InvestorQ : How do the car and auto sales numbers for the month of January 2021 look like?
Debbie Mascarenhas made post

How do the car and auto sales numbers for the month of January 2021 look like?

Answer
image
Arti Chavan answered.
7 months ago
Follow

The real action was on the exports front in the month of Jan-21. It was a month of robust passenger vehicle shipments from India pointing towards demand recovery in some of the major export markets for Indian automakers. In fact, passenger vehicle exports rose 1.15% to 37,187 units in the month of January 2021 on a yoy basis.

For the 10-month April to January period, passenger vehicle shipments are still lower by 43% at 3,28,360 units but that is more due to the pandemic effect and January has been the month of the actual recovery in the export market. Jan-21 is interesting because it is the first month of positive growth in auto vehicle exports.

This growth was triggered by economic recovery in the export markets. The leadership in exports was with Maruti Suzuki with export of 12,345 units, recording a gain of 29.92% on a yoy basis. Hyundai Motor shipped 8,100 units in Jan-21 but volumes are still lower on a yoy basis.

The growth was also robust in the domestic Indian markets with growth of 11.14% at 276,554 units in Jan-21. However, domestic sales were also down in the 10-month April to January period by 13.2% at 20,54,428 units.

4 Views