Auto sales for the month of August clocked growth of 17% y-o-y

SPA Securities | Oct. 28, 2016, midnight

Auto sales for the month of August clocked growth of 17% YoY led by 20% YoY growth in 2 wheelers and 12% growth in PV sales. CV sales stood flat and 3 wheeler sales declined by 15% YoY, but registered a growth of 1% on a MoM basis. Although exports of Bajaj Auto and TVS Motors have recovered from the lows (up 17%), but still the declining trend in export continues due to lack of availability of dollar denominated currency in certain export geographies of Latin America and Africa. In the CV segment, M&HCV sales declined by 10% YoY whereas LCV grew by 8% YoY. Tractor manufacturers have reported double digit growth in monthly sales.

 

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