Maruti, Mahindra and more, know September sales data for these auto companies
After the virtual collapse of sales during the early months of Covid-19 pandemic, things are returning to normal for auto companies now. With the festive season looming, things can only get better. Check out how well Maruti Suzuki, Mahindra and other companies did in the month of September
After the virtual collapse of sales during the early months of Covid-19 pandemic, things are returning to normal for auto companies now. With the festive season looming, things can only get better. Check out how well Maruti Suzuki, Mahindra and other companies did in the month of September.
1) September Sales for Maruti Suzuki stood at 160,442 Units vs Estimate of 156,000 Units. This is a growth of 30.8% over the same period previous year which was at 122,640 Units. The performance has to be seen in the context of lower base of September 2019. Share price of Maruti rose by over 4% and made an intraday high of Rs 6909. Domestic Passenger Vehicles segment sales data stood extremely strong at 147,912 Units up 34% vs 110,454 Units last year.
2) September sales for Mahindra and Mahindra during September 2020 were at 43,386 units up 17%, as against 37,011 units for the same period last year. The share price of M&M made an intraday high of Rs 621.9.
Management believes retail demand continued to be buoyant backed by a very good monsoon, higher kharif acreage and continued government support, including higher MSPs for key crops. We are looking forward to a very robust demand for the festive season ahead.
3) September sales for Escorts stood at 11,851 units vs estimate of 12400 units. Share price of Escorts collapsed by over 4% and made an intraday low of Rs 1262.3 on disappointing tractor sales. However, sales have improved by 9.2% from 10,855 Units in September FY20 to 11,851 in September FY21.
Management of Escorts remains optimistic for the upcoming Festive season. The rural demand continues to remain positive led by lower base of last year, pent-up demand from Covid-19 related lockdowns, and fundamentally positive macroeconomic factors. Timely and widespread monsoon, record Rabi crop production, early Kharif sowing, and good availability of retail finance have helped drive positive farmer sentiment. While currently operating close to our peak capacity, we are trying to further ramp up production and supply to meet the excess demand.
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4) September Sales for Ashok Leyland stood at 8344 units vs expectations of 7600 units. Share price of Ashok Leyland made an intraday high of Rs 77. The performance was weaker by 5% when compared to last year’s September month when sales were 8780 units.
By Rahul Kamdar
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