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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 comes from the house of Reliance Capital, one of India’s leading & prominent financial houses. Founded in 1986, Reliance Capital has come a long way from being into steady annuity yielding businesses such as leasing, bill discounting, and inter-corporate deposits to diversifying its activities in the areas of asset management and mutual fund; life and general insurance; consumer finance and industrial finance; stock broking; depository services; private equity and proprietary investments; exchanges, asset reconstruction; distribution of financial products and other activities in financial services.


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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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