Home Market Overview of Automobiles Sales in July 2023:

Overview of Automobiles Sales in July 2023:

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Overview of Automobiles Sales in July 2023:

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Overview of Automobiles sales in July 2023: As on 1st August 2023, leading automobile manufacturers such as Maruti Suzuki, Toyota Kirloskar, Tata Motors (NS:), Hero MotoCorp (NS:), Bajaj Auto (NS:), and Ashok Leyland (NS:), among others, announced their monthly sales reports.

July saw sluggish sales growth for automakers, with both two-wheeler and passenger vehicle makers witnessing slower dispatches. The tepid demand for smaller cars continued in India’s passenger vehicle market, while the recovery of two-wheelers witnessed a slow start.

Maruti Suzuki Sales

Maruti Suzuki India Ltd. (NS:) saw a 3.25% year-on-year increase in total sales of 1.81 lakh units in July. Strong sales in the utility vehicle category (Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-Cross, XL6), contributed to this growth.

Key sales highlights include a 2.45% growth in domestic sales, totaling 1.59 lakh units, while exports increased by 9.3% to 22,199 units. Notably, the sales for the utility vehicle category stood at 62,049 for July 2023 which was up 166.6% from 23,272 in July 2022, while the mini, compact, and mid-size segment experienced a decline of 26.7% to 78,040 units.

Bajaj Auto’s Sales

In July, Bajaj Auto experienced a 10% drop in total sales, selling 3.19 lakh units, due to persistently weak demand in international markets. The international sales reduced by 18% in July 2023 to 1.4 lakh units as compared to 1.71 lakh units in July 2022.

Year-over-year sales snapshots depict varied performance in different sectors. Total two-wheeler sales experienced a decline of 15% to 2.68 lakh units. However, domestic commercial vehicle sales also showed strong growth, increasing 101% to 37,273 units.

Mahindra and Mahindra (M&M) (NS:) Sales

M&M Ltd.’s passenger vehicle dispatches to dealerships jumped 18% to units 66,124 in July as demand for SUVs remained strong. Utility vehicle sales grew by 30%, rising to 36205 in July 2023 as compared to 27854 in July 2022. Sales for 3-wheelers soared 49% to 6481 units, showing strong market growth. Medium Heavy commercial vehicle sales also grew by 23% rising to 995 units. However, small light commercial vehicles saw an 8% sales drop, settling at 3,400 units.

Eicher Motors (NS:) Sales

In July 2023, Eicher Motors registered sales growth of -1.8% down from 5982 in July 2022 to 5877 in July 2023. LMD (3.5 15T) truck sales rose by 1.8% to 2,759 units compared to 2,709 last year. However, LMD bus sales declined by 13.1% to 1,028 units while HD bus sales surged by 50.5% to 155 units. Despite these variances.

Eicher Motors’ overall domestic sales stayed fairly stable, dipping slightly by 0.9% to 5,311 units from 5,360 units. The company experienced a 15.2% decline in exports, shipping just 425 vehicles compared to 501 in the same period last fiscal year. The steepest drop was a 51% plunge in HD vehicle international sales and a 24.6% decrease in bus exports. However, LMD vehicle exports saw an 8.4% increase in July.

Tata Motors Ltd (NS:) Sales

In July 2023, Tata Motors recorded a total sales figure of 80,633 vehicles across both the domestic and international markets. This figure represented a slight decline of 1.4% compared to the 81,790 units sold in July 2022. The domestic wholesales for Tata Motors in July 2023 saw a slight decrease, with 78,844 units sold compared to 78,978 units during the same month last year.

July 2023 also saw a decline in commercial vehicle sales for Tata Motors. The company sold 32,944 CV units during the month, marking a 4% decrease from the 34,154 units sold in July 2022. This drop can be attributed to various market factors and competition in the commercial vehicle segment.

In contrast to the CV segment, Tata Motors witnessed a positive growth trend in the passenger vehicle category, especially with Electric Vehicles (EVs). The company sold 6,329 units of EVs in July 2023, showing a remarkable 53% increase from the 4,151 units sold in the same period the previous year. This substantial growth highlighted the growing demand for eco-friendly and technologically advanced vehicles.

Ashok Leyland Ltd. (NS:) Sales

Ashok Leyland has recorded an 11% increase in its total sales for July 2023 to 15,068 vehicles, as opposed to 13,625 units in July 2022. The company’s domestic sales witnessed a 12% surge year-on-year from 12,715 units sold in July 2022 to 14,207 units In July 2023.

Ashok Leyland’s domestic truck sales saw a significant boost, exhibiting a remarkable 19% growth. In July 2022, the company sold 6,596 units of trucks, and this number surged to 7,834 units in July 2023. This substantial rise in truck sales reflects the strong demand for commercial vehicles in the country.

Buses sold under the medium and heavy commercial vehicles category exhibited a promising growth of 56% in their sales. In July 2023, the company sold 1,140 units of these buses, compared to 733 units sold in July 2022. This significant surge in sales indicates a positive market reception of Ashok Leyland’s medium and heavy commercial vehicles.

Synopsis:

Industry experts had predicted low growth for the passenger vehicle (PV) sector, as demand, particularly for small cars, remains tepid. To stimulate sales, manufacturers are providing substantial discounts and the wait times for small cars have been reduced. Meanwhile, the two-wheeler market faces a sluggish recovery, partially due to a delayed festive season. Notably, the Medium and Heavy Commercial Vehicle (MHCV) sector is set to experience considerable growth, fueled by infrastructure investments and robust fleet operator profits.

Disclaimer: The report provided is for informational purposes only and should not be interpreted as a proposition to buy or sell any securities.Snapshot of July 2023 Auto Sales data

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