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.
Read more here:
Escorts Ltd. sold 13,353 tractors last month, an increase of 1.6 percent from the year-ago period, according to its exchange filing.
Key Highlights (YoY)
- Domestic sales rose 1.3 percent to 13,034 units.
- Export jumped 16.8 percent to 319 units.
Ashok Leyland Ltd.’s sales fell 35 percent to 9,857 units in October, according to its stock exchange filing.
Key Sales Highlights (YoY)
- Domestic medium and heavy commercial truck sales fell 59 percent to 3,335 units.
- Domestic medium and heavy commercial bus sales rose 31 percent to 1,230 units.
- Total domestic medium and heavy commercial vehicle sales declined 50 percent to 4,565 units.
- Domestic light commercial vehicle sales fell 15 percent to 4,509 units.
- Total domestic vehicle sales fell 37 percent to 9,079 units.
Sales Including Exports (YoY)
- Total medium and heavy commercial truck sales fell 59 percent to 3,526 units.
- Total medium and heavy commercial bus sales rose 31 percent to 1,600 units.
- Total medium and heavy commercial vehicle sales fell 48 percent to 5,126 units.
- Total light commercial vehicle sales fell 35 percent to 9,857 units.
Shares of the truck and bus maker fell as much as 1.4 percent to Rs 75.70 after the announcement.
Tractor Sales Fall 4%
Its tractor sales fell 4 percent year-on-year to 45,433 units.
- Domestic tractor sales declined 4 percent to 44,646 units.
- Tractor exports fell 26 percent to 787 units.
Number of vehicles sold by busmaker fell 28 percent to 515 units, according to its exchange notification.
Shares of the company surged nearly 3.4 percent intraday to Rs 567 apiece after the sales announcement.
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.
Motorcycle sales rose 2 percent to 71,964 units for the month of October, according to its exchange filing.
- Sales of models with engine capacity up to 350cc fell 5 percent to 64,257 units.
- Sales of models with engine capacity over 350cc more than doubled to 7,707 units.
- Exports shot up 10-fold to 4,426 units.
The shares closed 2.5 percent down at Rs 21,976.15 each.
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.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
