Tata Motors, Hero MotoCorp stocks slip after April sales disappoint; Maruti Suzuki, TVS Motor, Eicher Motors rise
- Tata Motors reported a 4% fall in total domestic sales in April as compared to the same period last year.
- Hero MotoCorp announced a dip of 5% in its total wholesales as it sold 3.96 lakh units in April against 4.18 lakh units last year.
- Maruti Suzuki reported a growth of 6.5% in passenger vehicles, while TVS Motor announced a 4% rise in sales to 3.06 lakh units in April.
Tata Motors reported a 4% fall in total domestic sales to 68,514 units in April as compared to 71,467 units during the same period last year. Total commercial vehicle sales of the automaker also dipped 27% to 22,492 units in April from 30,838 units last year. Also, its total wholesales declined 4% to 69,599 units as compared to 72,468 units last year.
Following the weak sales, shares of Tata Motors fell more than 2% on Tuesday.
Two-wheeler manufacturer Hero MotoCorp also reported a dip of 5% in its total wholesales — as it sold 3.96 lakh units in April against 4.18 lakh units last year.
Shares of Hero MotoCorp were down more than 2%.
The company said it expects the momentum to build up in the coming months on account of a combination of multiple factors, including a slew of new product launches, a healthy growth in the country's GDP and positive consumer sentiment.
Maruti Suzuki, TVS Motor, Eicher Motors shine
India’s largest carmaker Maruti Suzuki announced a good sales growth of 6.5% in passenger vehicles to 1.6 lakh units in April as compared to 1.5 lakh during the same period last year. It registered a 7% increase in total dispatches to dealers at 1.6 lakh in April.
Its total sales including domestic and exports rose to 1.6 lakh units from 1.5 lakh units last year. As a result, shares of Maruti Suzuki gained 2.15% to ₹8,771.
The automaker’s total domestic sales including PV, LCV and OEM stood at 1.43 lakh units as compared to 1.32 lakh units last year.
Maruti Suzuki highlighted that it has been facing a shortage of electronic components while it has taken all possible measures to minimise the impact.
Meanwhile, TVS Motor Company announced a 4% rise in sales at 3.06 lakh units in April 2023 from 2.95 lakh units in the same month, last year.
TVS’ two-wheeler segment delivered a sales growth of 5% to 2.94 lakh units from 2.8 lakh units during the same period last year. Motorcycle volumes rose 10% to 1.52 lakh units from 1.39 lakh units. Scooter sales grew 5% to 1.07 lakh units from 1.02 lakh units last year.
Reacting to the April sales numbers, shares of TVS rose 1.55% to ₹1,156 per share. Its electric vehicle, the iQube, reached a sales milestone of 1 lakh units. “The production for April 2023 was constrained due to AIS156 changeover and supply chain challenges, TVS Motor is confident of ramping up from the month of May 2023. The order book for TVS iQube continues to be very robust and TVS Motor will retain the growth momentum,” said the company in an exchange filing.
At the same time, Eicher Motors reported a 18% on year jump in sales volumes of Royal Enfield motorcycles at 73,136 units against 62,155 units last year.
Meanwhile, the international business of the company declined 49% to 4,255 units that were exported in April 2023 as against 8,303 units in April 2022.
The models with engine capacity up to 350cc recorded 26% sales growth at 64,728 units as against 51,564 units in April 2022. Meanwhile, the sales of models with engine capacity exceeding 350cc dropped 21% to 8,408 units sold against 10,591 units in the same period last year. As a result, shares of the automaker rose 1.77% to ₹3,359 apiece.
$TATAMOTORS.NSE Tata Motors is near strong resistance on daily timeframe. More upside movement only above 495. If breakout happens above 495 and sustains, then targets are 525-530.— (@AnweshaPanda) May 02, 2023
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