Domestic two-wheeler registered a growth of 16 per cent, with sales increasing from 244,084 units a year ago to 283,878 units in September 2022
Tractor sales decline 32% despite good monsoons; three-wheelers do modestly compared to 2019
Greaves Electric Mobility projects that sales of electric scooters will balloon to 700,000 units in FY23 from 250,000 units in FY22
Volumes and margins are expected to improve on the back of a good monsoon and decline in raw material costs, respectively
Passenger vehicle sales are expected to be robust in July, driven by a large order book and production ramp-up, while commercial vehicle volumes may remain in an uptrend, a report said on Thursday. However, tractor volumes are likely to decline due to a high base and uneven spread of the monsoon, according to brokerage firm Emkay Global Financial Services, which has retained a positive view on the auto sector. Emkay Global also expects an improvement in two-wheeler sales on the back of higher production and inventory build-up with dealers. Passenger vehicle segment should witness a robust growth on a large order book and production ramp-up, with automakers such as Tata Motors, M&M and Maruti Suzuki expected to log 49 per cent, 28 per cent and 8 per cent volume growth, respectively, in July, the brokerage firm said. For the two-wheeler segment, the brokerage estimates a 35 per cent improvement in domestic sales for Eicher Motor-Royal Enfield, 6 per cent each for TVS Motor and Hero .
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Total two-wheelers sales grew 23 per cent last month at 2,93,715 units as against 2,38,092 units in June 2021, it added.
Fall in raw material prices, low base, and normal monsoon are other positives
Retail sales of passenger vehicles grew last month but the sales of two-wheeler and commercial vehicles remained low compared to the pre-Covid month of May 2019, according to FADA
Domestic sales stood at 4,66,466 units last month. The company had dispatched 1,59,561 units in the domestic market in May 2021.
Many non-official parameters do indicate a rebound, but high inflation seems to hitting hard, eroding all gains
The company is comfortable with its current inventory level, which is around six weeks
High raw material prices and semiconductor shortage puts recovery in doubt for companies' plans
Commercial vehicle sales in the domestic market, however, grew by 13 per cent to 8,944 units compared to 7,901 units in the same month last year, Bajaj Auto said
Overseas shipments by volume of scooters and motorbikes hit the highest since FY16
SIAM President Kenichi Ayukawa noted that despite some recovery from a low base, sales of all four segments of the auto industry were below even the 2018-19 level
Domestic sales were also down 31.57 per cent at 3,31,462 units last month compared to 4,84,433 units in February 2021
The company had reported sales of 69,659 units in the same month last year