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Auto sales numbers - July 2011
Maruti Suzuki (Maruti)
Maruti reported lower-than-expected volume numbers, registering a 25.3% yoy decline to
75,300 units. The overall passenger car segment was sluggish in July 2011. The
company’s volumes were impacted by the discontinuation of dispatches of old Swift as the
company is planning to rollout the new version of Swift in August 2011. As a result, Swift
volumes were meager 348 units as against 11,828 units in July 2010. Further, shifting of
manufacturing of Swift Dzire from Manesar to Gurgaon also resulted in loss of 5,471 units
of Dzire. Maruti’s domestic volumes in July 2011 declined by 26.2% yoy, whereas exports
volume fell by 18.1% yoy. As per the new SIAM classification, volumes in the mini, compact
and super compact segments declined by 15.6%, 56% and 64.4% yoy, respectively.
Mahindra & Mahindra (M&M)
M&M reported robust volume growth of 33.6% yoy (down 3.4% mom) in total sales to
56,351 units, aided by better-than-expected 43.6% yoy (11.4% mom) growth in
automotive sales (39,633 units) and in-line 14.6% yoy growth (down 26.4% mom) in
tractor sales (16,718 units). Within the automotive segment, the four-wheeler pick-up
segment grew by an impressive 91% yoy (16.5% mom) as GIO and Maxximo continued to
drive performance, passenger UV volumes grew by 29.9% yoy (7.8% mom) and Logan
sales continued the strong momentum, registering growth of 116.8% yoy (7.9% mom).
Exports during the month posted strong 78.2% yoy (27.5% mom) growth. In the tractors
space, domestic sales reported a healthy 16% yoy (down 27.2% mom) increase in volumes
to 15,699 units (15,925), while exports volumes declined marginally by 3.7% yoy (down
13.5% mom).
Tata Motors (TML)
TML’s total volumes registered a 6% yoy decline, led by a 39% yoy drop in passenger
vehicles (PV) volumes. However, commercial vehicles witnessed better-than-expected 14%
yoy growth to 40,798 units, driven by a 22% yoy jump in the LCV segment, while the
M&HCV segment posted modest 4% yoy growth. In the PV segment, the company reported
a total offtake of 18,294 units, significantly lower by 39% yoy. The decline in volumes was
primarily because of a 64% yoy decline in Nano volumes to 3,260 units. Indica volumes
posted a 32% yoy decline, while Indigo range of vehicles reported a 30% yoy drop during
the month.
Hero Honda (HH)
HH reported in-line 14.8% yoy growth in sales volume to 491,036 units, led by momentum
across all the product segments. On a sequential basis, however, volumes declined by
4.1%. New product launches and refreshed product ranges continued to drive the
company’s volume performance.
TVS Motor (TVS)
TVS reported healthy 15.5% yoy (5.2% mom) growth to 192,000 units, led by 15.6% yoy
(5.5% mom) growth in two-wheelers. Motorcycle sales grew by 18.8% yoy (3.8% mom) to
72,500 units, while the scooter segment registered strong 23.9% yoy (12.9% mom) growth
to 50,000 units. Three-wheeler sales posted modest 12.6% yoy (down 8.4% mom) growth,
selling 3,500 units. Exports volume continued to see strong traction, registering 29.3% yoy
(4.3% mom) growth to 27,500 units.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Auto sales numbers - July 2011
Maruti Suzuki (Maruti)
Maruti reported lower-than-expected volume numbers, registering a 25.3% yoy decline to
75,300 units. The overall passenger car segment was sluggish in July 2011. The
company’s volumes were impacted by the discontinuation of dispatches of old Swift as the
company is planning to rollout the new version of Swift in August 2011. As a result, Swift
volumes were meager 348 units as against 11,828 units in July 2010. Further, shifting of
manufacturing of Swift Dzire from Manesar to Gurgaon also resulted in loss of 5,471 units
of Dzire. Maruti’s domestic volumes in July 2011 declined by 26.2% yoy, whereas exports
volume fell by 18.1% yoy. As per the new SIAM classification, volumes in the mini, compact
and super compact segments declined by 15.6%, 56% and 64.4% yoy, respectively.
Mahindra & Mahindra (M&M)
M&M reported robust volume growth of 33.6% yoy (down 3.4% mom) in total sales to
56,351 units, aided by better-than-expected 43.6% yoy (11.4% mom) growth in
automotive sales (39,633 units) and in-line 14.6% yoy growth (down 26.4% mom) in
tractor sales (16,718 units). Within the automotive segment, the four-wheeler pick-up
segment grew by an impressive 91% yoy (16.5% mom) as GIO and Maxximo continued to
drive performance, passenger UV volumes grew by 29.9% yoy (7.8% mom) and Logan
sales continued the strong momentum, registering growth of 116.8% yoy (7.9% mom).
Exports during the month posted strong 78.2% yoy (27.5% mom) growth. In the tractors
space, domestic sales reported a healthy 16% yoy (down 27.2% mom) increase in volumes
to 15,699 units (15,925), while exports volumes declined marginally by 3.7% yoy (down
13.5% mom).
Tata Motors (TML)
TML’s total volumes registered a 6% yoy decline, led by a 39% yoy drop in passenger
vehicles (PV) volumes. However, commercial vehicles witnessed better-than-expected 14%
yoy growth to 40,798 units, driven by a 22% yoy jump in the LCV segment, while the
M&HCV segment posted modest 4% yoy growth. In the PV segment, the company reported
a total offtake of 18,294 units, significantly lower by 39% yoy. The decline in volumes was
primarily because of a 64% yoy decline in Nano volumes to 3,260 units. Indica volumes
posted a 32% yoy decline, while Indigo range of vehicles reported a 30% yoy drop during
the month.
Hero Honda (HH)
HH reported in-line 14.8% yoy growth in sales volume to 491,036 units, led by momentum
across all the product segments. On a sequential basis, however, volumes declined by
4.1%. New product launches and refreshed product ranges continued to drive the
company’s volume performance.
TVS Motor (TVS)
TVS reported healthy 15.5% yoy (5.2% mom) growth to 192,000 units, led by 15.6% yoy
(5.5% mom) growth in two-wheelers. Motorcycle sales grew by 18.8% yoy (3.8% mom) to
72,500 units, while the scooter segment registered strong 23.9% yoy (12.9% mom) growth
to 50,000 units. Three-wheeler sales posted modest 12.6% yoy (down 8.4% mom) growth,
selling 3,500 units. Exports volume continued to see strong traction, registering 29.3% yoy
(4.3% mom) growth to 27,500 units.
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