Auto Sales In February 2024: Maruti Suzuki's Dispatches Rise 15% Led By SUVs, Exports

Maruti Suzuki India Ltd.'s dispatches rose 15% to 1.97 lakh units in February as exports jumped and utility vehicle sales maintained a healthy momentum.

Sales Snapshots (YoY):

• Total domestic dispatches rose 9% to 1.69 lakh units.

• Sales in mini and compact segment fell 15% to 86,409 units.

• Utility vehicle sales grew 83% to 61,234 units.

• Exports jumped 68% to 28,927 units.

Eicher Motors Ltd.'s subsidiary VE Commercial Vehicle Ltd.'s dispatches to dealerships rose 1.9% to 7,424 units.

Sales Highlights (YoY):

• Domestic sales rose 1.9% to 6,930 units.

• Exports grew 5% to 316 units.

TVS Motor Co.'s two-wheeler sales rose 34% year-on-year to 3.58 lakh units in February as local dispatches jumped and exports nearly doubled.

Sales Highlights (YoY):

• Total sales rose 33% to 3.68 lakh units.

• Domestic two-wheeler sales grew 21% to 2.68 lakh units.

• Two-wheeler exports jumped 98% to 90,308 units.

• Three-wheeler sales rose 16% to 10,614 units.

Ashok Leyland Ltd.'s dispatches fell 6% to 17,464 units in February as sales of trucks fell with orders slowing down before general elections.

Sales Highlights (YoY):

• Total medium and heavy commercial vehicle sales fell 10% to 11,369 units.

• Light commercial vehicle sales rose 3% to 6,095 units.

Tata Motors Ltd.'s total dispatches to dealerships rose 9% to 84,834 units in February with rise in passenger vehicle sales offsetting the decline in commercial vehicle dispatches.

Sales Highlights (YoY):

• Passenger vehicle sales grew 19% to 51,321 units.

• Electric passenger vehicle sales rose 30% to 6,923 units.

• Total commercial vehicle sales fell 4% to 35,085 units.

• Heavy commercial vehicle sales fell 15% to 10,091 units.

• Small commercial cargo and pickup vehicle sales declined 4% to 13,701 units.

Eicher Motors Ltd.'s total motorcycle sales rose 6% even as the dispatches in the below 350cc segment were muted.

Sales Snapshots (YoY):

• Sales of models with engine capacity up to 350cc rose 2% to 66,157 units.

• Sales of models with engine capacity exceeding 350cc rose 45% to 9,778 units.

• Exports rose 13% to 8,013 units.

Mahindra & Mahindra Ltd.'s total sport utility vehicle dispatches to dealerships surged 40% to 42,401 units in February. The tractor sales fell as southern and western states faced stress due to erratic and deficient monsoon, the company said in an exchange filing.

"However, Rabi crop outlook is very good, with wheat crop likely to be a bumper crop," Hemant Sikka, president of farm equipment sector, said in statement.

Sales Highlights (YoY):

• Sales of medium duty light commercial vehicles fell 8% to 15,779 units.

• Three-wheeler sales rose 15% to 6,158 units.

• Tractor sales fell 16% to 21,672 units.

Escorts Kubota Ltd.'s dispatches to dealerships fell 17% year-on-year to 6,481 units in February as lingering issues of uneven monsoon, insufficient rainfall and diminished reservoirs impacted Kharif output, the company said in an exchange filing.

Expected improvements in the Rabi harvest and early signs of a normal monsoon next year may improve overall sentiments and drive an uptick in tractor sales in the next fiscal, the tractor maker said.

Sales Highlights (YoY):

• Domestic sales fell nearly 17% to 6,041 units.

• Exports declined 22% to 440 units.

Indian automakers are announcing their February sales figures on Friday.

Auto dispatches to dealerships suggest the recovery in two-wheeler sales continued in February, led by mass segments. A double-digit growth in wholesales and stable demand at the retail level indicate sustained recovery.

Passenger vehicle sales continued to be led by SUVs, despite declining orderbooks and higher discounts.

Tractor and commercial vehicle sales in the month remained weak as order inflows slowed down before the general elections.