- November is likely to see a gradual ramp in sales, with nearly all auto companies reporting positive sales led by the festive boost
- According to Nirmal Bang estimates, the recovery in the two-wheeler segment was surprising, but the demand during festive season lagged compared to last year.
- Here’s what to expect from Maruti, M&M, Hero, Bajaj Auto, and other automakers in November auto sales.
The festive season has led the road to recovery for the Indian automobile sector in November. Nearly all companies have seen a gradual ramp-up and are expected to report positive sales, all thanks to the festive boost. The month saw strong demand for personal vehicles; however, two-wheelers fell short of expectations during the period.
A Nirmal Bang report highlighted that passenger vehicle (PV) dispatches are likely to improve YoY due to good festive demand, upcoming wedding season, and soft base due to the overlapping of Diwali in November this year.
“Retail demand was strong. Enquiries and bookings witnessed continued momentum and were higher YoY. But, retail deliveries were affected due to lower dispatches during the festive season,” the report said
The recovery in the two-wheeler segment was surprising, but the festive demand lagged compared to last year. “The 2W dealers indicate that retail sales during festivals fell short of expectations and were lower YoY,” the report added.
Here’s what to expect from Maruti, M&M, Hero, Bajaj Auto and other automakers in November auto sales.
Maruti - November auto sales expectations
Maruti Suzuki India | November 2020 (expectations) | November 2019 | YoY (%) |
Domestic sales | 160,978 | 143,686 | 12% |
Exports | 8,333 | 6,944 | 20% |
Total sales | 169,311 | 150,630 | 12.4% |
Source: Nirmal Bang
M&M - November auto sales expectations
Mahindra & Mahindra | October 2020 (expectations) | October 2019 | YoY (%) |
Automotive | 44,991 | 41,235 | 9.1% |
Farm Equipment | 30,496 | 21,032 | 45% |
Total Sales | 75,488 | 62,267 | 21.2% |
Source: Nirmal Bang
Bajaj Auto - November auto sales expectations
Bajaj Auto | November 2020 (expectations) | November 2019 | YoY (%) |
Three-wheeler | 46,892 | 59,777 | -21.6% |
Motorcycle | 394,040 | 343,446 | 14.7% |
Total | 440,932 | 403,223 | 9.4% |
Source: Nirmal Bang
Ashok Leyland - November auto sales expectations
Ashok Leyland | November 2020 (expectations) | November 2019 | YoY (%) |
MHCV | 5,924 | 5,966 | -0.7% |
LCV | 5,893 | 4,209 | 40% |
Total sales | 11,816 | 10,175 | 16.1% |
Source: Nirmal Bang
Eicher Motors - November auto sales expectations
Eicher Motors | November 2020 (expectations) | November 2019 | YoY (%) |
VECV | 3,989 | 3,450 | 15.6% |
Royal Enfield (RE) | 70,000 | 60,411 | 15.9% |
Source: Nirmal Bang
According to Nirmal Bang, in terms of geography, states like UP, MP, Bihar, Jharkhand, and Odisha saw buoyant demand, whereas Delhi, Haryana, Punjab, and Rajasthan witnessed lower YoY sales.
TVS - November auto sales expectations
TVS Motor | November 2020 (expectations) | November 2019 | YoY (%) |
Three-wheeler | 297,972 | 249,350 | 19.5% |
Two-wheeler | 17,639 | 17,232 | 2.4% |
Total | 315,611 | 266,582 | 18.4% |
Source: Nirmal Bang
Hero MotoCorp - November auto sales expectations
Hero MotoCorp | November 2020 (expectations) | November 2019 | YoY (%) |
Motorcycle | 700,230 | 516,775 | 35.5% |
Source: Nirmal Bang
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