November auto sales: Bajaj Auto, Escorts, M&M tractor segment shine, while Maruti posts a subdued show

• Indian auto-manufacturers have witnessed a sharp turnaround from the COVID-19 led slowdown, all thanks to a strong boost from good festive demand.
• Maruti Suzuki India reported a 1.7% increase in total sales to 153,223 units in November this year.
• Bajaj Auto reported a 5% increase in total sales to 4,22,240 units in November this year.
• Escorts Agri Machinery reported a 33% rise in tractor sales to 10,165 units for November 2020.

Indian auto-manufacturers have witnessed a sharp turnaround from the COVID-19 led slowdown earlier this year, primarily due to a strong boost from good festive demand, upcoming wedding season, and soft base due to the overlapping of Diwali in November this year.

Brokerages and analysts were optimistic about the outlook for the sector, and the actual numbers are in line with the streets estimates, so far.

The November sales numbers from Hero MotoCorp, TVS, and Eicher Motors are awaited.

Maruti Suzuki India: Good growth seen in exports

Maruti Suzuki India reported a 1.7% increase in total sales to 153,223 units in November this year. The company had sold 150,630 units in the same month a year ago.

Despite the festive uptick the domestic sales registered a meagre growth of 0.4%, however, the exports were healthy at nearly 30% y-o-y growth.

Maruti Suzuki India	November 2020	November 2019	YoY (%)
Domestic sales	144,219	143,686	0.4%
Exports	9,004	6,944	29.7%
Total sales	153,223	150,630	1.7%

Bajaj Auto: CV segment declines for ninth consecutive month

Bajaj Auto reported a 5% increase in total sales to 4,22,240 units in November this year. The company had sold 4,03,223 units in the same month a year ago.

For Bajaj, the motorcycle sales rose 12% to 3,84,993 units and total commercial vehicle sales dropped 38% to 37,247 units.

Bajaj Auto	November 2020	November 2019	YoY (%)
Three-wheeler	37,247	59,777	-38%
Motorcycle	3,84,993	343,446	12%
Total	4,22,240	403,223	5%

Escorts: Tractor exports soar

Farm equipment manufacturer Escorts Agri Machinery reported a 33% rise in tractor sales to 10,165 units for November 2020. The company had sold 7,642 tractor units in November last year.

"The dealer and depot stocks continue to be low. Stock correction in the coming months would continue to push the industry upwards, supported by healthy water reservoir levels and a good harvest," the company said in a regulatory filing.

The company said it has also taken a price increase this month to pass on the inflation in the commodity prices.

Escorts	November 2020	November 2019	YoY (%)
Domestic	9,662	7,379	30.9%
Exports	503	263	91.3%
Total	10,165	7,642	33%

Ashok Leyland: Light commercial vehicle segment grows but MHCVs remain under pressure

Ashok Leyland reported healthy sales in the light commercial vehicle segment leading to a 5% year-on-year increase November this year.

The medium and heavy commercial vehicle continued to bear the brunt and declined 14% compared to the same period last year.

Ashok Leyland	November 2020	November 2019	YoY (%)
MHCV	5114	5,966	-14%
LCV	5545	4,209	32%
Total sales	10659	10,175	5%

M&M: Tractor and utility vehicles segment grows, car sales decline despite festive demand

Mahindra and Mahindra reported nearly 4% growth in its overall sales led by strong demand for its utility vehicles and tractors. Despite the festive uptick in the month of November, the car segment of M&M declined nearly 49% compared to the same period last year. The commercial vehicle segment and the exports continued to bear the brunt during the period.

Mahindra & Mahindra	November 2020	November 2019	YoY (%)
Passenger vehicle	18212	14637	24.00%
Commercial vehicle	3854	6593	-42%
Exports	1636	2621	-38%
Farm Equipment	32726	21031	56%
Total	42,731	41,235	4%

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

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