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Last Updated : Dec 02, 2015 08:06 AM IST | Source:

Maruti, Eicher Motors, Leyland, M&M Nov sales disappoint

Mahindra & Mahindra's sales volume climbed 21 percent to 41,590 vehicles in November compared to 34,292 vehicles in same month last year, which was lower than analysts' estimates.

Moneycontrol Bureau

Maruti Suzuki's November sales missed analysts' expectations on Tuesday due to fall in mini cars segment. The country's largest car manufacturer said it has sold 1,20,824 vehicles in November, 9.7 percent over 1,10,147 vehicles sold in year-ago period, aided by compact cars and utility vehicles segments.

Nomura had expected volumes to increase by around 14 percent year-on-year led by ramp up of new launches in domestic segment while Motilal Oswal was expecting 16.5 percent growth at 1.28 lakh units.


The comapny said domestic sales increased by 10.6 percent year-on-year to 1.1 lakh units while exports grew only by 1 percent in the month gone by. Passenger cars sales were up 8.7 percent to 89,479 units in same period.

Maruti disappointed in mini car segment (Alto and WagonR). Mini cars sales declined 4.7 percent Y-o-Y to 35,981 units and even mid-size segment growth came in low single digits. Mid-size cars sales (SX4 and Ciaz) climbed 5.3 percent to 5,509 vehicles.

In compact cars segment, (which consists of brands like Swift, Celerio, Baleno, Dzire and Ritz) it sold 44,626 units in November, higher by 19.5 percent compared to year-ago month.

Maruti launched Baleno in October and S-Cross in August. Motilal Oswal in its report said Baleno has received overwhelming response and bookings crossed 25000 units from the day of launch.

Utility vehicles (like Ertiga, S-Cross, Gypsy) sales increased 57.5 percent on yearly basis.

Eicher Motors disappoints

Royal Enfield sales remained strong in November, but were below expectations. Eicher Motors said it sold 40,769 units of Royal Enfield during the month, increased 48 percent compared to year-ago period.

"We sold 37,455 motorcycles (growth of 52 percent year-on-year) that have engine capacity upto 350cc and 3,314 units (up 13 percent) that have more than 350cc engine capacity," it detailed.

Exports increased 33 percent to 457 units in November from 344 units in same month last year.

Nomura estimated Royal Enfield (RE) sales growth of 52.5 percent and expected floods in Chennai to impact dispatches. Motilal Oswal has high expectations of 67 percent growth in RE.

Ashok Leyland maintains growth but misses estimates

Country's second largest commercial vehicle maker Ashok Leyland also missed analysts' expectations with the November sales rising 16 percent year-on-year to 8,971 units.

Medium and heavy commercial vehicle (MHCV) sales increased 21 percent to 6,297 units and light commercial vehicle sales (LCV) were up 6 percent to 2,674 units compared to year-ago period.

Motilal Oswal expected 29 percent year-on-year growth in total sales while Nomura estimated MHCV segment growth at 25 percent for November.

M&M volumes lower than estimates

Mahindra & Mahindra's sales volume climbed 21 percent to 41,590 vehicles in November compared to 34,292 vehicles in same month last year, which was lower than analysts' estimates.

Nomura expected the company to report auto sales growth of 25.7 percent year-on-year, led by favorable base and new launches in utility vehicles (TUV 3OO) and pick-ups (Supro etc).

Domestic sales increased 23 percent Y-o-Y to 39,383 units while exports grew only 1 percent to 2,207 units in the month gone by.

M&M said passenger vehicle sales rose 36 percent to 19,662 units and utility vehicles sales increased 37 percent to 18,686 units compared to same month last year.

Tractor sales of the company were strong as it returned to growth on the back of low base and improvement in sentiment during festive season. It sold 21,717 tractors in November, higher by 42 percent compared to 15,333 units in year-ago period.

Escorts agri machinery sales

Escorts sold 4,706 tractors in November, higher by 9.3 percent compared to 4,706 tractors in same month last year. Domestic sales increased 12.2 percent to 4,691 units on yearly basis.

Atul Auto

The three-wheeler maker's total sales during the month were up 5.2 percent to 4,005 units compared to year-ago period.

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First Published on Dec 1, 2015 02:44 pm
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