A Tata Motors Ltd. logo sits on glass on the company’s stand on the second day of the 87th Geneva International Motor Show in Geneva, Switzerland. (Photographer: Chris Ratcliffe/Bloomberg)
7 years ago
Jul 02, 2019
Catch live updates on how Indian automakers fared in the month of July.
Hero MotoCorp Ltd. said its sales in June were down 12 percent to 6,16,526 lakh units from 7,04,562 lakh units in June 2018.
It also added in its exchange filing that this was the second consecutive month this fiscal when the company had clocked six-lakh plus monthly sales. The company sold 6,52,028 lakh units last month.
Tata Motors Ltd.'s domestic sales continued to be affected by subdued demand and fell 14 percent on a yearly basis to 49,073 units.
Cumulative sale in the April-June period declined 20 percent to 131,879 units compared to the year-ago period, the company said in an exchange filing.
Commercial vehicles sales in June were down 7 percent over last year to 35,722 units.
Passenger vehicles sales plunged 27 percent from the year-ago period to 13,351 units. The company attributed the dip in sales to low customer sentiments owing to a liquidity crunch but said that it expects the market to “bounce back soon.”
“ The slowing down of the economy is hurting overall customer sentiments and causing an impact on demand for fresh vehicles,” the company said in its exchange filing.
It also said sales from exports in June were at 2,702 units, plunging 48 percent over last year due to drop in retails in Bangladesh, Nepal and the middle-east markets.
Mahindra & Mahindra Ltd.’s auto sales fell 6 percent on a yearly basis last month while its tractor sales fell 18 percent, according to its stock exchange filing.
Key Sales Highlights (YoY):
Passenger vehicle sales rose 4 percent to 18,826 units.
Utility vehicle sales rose 8 percent to 17,723 units.
Sales of cars and vans including company’s unit Mahindra Electric Mobility Ltd. fell 36 percent to 1,103 units.
Commercial vehicle sales fell 15 percent to 16,394 units.
Light commercial vehicle sales up to 3.5T fell 13 percent to 14,863 units.
Sales of mini segment fell 36.2 percent to 18,733 units.
Sales of compact segment fell 12.1 percent to 62,897 units.
Sales of Ciaz rose 47 percent to 2,322 units.
Sales of utility vehicles declined nearly 8 percent to 17,797 units.
Sales of Vans fell 24 percent to 9,265 units.
Sales of Super Carry rose 24 percent to 2,017 units.
Sales to domestic original equipment manufacturers stood at 1,830 units.
Total domestic passenger vehicle sales fell 17.2 percent to 1.11 lakh units.
Total domestic sales fell 15.3 percent to 1.15 lakh units.
Total exports rose 5.7 percent to 9,847 units.
The sales of new WagonR are reported under compact segment and the the sales number of old discontinued WagonR are however, reported in the mini sub-segment effective February 2019, the company said. Also, from effective April 2019, sales to other original equipment commenced and are included in domestic and exports.
Shares of the company pared early gains and traded flat at Rs 6,544.
