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

• 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.”

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:
Source: Nirmal Bang

M&M October auto sales expectations:

Source: Nirmal Bang

Bajaj Auto October auto sales expectations:

Source: Nirmal Bang

Ashok Leyland September auto sales expectations:

Source: Nirmal Bang

Eicher Motors September auto sales expectations:

Source: Nirmal Bang

TVS October auto sales expectations:

Source: Nirmal Bang

Hero MotoCorp October auto sales expectations:

Source: Nirmal Bang

SEE ALSO: Cricketer Yuvraj Singh invests in nutrition-based healthtech startup Wellversed

The Big 4 tech companies — Amazon, Apple, Facebook, and Google — blew past Wall Street estimates in their latest-quarter earnings reports