Jun 05, 2012, 12.38 PM | Source: Moneycontrol.com
Nirmal Bang has come out with its report on automobile sales.
, Nirmal Bang |
Automobile sales in May 2012 continued to remain subdued as the petrol price hike played spoilsport. Car sales of key players like Maruti Suzuki , Tata Motors , General Motors India and Ford India posted YoY drop in sales. Two-wheeler companies displayed better performance, with most of them posting a MoM growth in sales, largely driven by the launch of new vehicles and demand uptick due to the marriage season in North India. In the commercial vehicle segment, medium and heavy commercial vehicle (MHCV) sales remained weak, with Tata Motors reporting a 23.1% YoY drop in MHCV sales, while light commercial vehicle sales continued their doubledigit growth momentum. With the recent steep petrol price hike, car sales are expected to remain under pressure in the near term, but we expect them to recover in 2HFY12.
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