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Automobiles: Overall sales remained subdued in Aug'12

Reliance Securities | 05 Sep, 2012  | Follow Author | Add to my Favourites 
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Monthly Sales Update - August 2012

Highlights:


- Sales continued to remain subdued in August 2012: Automobile sales were subdued in August 2012. Decline in sales (on y-o-y basis) was witnessed across most of the segments. Ongoing economic slowdown and higher interest rates kept sales under pressure. However, Eicher Motors reported strong performance in both CV and two-wheelers business.

- CV segment growth driven by LCV sales: Tata Motors, the largest CV manufacturer in India, saw a moderate growth of ~5% y-o-y in sales driven by higher sales of LCV. Eicher Motors reported healthy growth of 7.3% y-o-y and 8.5% m-o-m in sales.

- Maruti hit by labor unrest: Tata Motors saw significant growth in sales driven by higher sales of Nano. Mahindra & Mahindra continued to grow owing to higher UV sales. Maruti Suzuki saw sharp decline in sales reflecting the production loss at Manesar plant.

- Two-wheelers sales declined m-o-m for all players:
Two-wheeler sales declined for all the companies on a m-o-m basis reflecting the weakness in the demand environment. Eicher Motors’ Royal Enfield sales sustained 10,000 units mark.

- Three-wheelers sales recovers on m-o-m basis:
Three-wheelers sales for all the companies improved on a m-o-m basis, as exports started showing signs of recovery.

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About Reliance Securities

Reliance Securities, the broking arm of Reliance Capital, is one of the India’s leading retail broking houses, providing customers with access to equities, derivatives, currency, IPOs, mutual funds, bonds, and corporate FDs amongst others. The large array of financial offerings helps customers fulfilling their investment objectives on one platform. Focus on timely & error-free execution represents its core strength. Their best in class research offerings, high degree of compliance with stock exchange regulations, ethical business standards, & strong risk management capabilities; Reliance Securities positions itself amongst strong & innovative brands in the financial services space.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.

 




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