Auto Sales February 2023: Maruti Suzuki, Tata Motors, Bajaj Auto, Hero MotoCorp, M&M domestic sales grow but exports shrink
Auto sales February 2023 (car sales, motorcycle sales, scooter sales, truck sales, CV sales): Maruti Suzuki, Tata Motors, Hero MotoCorp and Bajaj Auto reported growth in domestic sales but contraction in exports.
Auto sales February 2023: Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Bajaj Auto, Hero MotoCorp and the likes reported growth in domestic sales but contraction in exports in February 2023 compared with the corresponding period a year ago.
Maruti Suzuki India — the country's largest carmaker — sold a total of 1,72,321 vehicles last month, marking an increase of five per cent on a year-on-year basis and beating analysts' estimates, according to a company statement. According to Zee Business research, the auto giant's total sales in the month were estimated at 1,69,500 vehicles.
Maruti Suzuki, the maker of Baleno, Brezza, Vitara, Dzire and WagonR models, said it took all possible measures to minimise the impact of a shortage of electronic components, which "had a minor impact on the production of vehicles, mainly in domestic models".
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Here's a lowdown on how the auto makers fared in the domestic as well as international markets in February 2023:
|Company||Domestic sales||YoY change (%)||Exports||YoY change (%)|
Maruti Suzuki India registered a 9.6 per cent increase in domestic passenger and light commercial vehicle sales to 1,50,823 units. The carmaker's passenger vehicle sales grew 10.1 per cent to 1,47,467 units in the domestic market.
Tata Motors reported sales of 78,006 vehicles in the domestic market last month, up 5.6 per cent on a year-on-year basis. The company sold a total of 42,862 passenger vehicles in the domestic market during the month, marking a rise of 7.2 per cent on a year-on-year basis, according to a statement.
The Tata group auto major's exports fell 56 per cent to 1,699 vehicles.
Mahindra & Mahindra
Mahindra & Mahindra posted total sales of 56,551 vehicles in the domestic market in February 2023, registering growth of 9.5 per cent on a year-on-year basis. Sales of passenger vehicles in the domestic market came in at 30,358 units, up 9.7 per cent compared with February 2022, according to a statement.
M&M exported 2,250 vehicles last month, down 20 per cent compared with the year-ago period.
Ashok Leyland reported total sales of 17,568 vehicles in the domestic market, including medium and heavy trucks as well as buses and light commercial vehicles, marking a rise of 32.3 per cent compared with the year-ago period.
Its exports, however, reduced 27.1 per cent on a year-on-year basis to 1,003 vehicles.
Bajaj Auto reported a 36 per cent jump in total domestic sales to 1,53,291 vehicles last month compared with the corresponding period a year ago, as a slew of manufacturers of cars, two-wheelers and commercial vehicles start to release their monthly reports. Its total exports, however, fell 37.6 per cent on a year-on-year basis to 1,26,935 vehicles, according to a company statement. Its sales of two-wheeler in the domestic market increased 24.7 per cent to 1,20,335 vehicles, and those of commercial vehicles more than double to 32,956 from 16,224 in the year-ago period.
Hero MotoCorp reported total sales of 3,82,317 motorcycles and scooters in the domestic market last month, marking growth of 15.3 per cent compared with the year-ago peirod, according to a company statement.
Its exports plunged 54.7 per cent on a year-on-year basis to 12,143 motorcycles and scooters in the month.
The two-wheeler major said volumes during the month suggest a steadily improving consumer sentiment, and the company expects the positive trend to continue in the coming months owing to favourable economic indicators.
TVS Motor Company
TVS Motor Company reported total sales of 2,22,745 vehicles in the domestic market in February, marking an increase of 27.9 per cent compared with the year-ago period. Its exports, however, fell 50.4 per cent to 53,405 vehicles.
Eicher Motors sold a total of 6,799 buses and trucks in February 2023, an increase of 33.5 per cent compared with the year-ago period, according to a company statement. Its exports, however, fell 53.8 per cent to 301 buses and trucks.
Royal Enfield saw growth of 23.6 per cent on year in its domestic sales to 64,436 motorcycles last month, according to a company statement. Its exports increased 1.2 per cent to 7,108 motorcycles.
Royal Enfield is a subsidiary of Eicher Motors.
Escorts Kubota reported a 27.4 per cent year-on-year increase in sales to 7,245 tractors in the domestic market in February 2023. Its exports increased 32.2 per cent on a year-on-year basis to 566 tractors last month, according to a company statement.
The farm equipment maker said demand momentum across geographies is expected to remain strong owing to a positive overall sentiment, record rabi sowing, better crop rates, robust water reservoirs, and higher allocations to rural and agri sectors in the Union Budget.