InvestorQ : How are the auto sales numbers look like for November 2020?
Mitali Bhutta made post

How are the auto sales numbers look like for November 2020?

7 months ago

There was some reason to rejoice as the sales of two wheelers and four wheelers picked up across the board in November. It could be largely attributed to festival buying so it is hard to say if it is sustainable so we will have to wait and see.

Overall, one can say that there were encouraging auto sales numbers for November 2020. India’s largest motor cycle manufacturer, Hero Moto, saw 12.9% growth in motor cycles to 5.41 lakh units. On the other hand, Bajaj Auto saw 12% increase in domestic sales of motorcycles and 14% growth in exports. Bajaj remains a key exporter.

Despite a low base, there was finally some traction for Tata Motors. The company saw domestic sales up by 108% for passenger vehicles. However, the industrially sensitive CV segment sales fell by 9% in November. The other diversified player, M&M, reported 4.5% fall in CV sales. The redeeming feature was the 55% jump in tractor sales on agri push.

The largest pure four-wheeler play, Maruti Suzuki, saw a fall in sales of its mini and compact cars. Entry level demand has been low. However, it saw 29% increase in mid-sized sedans and 2.4% growth in SUVs during Nov-20, which shows that mid to high level buying is back.