August auto sales a mixed bag —Maruti records 17% jump, Escorts, M&M post strong tractor sales, while CV players continue to feel the pain
- The Indian automobile sector is now showing signs of improvement.
- After 6 months of slowdown, India’s largest car manufacturer Maruti Suzuki registered 17% growth in overall sales led by a 20% jump in domestic sales.
- The shares of Escorts Motors jumped 5% on back of record sales in August. The tractor manufacturer recorded 80% growth in total sales led by a 9% increase in exports.
- Check out the latest news and updates on Business Insider.
Here’s August monthly auto sales number from Maruti Suzuki, M&M, Escorts, Hero MotoCorp, TVS, Bajaj Auto and others:
After 6 months of slowdown, India’s largest car manufacturer Maruti Suzuki registered 17% growth in overall sales led by a 20% jump in domestic sales. However, the export market continues to remain under pressure.
|Maruti Suzuki India||August 2020 sales||August 2019 sales||Growth %|
The shares of Escorts Motors also jumped 5% on back of record sales in August. The tractor manufacturer recorded 80% growth in total sales led by a 9% increase in exports.
|Escorts||August 2020 sales||August 2019 sales||Growth %|
Mahindra and Mahindra (M&M) registered 16% de-growth in sales in the month of August despite a positive growth in passenger vehicles and commercial vehicles. The overall sales was dragged down by a whopping drop of 94% in the three-wheeler segment. However, the farm equipment segment of M&M remains the bright spot, recording a 65% growth in the month of August.
|Mahindra & Mahindra||August 2020 sales||August 2019 sales||Growth %|
Eicher Motors over all sales plunged 30% with domestic sales taking a massive hit.
|Eicher Motors||August 2020 sales (expected)||August 2019 sales||Growth %|
Ashok Leyland also reported a 52% drop in M&HCV sales. The company recorded a 36% drop in track sales, while bus sales were down 93% compared to the same period last year.
|Ashok Leyland||August 2020 sales||August 2019 sales||Growth %|
The period remained grim for the commercial vehicle as it remains the worst affected segment due to economic slowdown. Along with that, people are still reluctant to use public transport, and the rise in personal mobility can further damage the segment.
Tata Motors also recorded 21.6% growth in overall domestic sales led by 154% growth in the passenger vehicle segment. Meanwhile the domestic commercial vehicles segment saw a decline of 28%.
|Total Domestic Sales||35420||29140||21.60%|
AdvertisementSEE ALSO: In Unlock 4.0, Maharashtra government allow hotels to reopen, eases travel curbs, but schools and colleges remain shut
Top stocks to watch— L&T, Biocon, M&M, PNB, Tata Power, Bharat Earth Movers and others
- Brands like Burberry and Armani as well as online retail help Asia’s second richest man bag record retail profit
- Madhya Pradesh Assembly budget session between Feb 22-Mar 26
- Reliance Industries Oct-Dec 2020 earnings were below estimates
- Reliance Jio’s profit grows 15% but new subscribers are the lowest in 7 quarters
- Popular devotional singer Narendra Chanchal passes away at 80