Indian automakers are announcing the May sales figures today. Sales of passenger vehicles and two-wheelers are expected to outshine other categories due to large pending orders and continued recovery in rural markets.
Hero MotoCorp Ltd.'s dispatches to dealerships rose 7% to 5.19 lakh units in May, beating analysts' consensus estimates, which forecasted a decline of over 6% during the month.
TVS Motor Company Ltd.'s total two-wheeler sales rose 11% to 3.19 lakh units in May even as the weakness in the overseas markets continued.
The company sold nearly 18,000 units of its electric scooter iQube in the month, compared with 2,637 units sold last year. It has 30,000 pending orders for the model.
Sales Snapshots (YoY):
Total sales rose 9% to 3.31 lakh units.
Domestic two-wheeler sales rose 32% to 2.53 lakh units.
Tata Motors' CV Sales Fall 12%, PV Dispatches Up 6%
Tata Motors Ltd.'s total wholesale sales fell 2% year-on-year to 73,448 units in May as the sales of commercial vehicles that carry smaller loads fell steeply.
The sales of intermediate, light and medium commercial vehicles slid 38%, while the cargo and pick-up vehicles' dispatches fell 19%.
Sales Highlights (YoY):
Passenger vehicle sales rose 6% to 45,894 units.
Sales of commercial vehicles fell 12% to 28,989 units.
Heavy commercial vehicle sales grew 11% to 8,160 units.
M&M's Passenger Vehicle Sales Grow, Tractor Sales Fall
Mahindra & Mahindra Ltd.'s passenger vehicle sales rose 22% to 32,886 units in May.
"The sales volume for both SUVs and Pik-Ups were restricted by a short-term disruption in engine-related parts at the supplier end. The semiconductor supply constraints on specific parts like Air Bag ECU, continued during the month too,” Veejay Nakra, president of automotive division at the company, said in a statement.
Sales Snapshots (YoY):
Three-wheeler sales jumped 61% to 5,851 units.
Sales of medium duty light commercial vehicles declined 7% to 16,140 units.
Tractor dispatches fell 4% to 34,126 units.
The fall in tractor sales was in-line with analysts' consensus estimates, as high-base of last year and unseasonal rains dragged the number down.
Maruti Suzuki's Dispatches Rise 10% On SUV Sales Boost
Maruti Suzuki India Ltd.'s dispatches to dealerships rose 10% year-on-year to 1.78 lakh units, as higher sales of SUVs offset the weakness in the hatchback segment.
Sales Highlights (YoY):
Domestic sales rose 13% to 1.52 lakh units.
Exports fell 2.6% to 26,477 units.
Sales in mini and compact segment fell 2% to 83,655 units.
Utility vehicle dispatches surge 65% to 46,243 units.
Bajaj Auto Ltd.'s two-wheeler dispatches doubled year-on-year to 1.95 lakh units in May, aided by a low base from last year when chip shortages hit production and sales.
Overall sales, including commercial vehicles, rose 17% to 3.55 lakh units.
Sales Snapshots (YoY):
Total two-wheeler sales rose 23% to 3.08 lakh units.
Two-wheeler exports declined 26% to 1.13 lakh units.
Commercial vehicle sales grew 80% to 47,452 units.
Escorts Kubota Ltd.'s dispatches to dealerships rose 9% year-on-year to 9,167 units in May, beating consensus estimates that predicted a 4.4% fall in sales.
The macroeconomic factors and farmer sentiments remain positive, resulting in a positive sales trend across most geographies, the company said in a filing.
Escorts Kubota May Sales Highlights (YoY):
Domestic sales rose 13.5% to 8,704 units.
Exports fell 38.6% to 463 units.
"Going forward, we expect the current momentum to continue in the near term, led by normal rainfall forecasts, adequate reservoir levels, better liquidity, and consumer credit availability," Escorts Kubota said.
Indian automakers are announcing the May sales figures today.
Sales of passenger vehicles and two-wheelers are expected to outshine other categories due to large pendup orders and continued recovery in rural markets.
Commercial vehicle dispatches are expected to be subdued as consumers advance their purchases in anticipation of a price hike. Tractor sales may also be subdued in line with the low single-digit growth forecast for FY23 by the industry majors.
