While major players Hero Motocorp (Hero), Honda Motorcycle and Scooters India (HMSI) and TVS Motors are yet to report volumes for September, indications from media suggest strong offtake.
While major players Hero Motocorp (Hero), Honda Motorcycle and Scooters India (HMSI) and TVS Motors are yet to report volumes for September, indications from media suggest strong offtake. Hero has sold over a million units in the festive season so far, (with three more weeks to go till the end of the season), a double-digit growth over the previous year.
Bajaj Auto’s (BAL) domestic 2W volumes came into positive territory after 10 consecutive months of decline, growing 7% y-o-y to 247k units. Two-wheeler exports grew 20% y-o-y to 122k units. Royal Enfield (RE) continued to post strong growth with volumes up 22% y-o-y to 70,431 units. In the <350cc segment, volumes grew 27 % y-o-y to 66k units. RE volumes have been trending higher m-o-m as production ramps up.
Major car manufacturers saw good growth momentum continuing in September on festive season demand and strong performance from new launches.
Maruti Suzuki volumes grew 9% y-o-y to 163k units. Domestic volumes grew 10% to 151k units while exports were flattish y-o-y at 11.7k units. Volume growth was seen mainly in the compact and UV segments, which grew 34%/8% y-o-y to 73k/20k units respectively. Mini and mid-size segments declined 13%/14% y-o-y respectively. Hyundai saw 17% y-o-y growth in domestic volumes to 50k units, aided by the newly launched Verna, which likely saw retails of 6,000 units.
Tata Motors PV volumes grew 18 % y-o-y to 14,340 units, marking the highest monthly volumes since November 2012. The growth was aided by new launches Hexa and Nexon in the UV segment, while Tiago and Tigor continue to maintain decent run-rate. Toyota domestic volumes grew 2% y-o-y to 12k units. Toyota mentioned that waiting periods for Innova and Fortuner have increased to seven and 11 weeks respectively.