Tata Motors reports highest passenger vehicle sales in 9 years — Maruti, Ashok Leyland, outperform street expectations
- The actual numbers in the case of Maruti and Ashok Leyland have outperformed the street estimates. However, it failed to meet the expectations for Bajaj Auto.
- The country's largest carmaker Maruti Suzuki India reported a 11.8% increase in wholesales to 1.64 lakh units in February.
- Despite the two-wheelers segment being under pressure, Bajaj Auto saw its two-wheeler sales up 7% compared to the same period last year.
- Check out the latest news and updates on Business Insider.
AdvertisementIndian auto-manufacturers reported a mixed bag of sales in February as the slowing demand and supply chain constraints continued to keep two-wheeler sales under pressure.
The brokerages had already expected two-wheelers sales to see a gradual slowdown. However, the commercial vehicle segment saw a positive turnaround after a long time. The actual numbers in the case of Maruti and Ashok Leyland have outperformed the street estimates. However, it failed to meet the expectations for Bajaj Auto.
Here is February’s auto sales number from Maruti Suzuki, M&M, Escorts, Hero MotoCorp, TVS, Bajaj Auto and others:
Maruti Suzuki reported a 11.8% rise in February sales
The country's largest carmaker Maruti Suzuki India reported a 11.8% increase in wholesales to 1.64 lakh units in February.
Although the company's entry-level cars, Alto and S-Presso, declined by 12.9% compared to the same month last year — Sales of compact segment vehicles, including models Swift, Celerio, Ignis, Baleno and Dzire, increased by 15.3% year-on-year.
|Maruti Suzuki India||February 2021||February 2020||YoY (%)|
Bajaj Auto sales up 6% to 3.75 lakh units in February
Despite the two-wheelers segment being under pressure, the company saw its two-wheeler sales up 7% compared to the year-ago month. The sales growth was led by strong demand in the international market. Bajaj’s total exports rose 13% to 2.10 lakh units.
|Bajaj Auto||February 2021||February 2020||YoY (%)|
Ashok Leyland sales jump 19% to 13,703 units
The Hinduja group flagship firm Ashok Leyland reported an increase of 19% in total vehicle sales in February as the commercial vehicles segment showed positive signs after recovering from the coronavirus slowdown.
The medium and heavy commercial vehicles (M&HCV) sales in the domestic market were up 5%, and the light commercial vehicle (LCV) sales in the domestic market were up 46%.
|Ashok Leyland||February 2021||February 2020||YoY (%)|
Mahindra & Mahindra sales grow 3.3% in February
The Tractor sales continued marching in a positive trajectory, with M&M posting double-digit growth in February. The farm equipment segment recorded 19.8% growth leading to the overall growth of 3.3%.
The shares of M&M were trading 3% higher at 1:40 pm on Monday, after the company reported its monthly sales.
|Mahindra & Mahindra||February 2021||February 2020||YoY (%)|
Tata Motors reports highest passenger vehicle sales in nearly 9 years
Tata Motors reported a 54% year-on-year increase in total domestic sales led by strong demand for its passenger car and a revival of the commercial vehicle segment. The company said the car sales were the highest ever in at least 9 years.
The shares of Tata Motors were trading 3% higher at 3:00 pm on Monday, after the company reported its monthly sales.
|Tata Motors||February 2021||February 2020||YoY (%)|
TVS three-wheeler segment continues to bear the brunt
TVS Motors reported 18% year-on-year growth in February-led by strong growth in the two-wheeler segment. The company which sells Apache and Jupiter saw its sales jump nearly 21% in the segment.
|TVS Motor||February 2021||February 2020||YoY (%)|
SEE ALSO: SIMPLY PUT: Here is how to register and what documents to carry for the COVID-19 vaccination drive from March 1
EXPLAINED: The NUE licence for payments that Tata, Ambani and Bezos have applied for
Popular on BI
- A 29-year-old woman found a mark on her head and was diagnosed with a fungal infection. It turned out to be invasive skin cancer.
- Elon Musk told his 76-year-old dad Errol to 'keep quiet' in a text message after he said he wasn't proud of his son, report says
- JPMorgan CEO Jamie Dimon told wealthy clients there's a chance the US is heading into 'something worse' than a recession, report says
- Nepotism and termite-like corruption dented India : Modi
- Modi lists five pledges to turn India into a developed country in 25 years
- There will be a major shift in the way Indians shop and consume brands
- Modi remembers Nehru and Sarvarkar in his speech today
- Made-in-India gun used for 1st time for ceremonial salute at Red Fort on Independence Day