Auto – February 2011 volume update : Emkay

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Auto – February 2011 volume update

Hero Honda (HH) – on expected lines

n    Total sales increased by 23.5% YoY to 472,055 units.

Maruti Suzuki India Ltd (MSIL) – strong set of numbers

n    Total sales for February 2011 increased by 15.5% YoY to 111,620 units.

n    Domestic sales grew by only 19.8% YoY to 101,518 units.

n    Export declined by 15% YoY to 10,102 units.

n    Product mix improves with higher share of A3 segment and higher domestic sales.

Mahindra & Mahindra (M&M) – above estimates

n    Total sales increased by 24.6% YoY to 50,368 units.

n    Passenger UVs disappoint marginally with increase of 11.4% YoY to 14,288 units. THiw was more than compensated by strongshow in pick ups

n    Total tractors sales increase by 36.8%  YoY to 19,041 units.

Tata Motors Ltd (TML) – M&HCV disappoints marginally

n    Total sales increased by 11.7% YoY to 77,543 units.

n    M&HCVs sales increased by only 1.1% YoY to 17,632 units.

n    LCVs sales increased by 17.4% YoY to 23,776 units.

n    UVs and Nano reported good set of numbers, car (ex Nano) grew by only 0.7% YoY to 19,010 units

n    Export sales increased by 39% YoY to 4,504 units

TVS Motor Ltd (TVSL) – On expected lines

n    Total sales increased by 24.3% YoY to 177,412 units

n    Motorcycle sales increased by 12.7% YoY to 71,462 units.

n    Scooters/Mopeds increased by 31.9% YoY to 101,738 units.

n    Total domestic sales increased by 24.8% YoY to 151,526 units.

n    Export sales increased by 21.7% YoY to 25,886 units.