Auto Sales In May 2022: Bajaj Auto Volumes Fall 11%, Hero MotoCorp Rises 16%
Track the May 2022 auto sales highlights here.
Hero MotoCorp Registers 16.26% Growth
India's largest two-wheeler manufacturer, Hero MotoCorp Ltd. sold units 4,86,704 units in May, registering a growth of 16.26% over the last month, the company said in an exchange filing.
The sales rose 166% over the same period last year due to a low base amid curbs imposed to restrict the second wave of Covid-19.
Sales Snapshot (M-o-M)
Motorcycle sales rose 15.18% to 4,52,246 units.
Scooter sales rose 32.5% to 34,458 units.
Exports fell .05% to 20,238 units.
Honda Motorcycle and Scooter India Sells 3.53 Lakh Units
Honda Motorcycle and Scooter India posted an overall sales of 3,53,188 units in May, registering a fall of 2.17% over the preceding month, the company said in the statement.
Year-on-year, the company added the sales are incomparable as frequent lockdowns in wake of second wave marred the performance during this period last year.
M&M Auto Sales Rises 15.44%, Tractor Stumbles
Mahindra and Mahindra Ltd.'s auto segment posted an overall sales of 53,726 units in May, registering a 15.44% growth over the preceding month, even as the company continue to closely monitor the chip crunch.
The sales rose 208% over the year earlier due to a low base amid curbs imposed to restrict the second wave of Covid-19.
M&M's total passenger vehicle sales rose 19.4% over the preceding month to 26,904 units on demand for its new launches.
The company said while demand across its products is robust with strong booking numbers and pipeline, supply-chain related issues continue to constraint volumes.
The farm equipment segment, however, fell 12.74% over the last month to 35,722 units.
Maruti Suzuki Sells 1.61 Lakh Units In May
The country's largest carmaker, Maruti Suzuki India Ltd., reported a 7.14% rise in sales even amid the chip shortage.
The company sold 1,61,413 units in May 2022 compared with 1,50,661 in April. Maruti's sales rose 246% over the year earlier due to a low base.
Sales Snapshot (MoM)
Exports rose 47% to 27,191 units.
Mini and compact vehicle segment sales rose 12% to 85,355 units.
Utility vehicle sales fell 17.4% to 28,051 33,941 units.
Tata Motors' Sales Rise
Sale of Tata Motors Ltd.'s passenger vehicle segment rose 4.2% over the preceding month to 43,341 units in May 2022, according to an exchange filing.
Overall, Tata Motors' sales rose 3.1% to 74,755 units.
Tata Motor's commercial vehicle sales rose 5.13% to 31,414 units.
Volvo Eicher Commercial Vehicle Sales Rise 2%
Total sales of Volvo Eicher Commercial Vehicles, the commercial vehicle arm of Eicher Motors Ltd., rose 2.03% over the preceding month to 5,637 units in May, the company said in an exchange filing.
Year-on-year, the sales rose 361% due to low base amid curbs imposed to restrict the second wave of Covid-19.
Sales Snapshot (MoM)
Domestic sales rose 5.6% to 5,637 units.
Exports fell 28% to 650 units.
Ashok Leyland Sales Rise 12.04%
Total sales of Ashok Leyland Ltd. rose 12.04% over the preceding month to 13,273 units in May, according to the commercial vehicle maker's exchange filing.
The sales rose sharply over a year earlier because of a low base.
Sales Snapshot (M-O-M)
Light commercial vehicle sales rise 28% to 5,328 units.
Total sales of M&HCV sales rise 3.34% to 7,945 units.
Escorts Sales Rise Marginally
Escorts Ltd.’s tractor sales rose sharply over last year, but rose marginally over the preceding month.
Tractor sales rose 1.15% month-on-month to 8,421 units, and rose 31.1% over the last year, the company said in an exchange filing. It sold 7,667 and 754 units in the domestic and overseas markets, respectively.
The company, however, see rural sentiment gradually improving inspite of low crop yields due to extreme heat conditions this harvest season, on account of better crop price realization and forecast of normal rainfall and possible timely sowing this year.
Bajaj Auto Two-Wheeler Sales Rise, Exports Fall
Bajaj Auto Ltd.'s sales rose 1.5% year-on-year, but fell 11.23% over the preceding month to 2,75,868 units in May as exports fell, according to its exchange filing.
Sales Snapshot (M-O-M)
Domestic two-wheelers sales up 2.98% to 96,102 units.
Commercial vehicles sales down 9.2% to 26,369 units
Two-wheeler exports down 19% to 1,53,397 units.
Shares of Bajaj Auto fell over 3.5%, the most in four weeks in early trading on Wednesday. Trading volume was nearly twice the 30-day average.
Of the 53 analysts tracking the company, 39 maintain a 'buy', 10 suggest a 'hold' and four recommend a 'sell', according to Bloomberg data. The return potential of the stock is 10%.
Sales in most segments of India's automotive industry is expected to improve marginally in May 2022 as supply constraints start to ease.
Factory-gate shipments of carmakers, barring Tata Motors Ltd., rose month-on-month in May, according to data compiled from research reports of Nomura, Emkay Global, Jefferies, and Motilal Oswal.
Wholesales rose sharply over a year earlier because of a low base of last year due to the second wave-induced lockdown in the country.
Two-wheeler sales volumes in May are expected to rise over the previous month, aided by the marriage season in north India and higher demand from salaried consumers.
Here's a look at the auto sales in May 2022, as reported by the companies:
