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Automobiles: Two-wheeler sales in July'12 were disappointing

Nirmal Bang | Published: 03 Aug, 2012  | Source : ValueNotes.com | Follow Author | Add to my Favourites


Two-wheeler sales in July 2012 were disappointing, with major two-wheeler companies reporting a fall in sales. Car sales were mixed, with a few companies posting better-than-expected numbers and others coming out with dismal numbers.

Highlights:

- MSIL reported a 9.2% YoY growth in sales on account of low base due to a strike at its Manesar plant in June 2011. On MoM basis, sales declined 14.9% due to the current lockout at this plant. Meanwhile, the impact of the ongoing lockout was partly visible in July 2012 sales as the company had an inventory of ~10 days.

- Hyundai Motors India reported a modest 6.4% YoY growth in sales, driven by 7.6% YoY rise in domestic market. Exports were up by 5.1% YoY.

- Tata Motors posted a 15.3% YoY growth in sales
led by higher sales of passenger cars, LCVs and UVs which grew 48.0%, 15.0% and 59.4%, respectively, YoY.

- Sales of Ford India, Honda Siel, and GM India continued their sluggish trend
, with these companies witnessing a YoY fall in sales by 16.9%, 7.2% and 23.4%, respectively.

- Toyota-Kirloskar Motors posted single-digit rise in sales (7.2% YoY) with the high-base effect catching up. Nissan India’s sales grew 118.5% YoY following a low base.

- In two-wheelers, market leader Hero MotoCorp’s sales fell below 500,000 units after a period of 11 months, down 1.4% YoY.

- TVS Motor posted a steep decline in sales by 15.1% YoY. Both domestic and export sales were down 12.2% and 32.8%, respectively, YoY.

- Bajaj Auto reported a 5.4% YoY decline in sales because of lower exports, which were down 12.8% YoY. Three-wheeler sales were down 22.6% YoY, but up 31.8% MoM.

- Honda Motors & Scooters India (HMSI) reported a 56.9% YoY growth in sales driven by higher motorcycle sales, up 80.3% at 152,382 units.

- Ashok Leyland’s and Eicher Motors’ MHCV sales were down 10.9% and 13.2%, respectively, YoY.

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