti Suzuki India Limited (MSIL) Saturday reported a 25% decline in domestic wholesale volumes at 123250 units in May. Sales declined for the third consecutive month, the most since August 2012.

This declines are the most in nearly eight years, as India largest carmaker continued to grapple with a consumption slowdown for a third straight month in a row.

Maruti Suzuki Key sales highlights (YoY):

  • Sales of mini segment fell 56.7 percent to 16,394 units.
  • Sales of compact segment fell 9.2 percent to 70,135 units.
  • Sales of Ciaz fell 10 percent to 3,592 units.
  • Sales of utility vehicles fell 25.3 percent to 19,152 units.
  • Sales of Vans rose 29.7 percent to 11,745 units.
  • Sales of Super Carry rose 4,551 percent to 2,232 units.
  • Total domestic passenger vehicle sales fell 

M&M sales reports:

Meanwhile, homegrown auto major Mahindra & Mahindra (M&M) registered 1% drop in monthly sales at 20608 units in May. Rajan Wadhera, President, Automotive Sector, M&M Ltd. said, “While consumer sentiment and demand continued to be subdued during the pre-election phase, our focus has been on correcting the channel inventory. Now, with a stable government at the centre and the forecast of a near normal monsoon, we hope to see an improvement in consumer sentiment over the next few months.

M&M Key sales highlights (YoY):

  • Passenger vehicle sales fell 1 percent to 20,608 units
  • Utility vehicles sales rose 1 percent to 19,524 units
  • Sales of cars and vans including sales in subsidiary of Mahindra Electric Mobility Ltd. fell 24 percent to 1,084 units
  • Commercial vehicle sales fell 5 percent to 17,879 units
  • Medium and heavy commercial vehicle sales fell 45 percent to 637 units
  • Total domestic sales fell 2 percent to 43,056 units
  • Total exports fell 22 percent to 2,365 units

M&M Tractor sales highlights (YoY)

  • Domestic tractor sales fell 17 percent to 23,539 units.
  • Tractor sales rose 3 percent to 1,165 units.

Escorts sales down 18% in May

Escorts Ltd. sold 6,827 tractors last month, a fall of 18 percent from the year-ago period, according to its exchange filing.

Escorts Key Highlights (YoY):

  • Domestic sales declined 19.8 percent to 6,488 units.
  • Export sales jumped 42.4 percent to 339 units.

Eicher Motors’ Commercial Vehicles Unit Sales Fall 20%

VE Commercial Vehicles Ltd., a subsidiary of Eicher Motors Ltd. sales fell 19.7 percent on a yearly basis to 4,801 units last month, according to its stock exchange filing.

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