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Auto sector closes FY11 with a bang

Sharekhan | 01 Apr, 2011  | Follow Author | Add to my Favourites 
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Gravity-defying volume growth; shocking and surprising optimism: Indian consumers lapped up a record number of mobility machines in March 2011, defying the threat from macro head winds.

The automobile volumes grew strongly across the
board led by passenger cars, commercial vehicles and two-wheelers. Most segments reported a higher doubledigit growth y-o-y and mid single digit growth m-o-m.

Exciting products
and great choices have added aspirational value whereas higher discounts and deteriorating public infrastructure have lured many more into owning an automobile.

Key takeaways from March 2011 report card:

- Maruti Suzuki reported the highest ever monthly volume,
reporting a growth of 28% y-o-y and that of 9% m-o-m in its overall sales. Its exports grew over the previous month as the company expanded its reach across the non-European regions.

- For Tata Motors, its medium and heavy commercial vehicle
(M&HCV) volumes were strong with a m-o-m growth of 32%. However, passenger car sales disappointed with a 4% decline.

- Mahindra and Mahindra (M&M) saw a strong m-o-m growth of 14% in UVs primarily driven by Bolero. The three-wheeler segment surprised positively again with a 32% y-o-y growth.

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