September auto sales show Indian auto manufacturers are almost back at pre-COVID levels — commercial vehicles continue to lag
- Maruti Suzuki registered 30% year-on-year growth in overall sales, led by a 31% jump in domestic sales.
- The slowdown in M&M sales was largely offset by the farm equipment segment, which recorded stellar growth of 17%.
- Bajaj Auto recorded its highest ever exports in September 2020.
According to analysts, the sales in festive-centric Southern markets at the start of the month also offset the lower retail sales in the northern and western markets due to two inauspicious periods during the time of Shraadh and Adhik Maas.
September monthly auto sales number from Maruti Suzuki:
After nearly seven months of slowdown, India’s largest car manufacturer Maruti Suzuki, registered 30% year-on-year growth in overall sales led by a 31% jump in domestic sales. The export market, which continued to remain under pressure until August, also saw green shoots of recovery and registered over 9% year-on-year growth.
|Maruti Suzuki India||September 2020||September 2019||YoY (%)|
However, the situation remained grim for Mahindra & Mahindra — as its automotive segment, which includes commercial vehicles, recorded a 17% downfall. The slowdown in M&M sales was largely offset by the farm equipment segment, which recorded stellar growth of 17% on the back of a strong Kharif crop season. The company remains optimistic about the upcoming festive season.
“Retail demand continued to be buoyant backed by a very good monsoon, higher kharif acreage and continued government support, including higher MSPs for key crops. We are looking forward to a very robust demand for the festive season ahead,” said Hemant Sikka, president- farm equipment sector, Mahindra & Mahindra.
September monthly auto sales number from Mahindra & Mahindra:
|Mahindra & Mahindra||September 2020||September 2019||YoY (%)|
Bajaj Auto’s commercial vehicle segment also reflected similar pessimism— the sales of Bajaj Auto’s CV were down 44%, with the domestic sales taking a massive hit. However, Bajaj logged in record exports in the two-wheeler segment, which partly offset the slowdown due to CVs.
According to analysts, the situation for the commercial vehicle segment remained grim due to the pessimism around public transport, economic slowdown, excess capacity, and limited driver availability.
AdvertisementSeptember monthly auto sales number from Bajaj Auto:
|Bajaj Auto||September 2020||September 2019||YoY (%)|
The sales numbers from Hero MotoCorp, Eicher Motors and Ashok Leyland are awaited.
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