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Auto sales numbers - September 2011
Maruti Suzuki (Maruti)
Maruti reported a 20.8% yoy (6.4% mom) decline in sales volume in September 2011 due
to disruption in production at the Manesar facility since August 29, 2011. Labour issues at
Manesar plant led to a production loss of 20,000–25,000 units during the month. While
the company managed to ramp up the production of Swift to 650-750 units daily despite
the strike, production of SX4 and A-Star, which are also produced at the same facility, was
completely stopped. As a result, sales of SX4 nosedived by 90% on a yoy and mom basis.
Sales volume in the mini as well as compact segments witnessed a yoy decline of 23.5%
and 9.3%, respectively, leading to a 17.2% yoy decline in total domestic sales. However,
on a sequential basis, volumes bounced back on account of the festival season, resulting in
a 2.2% mom increase in domestic sales. Exports surprisingly plunged by 47.5% yoy (53%
mom) during the month.
Mahindra & Mahindra (M&M)
M&M reported better-than-expected 30.7% yoy and 28.2% mom jump in total volumes to
68,810 units, aided by robust 25.5% (17.1% mom) and 41.1% yoy (54.2% mom) growth
in automotive sales and tractor sales, respectively. Growth in the tractors space was driven
by an impressive 41.1% yoy (54.2% mom) increase in domestic sales, whereas exports
sales remained flat on a yoy basis. Within the automotive segment, the four-wheeler
pick-up segment continues to maintain its growth traction and witnessed strong 45% yoy
(6.8% mom) growth. Verito also continued its impressive run during the month. Automotive
exports registered a robust 128.9% yoy (55.7% mom) jump to 3,001 units.
Tata Motors (TML)
TML reported a 22% yoy increase in total sales to 78,786 units on the back of strong
performance by its commercial vehicle (CV) segment. Growth in the CV segment was
driven by robust 47% yoy growth in the light commercial vehicle (LCV) segment, which
sustained its impressive growth rate. M&HCV volumes witnessed a slight rebound in sales,
posting 9% yoy growth during the month. During September 2011, the PV segment
registered its best performance YTD in FY2012, growing by 6% yoy. Sales in the PV
segment were driven by 64% yoy growth in Indica volumes on the back of the newly
launched Indica Vista and 60% yoy growth in Sumo/Safari/Aria/Venture volumes.
However, Nano and Indigo sales continued their disappointing run, declining by 47% and
11% yoy, respectively.
TVS Motor (TVS)
TVS reported a strong 16.7% yoy (12.6% mom) jump in total volumes to 219,369 units, led
by continued growth in the scooters segment. Strong momentum in the scooters segment
continued during the month, resulting in a 29.7% yoy (6.9% mom) increase in sales
volume. Volumes of motorcycles and mopeds also registered healthy growth of 11.6%
(16.9% mom) and 14.3% yoy (14.5% mom), respectively. In the three-wheeler segment,
volumes increased by 14.2% yoy; however, they were down sharply by 22% on mom basis.
Exports reported a mixed trend as yoy volumes increased by 14.2%, whereas they declined
by 13.4% sequentially.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Auto sales numbers - September 2011
Maruti Suzuki (Maruti)
Maruti reported a 20.8% yoy (6.4% mom) decline in sales volume in September 2011 due
to disruption in production at the Manesar facility since August 29, 2011. Labour issues at
Manesar plant led to a production loss of 20,000–25,000 units during the month. While
the company managed to ramp up the production of Swift to 650-750 units daily despite
the strike, production of SX4 and A-Star, which are also produced at the same facility, was
completely stopped. As a result, sales of SX4 nosedived by 90% on a yoy and mom basis.
Sales volume in the mini as well as compact segments witnessed a yoy decline of 23.5%
and 9.3%, respectively, leading to a 17.2% yoy decline in total domestic sales. However,
on a sequential basis, volumes bounced back on account of the festival season, resulting in
a 2.2% mom increase in domestic sales. Exports surprisingly plunged by 47.5% yoy (53%
mom) during the month.
Mahindra & Mahindra (M&M)
M&M reported better-than-expected 30.7% yoy and 28.2% mom jump in total volumes to
68,810 units, aided by robust 25.5% (17.1% mom) and 41.1% yoy (54.2% mom) growth
in automotive sales and tractor sales, respectively. Growth in the tractors space was driven
by an impressive 41.1% yoy (54.2% mom) increase in domestic sales, whereas exports
sales remained flat on a yoy basis. Within the automotive segment, the four-wheeler
pick-up segment continues to maintain its growth traction and witnessed strong 45% yoy
(6.8% mom) growth. Verito also continued its impressive run during the month. Automotive
exports registered a robust 128.9% yoy (55.7% mom) jump to 3,001 units.
Tata Motors (TML)
TML reported a 22% yoy increase in total sales to 78,786 units on the back of strong
performance by its commercial vehicle (CV) segment. Growth in the CV segment was
driven by robust 47% yoy growth in the light commercial vehicle (LCV) segment, which
sustained its impressive growth rate. M&HCV volumes witnessed a slight rebound in sales,
posting 9% yoy growth during the month. During September 2011, the PV segment
registered its best performance YTD in FY2012, growing by 6% yoy. Sales in the PV
segment were driven by 64% yoy growth in Indica volumes on the back of the newly
launched Indica Vista and 60% yoy growth in Sumo/Safari/Aria/Venture volumes.
However, Nano and Indigo sales continued their disappointing run, declining by 47% and
11% yoy, respectively.
TVS Motor (TVS)
TVS reported a strong 16.7% yoy (12.6% mom) jump in total volumes to 219,369 units, led
by continued growth in the scooters segment. Strong momentum in the scooters segment
continued during the month, resulting in a 29.7% yoy (6.9% mom) increase in sales
volume. Volumes of motorcycles and mopeds also registered healthy growth of 11.6%
(16.9% mom) and 14.3% yoy (14.5% mom), respectively. In the three-wheeler segment,
volumes increased by 14.2% yoy; however, they were down sharply by 22% on mom basis.
Exports reported a mixed trend as yoy volumes increased by 14.2%, whereas they declined
by 13.4% sequentially.
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