Auto stocks skid after dismal sales in April

Shares of seven auto makers fell 3% to 6% after weak auto sales in April 2020.

Meanwhile, the S&P BSE Sensex was down 1557.12 points or 4.62% to 32,160.50.

Four-wheeler makers:

Maruti Suzuki India was down 6.48% to Rs 5013. The company posted zero domestic sales in April 2020. Meanwhile, following resumption of port operations at the Mundra Port, the company exported 632 units during the month.

Mahindra & Mahindra fell 5.37% to Rs 346.90. The company posted zero domestic sales in April 2020. M&M sold 733 vehicles in the export market during April 2020 as against 2118 units sold in the corresponding period last year, falling 65% on a year-on-year (YoY) basis.

 

SML Isuzu was down 4.94% to Rs 370.60. The company posted zero sales in April 2020 compared with 488 units in March 2020.

Two-wheeler manufacturers:

Bajaj Auto tumbled 5.10% to Rs 2493.75. The company posted recorded zero domestic sales in April 2020. It however, exported 32,009 units of 2-wheelers and 5,869 units of commercial vehicles during the month.

TVS Motor Company lost 5.69% to Rs 309.40. The company posted recorded zero domestic sales in April 2020. The company, however, shipped 8,134 units of two-wheelers and 1,506 three-wheelers during the month following resumption of operations at Chennai Port.

Eicher Motors fell 4.47% to Rs 14043.20. Royal Enfield, the two-wheeler division of Eicher Motors, reported sales of 91 units for the month of April 2020. Meanwhile, VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors, reported sales of 85 units in domestic and export for the month of April 2020.

Tractor makers:

M&M's Farm Equipment Sector (FES) recorded total tractor sales (domestic + exports) of 4,772 units during April 2020, registering an 83% YoY decline from 28,552 units sold in the same period last year. While the company's domestic tractor sales also contracted by 83% to 4716 units, tractor exports witnessed an even greater fall of 95% as it stood at 56 units in April 2020 over April 2019.

Escorts fell 3.46% to Rs 688.20. The company's Agri Machinery Segment (EAM) in April 2020 sold 705 tractors, down by 86.6% from 5,264 tractors sold in April 2019. While domestic tractor sales tumbled 87.7% to 613 units, exports contracted by 66.9% to 92 units in April 2020 over April 2019.

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