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Apr 04, 2012, 11.35 AM IST | Source: Moneycontrol.com

Auto cos end FY12 on a high note: Nirmal Bang

Nirmal Bang has come out with its report on 'automobile sales - March 2012'. According to the research firm, in the two-wheeler segment, Hero MotoCorp and Bajaj Auto reported sales growth of 2.4% & 9% YoY, respectively, while TVS Motor Company reported a decline of 4.5% YoY.

Nirmal Bang has come out with its report on 'automobile sales - March 2012'. According to the research firm, in the two-wheeler segment, Hero MotoCorp and Bajaj Auto reported sales growth of 2.4% & 9% YoY, respectively, while TVS Motor Company reported a decline of 4.5% YoY.

Automobile sales in March 2012, the last month of FY12, ended on a high note with a few original equipment makers (OEMs) hitting all-time high sales volumes. OEMs in the passenger car segment outshined companies in the two-wheeler segment as the month witnessed higher despatches of vehicles ahead of the Union Budget 2012-13. OEMs in the passenger car segment having diesel portfolio of vehicles witnessed maximum growth, which, we believe, was driven by higher despatches of diesel vehicles given the fears of additional duty on diesel vehicles in the Budget. Medium and heavy Commercial vehicle (MHCV) sales last month were disappointing with Ashok Leyland and Tata Motors reporting fall in sales. In the two-wheeler segment, Hero MotoCorp and Bajaj Auto reported sales growth of 2.4% & 9% YoY, respectively, while TVS Motor Company reported a decline of 4.5% YoY. Going forward, we expect sales to remain weak across segments, given the slowing demand from rural areas. Two-wheeler sales have started moderating while demand for petrol cars remain weak due to high fuel prices.

  • Maruti Suzuki India’s sales grew 3.3% YoY and 5.9% MoM, driven by growth in the compact car segment and the recently launched new Dzire. The company will launch Ertiga on 11 April 2012 and has already despatched a few vehicles to dealers last month.
  • Tata Motors ’ sales last month topped the 100,000 mark for the first time, driven by strong growth in light commercial vehicle and passenger vehicle sales, which grew 17% and 30% YoY, respectively.
  • Hyundai Motors India reported 6.6% YoY improvement in volume led by higher domestic sales, which grew 23% YoY. Exports declined 15% YoY.
  • Mahindra & Mahindra’s utility vehicle sales continued their strong run with 33% YoY volume growth. However, its tractor sales disappointed YoY with a 12.3% drop in volume.
  • Toyota Kirloskar’s volume grew 87.3% YoY, driven by higher sales of the Etios and Innova range of vehicles.
  • Honda Siel India’s sales grew 208% YoY as it dispatched a higher number of Brio Models during the month. The company despatched 6,355 units of its Brio model.
  • Sales of Ford India, GM India and Volkswagen India grew 0.7%, 12.7% and 2.9% YoY, respectively.
  • Hero MotoCorp’s sales were up 2.4% YoY at 528,290 units, while Bajaj Auto reported 9% YoY growth in volume at 335,515 units.
  • TVS Motor’s sales declined by 4.5% YoY due to drop in motorcycle and scooter sales.
  • Honda Motors & Scooters India’s (HMSI) sales rose 50% YoY, driven by 70% and 25% growth in scooter and motorcycle sales, respectively
  • Yamaha India’s sales rose 14% YoY, of which domestic sales were up 16% and exports up 10% YoY.
  • Ashok Leyland ’s sales were up 17.4% YoY driven by sales of LCV Dost. The company sold 2,211 units of the LCV.
Non-Institutions holding more than 90% in Indian cos

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