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

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

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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 IndiaNovember 2020 November 2019 YoY (%)
Domestic sales144,219143,6860.4%
Exports9,0046,94429.7%
Total sales153,223150,6301.7%

Bajaj Auto: CV segment declines for ninth consecutive month

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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 AutoNovember 2020November 2019 YoY (%)
Three-wheeler37,24759,777 -38%
Motorcycle3,84,993343,44612%
Total4,22,240403,2235%

Escorts: Tractor exports soar

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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.

EscortsNovember 2020November 2019 YoY (%)
Domestic9,6627,37930.9%
Exports50326391.3%
Total10,1657,64233%

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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 LeylandNovember 2020 November 2019 YoY (%)
MHCV51145,966-14%
LCV55454,20932%
Total sales1065910,1755%

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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 & MahindraNovember 2020November 2019 YoY (%)
Passenger vehicle182121463724.00%
Commercial vehicle38546593-42%
Exports16362621-38%
Farm Equipment327262103156%
Total42,73141,2354%

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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