Hero MotoCorp bike. (Photographer: Prashanth Vishwanathan/Bloomberg)
6 years ago
Nov 01, 2019
October Auto Sales Update | Catch live updates on how many units did Maruti Suzuki, Hero MotoCorp, Bajaj Auto, Tata Motors, Eicher Motors, Royal Enfield, Ashok Leyland, Escorts, Hyundai Motors and TVS Motor sold in October 2019 on BloombergQuint.
Retail sales of cars and two-wheelers rose, and inventory fell in October as deep discounts lured buyers to showrooms during the festive season, according to a BloombergQuint survey.
Demand mainly picked up from the second half of Navratri, or the nine days leading to Dussehra, considered auspicious for buying, the survey of nine large dealerships across India revealed.
TVS Motor Company Ltd. sold 3.23 lakh units last month a fall of 19 percent from October 2018, the Chennai-based company said in a stock exchange filing.
Key Sales Highlights (YoY)
Two-wheeler sales fell 20 percent to 3.08 lakh units.
Domestic two-wheeler sales fell 25 percent to 2.52 lakh units.
Scooter sales fell 20 percent to 1.21 lakh units.
Motorcycle sales fell 17 percent to 2.53 lakh units.
Three-wheeler sales rose 8 percent to 15,207 units.
Two-wheeler exports rose 22 percent to 55,477 units.
Overall exports rose 20 percent to 69,339 units.
The stock traded 4.8 percent lower at Rs 463.20 after the announcement.
Eicher Motors Ltd.’s VE Commercial Vehicles’ sales stood at 3,755 units, a drop of 37.5 percent from the same period last year, according to its stock exchange filing.
Tata Motors Ltd. sold 41,354 units last month, a fall of 33 percent from the year-ago period, according to its stock exchange notification. The company will continue its focus on system stock reduction as we prepare for the BS-VI transition, the firm said in an exchange filing. “Overall system stock is now at a multi-quarter low, which coupled with increasing enquiries, and the government's thrust on infrastructure investments, will help firm-up volumes and realisations in the coming month.”
Key Highlights (YoY)
Total passenger vehicle sales fell 28 percent to 13,169 units.
Total commercial vehicle sales down 36 percent to 28,002 units.
Commercial vehicle exports fell 54 percent to 2,019 units.
Domestic medium and heavy commercial truck sales fell 63 percent to 4,893 units.
Shares declined 3 percent to close at Rs 172.40 each ahead of the sales update.
Hero MotoCorp sales fell 19 percent to 599,248 units, according to its exchange filing. The company also reported 12.84 lakhs in terms of retail sales clocked last month, the filing said.
