In May, India’s automotive industry witnessed mixed sales performance among major automakers. Eicher Motors, the parent company of Royal Enfield, reported a notable increase in motorcycle sales, while exports remained weak. Let’s take a closer look at the sales figures of various automakers during the month.
Eicher Motors Ltd.’s Royal Enfield recorded a remarkable 22% rise in total motorcycle sales, reaching 77,461 units in May. The sales highlights on a year-on-year basis are as follows:
- Sales of models with engine capacity up to 350cc witnessed substantial growth, surging by 28% to 69,038 units.
- However, sales of models with engine capacity beyond 350cc experienced a decline of 14%, reaching 8,423 units.
- Exports faced a significant setback, plummeting by 34% to 6,666 units.
TVS Motor Company Ltd., another prominent player in the Indian automotive market, reported an 11% increase in total two-wheeler sales, with a volume of 3.19 lakh units in May. Despite the growth in domestic sales, overseas markets continued to exhibit weakness. Notably, TVS Motor Company saw a substantial surge in sales of its electric scooter, iQube. The company sold nearly 18,000 units of the iQube in May, compared to 2,637 units sold during the same period last year. Furthermore, the company currently has 30,000 pending orders for this popular model. The year-on-year sales snapshots are as follows:
- Total sales witnessed a 9% rise, reaching 3.31 lakh units.
- Domestic two-wheeler sales experienced a significant upswing of 32%, reaching 2.53 lakh units.
- Two-wheeler exports, on the other hand, declined by 30% to 66,605 units.
- Three-wheeler sales observed a notable increase of 29%, with a volume of 11,314 units.
Tata Motors Ltd., a leading automobile manufacturer, faced a decline in total wholesale sales during May. While passenger vehicle sales showcased a growth of 6%, commercial vehicle sales witnessed a decline of 12%. The sales highlights on a year-on-year basis are as follows:
- Passenger vehicle sales recorded a positive growth of 6%, reaching 45,894 units.
- Sales of commercial vehicles declined by 12%, reaching 28,989 units. Notably, the sales of intermediate, light, and medium commercial vehicles experienced a substantial decline of 38%.
- However, the heavy commercial vehicle segment saw a growth of 11%, with sales reaching 8,160 units.
Ashok Leyland Ltd., a notable player in the commercial vehicle segment, faced a slight decline in dispatches to dealerships in May. The decline of 1% can be attributed to lower sales in the light commercial vehicle segment. The sales snapshots on a year-on-year basis are as follows:
- Sales of medium and heavy-duty vehicles witnessed a positive growth of 4%, reaching 8,270 units.
- However, light commercial vehicle sales experienced a decline of 9%, reaching 4,864 units.
Hyundai Motor India Ltd., a prominent automobile manufacturer, reported a significant rise in dispatches to dealerships during May. The sales growth of 16% was driven by the company’s flagship SUVs, Creta and Venue. The sales highlights on a year-on-year basis are as follows:
- Domestic sales exhibited a notable increase of 15%, reaching 48,601 units.
- Exports witnessed a significant surge of 22.6%, reaching 11,000 units.
Eicher Motors Ltd.’s commercial vehicle arm, VE Commercial Vehicles Ltd., also witnessed positive sales growth in May. Dispatches to dealerships rose by 11.6% year-on-year, reaching 6,289 units. The sales highlights on a year-on-year basis are as follows:
- Domestic sales experienced a notable increase of 16%, reaching 5,826 units.
- However, exports faced a decline of 47%, reaching 250 units.
Mahindra & Mahindra Ltd., a renowned automotive manufacturer, saw contrasting sales performance across different vehicle segments in May. While passenger vehicle sales grew by 22%, tractor sales witnessed a decline of 4%. The sales snapshots on a year-on-year basis are as follows:
- Three-wheeler sales recorded a significant jump of 61%, reaching 5,851 units.
- Sales of medium-duty light commercial vehicles declined by 7%, reaching 16,140 units.
- Tractor dispatches fell by 4%, reaching 34,126 units. This decline was in line with analysts’ expectations due to a high base from the previous year and unseasonal rains affecting sales.
Maruti Suzuki India Ltd., the country’s largest car manufacturer, reported a 10% increase in dispatches to dealerships in May. The growth can be attributed to higher sales of SUVs, which offset the weakness in the hatchback segment. The sales highlights on a year-on-year basis are as follows:
- Domestic sales witnessed a positive growth of 13%, reaching 1.52 lakh units.
- However, exports faced a slight decline of 2.6%, reaching 26,477 units.
- Sales in the mini and compact segment experienced a decline of 2%, reaching 83,655 units.
- Utility vehicle dispatches surged by 65%, reaching 46,243 units.
Bajaj Auto Ltd., a leading two-wheeler manufacturer, demonstrated a remarkable performance in May. Domestic two-wheeler dispatches doubled compared to the previous year, reaching 1.95 lakh units. Overall sales, including commercial vehicles, recorded a growth of 17%, reaching 3.55 lakh units. The sales snapshots on a year-on-year basis are as follows:
- Total two-wheeler sales rose by 23%, reaching 3.08 lakh units.
- However, two-wheeler exports declined by 26%, reaching 1.13 lakh units.
- Commercial vehicle sales observed significant growth of 80%, reaching 47,452 units.
- Total exports faced a decline of 23%, reaching 1.27 lakh units.
Escorts Kubota Ltd., a leading player in the tractor segment, exceeded market expectations in May. Dispatches to dealerships rose by 9% year-on-year, reaching 9,167 units, surpassing consensus estimates that predicted a 4.4% fall in sales. The company attributed this positive trend to favorable macroeconomic factors and positive farmer sentiments. The sales highlights on a year-on-year basis are as follows:
- Domestic sales witnessed a notable increase of 13.5%, reaching 8,704 units.
- However, exports faced a decline of 38.6%, reaching 463 units.