October auto sales estimates — Here’s what to expect from Maruti, M&M, Hero, Bajaj Auto, and other automakers

October auto sales estimates — Here’s what to expect from Maruti, M&M, Hero, Bajaj Auto, and other automakers
BCCL
  • The automobile sales in October 2020 are likely to be more strong led by festive demand and normalisation of the supply chain.
  • In the commercial vehicle (CV) space, the LCV/ICV segment is seeing decent recovery driven by demand for last-mile connectivity. But, M&HCV sales continue to be under pressure.
  • Here’s what to expect from Maruti, M&M, Hero, Bajaj Auto and other automakers in October auto sales.
The Indian automobile sector saw a gradual recovery in the quarter ended in September. And the recovery is likely to gain ground in October 2020 are likely to be stronger in anticipation of the festive demand and normalisation of the supply chain, strong sentiments from rural and semi-urban markets and rise in preference for personal mobility.

According to the Nirmal Bang report, original equipment manufacturer commentaries suggest that festivals have started on a good note, and the urban markets are catching up with the recovery. However, analysts noted that the demand continues to be inclined towards the lower end of the segments.

A DART report suggests that commercial vehicle sales that have been subdued due to COVID witnessed a gradual recovery during the early part of the festive season. “Four-wheeler retail sales picked up 20% YoY in the Navratri period on the back of higher preference for personal safety, better financing availability, and improving trend in urban sales. Inventory has come down to 20-25 days’ post-Navratri period, and we visualize stronger momentum in dispatch for Oct & Nov’20.”

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Meanwhile, in the CV space, the LCV/ICV segment has seen a decent recovery driven by demand for last-mile connectivity. But, M&HCV sales continue to be under pressure, led by low fleet utilization and poor financial condition of fleet operators.

The DART report also highlighted that going forward dealers are optimistic of good sales during November on the back of improving inquiries, higher demand from the up-country market and lower interest cost along with lucrative financing offers.

Here’s what to expect from Maruti, M&M, Hero, Bajaj Auto and other automakers in October auto sales.

Maruti October auto sales expectations:
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Maruti Suzuki IndiaOctober 2020 (expectations)October 2019 YoY (%)
Domestic sales163,650144,27713.4%
Exports9,0009,158-1.7%
Total sales172,650 153,435 12.5%
Source: Nirmal Bang

M&M October auto sales expectations:

Mahindra & MahindraOctober 2020 (expectations)October 2019 YoY (%)
Automotive47,40751,896-8.7%
Farm Equipment47,70545,4335%
Total Sales95,11297,329-2.3%
Source: Nirmal Bang

Bajaj Auto October auto sales expectations:

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Bajaj AutoOctober 2020 (expectations)October 2019 YoY (%)
Three-wheeler45,83964,295-29%
Motorcycle447,554398,91312.20%
Total493,393463,2086.50%
Source: Nirmal Bang

Ashok Leyland September auto sales expectations:

Ashok LeylandOctober 2020 (expectations)October 2019 YoY (%)
MHCV4,2625,126-16.8%
LCV5,4414,73115%
Total sales9,7039,857-1.6%
Source: Nirmal Bang

Eicher Motors September auto sales expectations:

Eicher MotorsOctober 2020 (expectations)October 2019 YoY (%)
VECV3,9303,7614.50%
Royal Enfield (RE)70,00071,964-2.70%
Source: Nirmal Bang
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TVS October auto sales expectations:

TVS MotorOctober 2020 (expectations)October 2019 YoY (%)
Three-wheeler15,96715,2075%
Two-wheeler326,455308,1616%
Total342,422323,3686%
Source: Nirmal Bang

Hero MotoCorp October auto sales expectations:

Hero MotoCorpOctober 2020 (expectations)October 2019 YoY (%)
Motorcycle719,098599,24820.00%
Source: Nirmal Bang

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