Tata Motors November sales may fall 23% – Maruti and M&M may fare slightly better
- November car sales may take a hit again, predict analysts.
- Tata Motors total sales volume may fall by 23% in November, with Jaguar Land Rover sales too declining by 5%, said a CLSA report.
- Meanwhile, Maruti Suzuki, Mahindra & Mahindra may see a 5% decline.
AdvertisementIt looks like the Indian auto industry is not going to have a very happy ending to the year. Analysts say that November car sales may see yet another decline.
Market research firm CLSA said that Tata Motors total sales volume may fall by 23% in November, with Jaguar Land Rover sales declining by 5%.
“We expect most covered Indian auto OEMs to report a YoY decline in wholesale volumes in November. This is partly driven by the earlier timing of festive period this year – mostly in October in 2019 versus being spread over the months of October and November in 2018,” said the report.
|Company||November Sales Volume Estimate|
|Mahindra & Mahindra||-5%|
In October, Tata Motors’ global sales including Jaguar Land Rover, stood at 89,108 units, falling 19% from the same period last year.
However, Maruti Suzuki reaped in the festive season benefits and reported a 4.5% jump in October sales.
Global ratings agency Fitch Ratings too predicted gloomy days ahead for the auto industry.
“High dealer inventories coupled with weak consumer sentiment and deferment of purchase decisions ahead of BS6 will limit any significant boost. Higher vehicle costs under BSVI are likely to weigh on PV demand in FY21,” said the report.
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