Moneycontrol Bureau
Maruti Suzuki has registered a 8.5 percent growth in December sales, beating expectations on support from compact, super compact and utility vehicles. The country's largest car maker sold 1.19 lakh units in December against 1.09 lakh units in a year-ago month but fall in exports limited growth. Nomura had expected a 4.4 percent growth for December.
"Domestic sales grew by 13.5 percent year-on-year to 1.11 lakh units while exports fell 33.1 percent to 7,816 vehicles in last month of year gone by," says Maruti in its filing to exchanges, adding passenger cars sales climbed 11.6 percent during the same month.
Compact car sales increased by 14 percent to 47,354 units in December compared to same month last year, aided by good response to Baleno that launched in October.
Super compact segment reported a solid growth of 115.6 percent by selling 3,614 units of Dzire Tour during the month. Mini cars (Alto and WagonR) sales increased 7.5 percent while it sold 2,841 vehicles under mid-size car segment (that includes SX4, Ciaz), down 23.9 percent compared to year-ago period.
Maruti says it sold 9,168 utility vehicles in December, a growth of 58.8 percent year-on-year due to strong bookings for S-Cross launched in August.
At 11:39 hours IST, the scrip of Maruti Suzuki India was quoting at Rs 4,646.00, up Rs 30.65, or 0.66 percent on the Bombay Stock Exchange.
Eicher's CV sales strong
Eicher Motors' commercial vehicle sales increased 44.3 percent to 5,068 units in December compared to 3,512 units sold in a year-ago period.
Its only Royal Enfield production was impacted due to Chennai floods and not commercial vehicles.At 13:03 hours IST, the scrip of Eicher Motors was quoting at Rs 17,446.95, up Rs 591.75, or 3.51 percent amid high volumes on the BSE.
Mahindra & Mahindra disappoints
Utility vehicle maker Mahindra and Mahindra disappointed street on Friday with reporting a 4 percent growth in auto sales in December against 11.3 percent growth expected by Nomura. It was due to muted growth in domestic sales while exports showed excellent growth.
The company sold 37,915 vehicles during the month against 36,328 vehicles in same month last year with domestic sales rising 1 percent and exports increasing 65 percent to 3,076 vehicles year-on-year.
Passenger and commercial vehicle sales grew by 1 percent each on yearly basis but medium & heavy commercial vehicle sales growth picked up further during the month, up 74 percent to 528 vehicles. Its three-wheeler vehicle sales increased 2 percent to 4,177 units in same period.
M&M says tractors sales increased 3 percent during the month to 12,868 units year-on-year (which also disappointed) supported by domestic sales that reported a 4 percent growth at 11,686 units but exports declined 1 percent to 1,182 units. Nomura had expected tractors sales growth of 20 percent for December.
At 15:25 hours IST, the scrip of Mahindra and Mahindra was quoting at Rs 1,260.35, down Rs 11.20, or 0.88 percent on the BSE.
Escorts sales weak
Escorts' tractor sales declined 8.9 percent to 2,751 units in December from 3,021 units in year-ago period. Domestic sales dropped 5 percent to 2,727 units from 2,871 units in same period.
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