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.
April 04, 2012 / 11:35 IST
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. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
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