Auto Sales In December 2020: Escorts’ Sales Surge 88%; Maruti Suzuki Reports 20% Growth

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Jan 01 2021, 9:47 AMJan 01 2021, 10:57 AMJanuary 01 2021, 9:47 AMJanuary 01 2021, 10:57 AM

Automobile sales in December 2020 is likely to witness a healthy growth from the low base due to BS-IV inventory de-stocking last year.

We expect wholesales to witness healthy YoY growth for most segments, barring medium and heavy commercial vehicles and three-wheelers, on a soft base, low/stable inventory levels, rise in preference for personal mobility and continued retail momentum, Nirmal Bang said in a report.

Inventory is lower than normal for passenger vehicles and tractors, leaving headroom for higher inventory filling in the coming months, according to Motilal Oswal Financial Services. The brokerage expects spillover demand from the festive season and inventory refilling to drive demand for for passenger vehicles and tractors.

05:20 AM

Maruti Suzuki Posts 20% Sales Growth

Maruti Suzuki India Ltd. posted total sales of 160,226 units in December 2020 led by compact vehicles, LCVs and Vans. This is a growth of 20.2% over the 1,33,296 units sold in the same month last year, the country’s largest automaker said in a statement.

Domestic sales rose 19.5% at 1,50,288 units and exports were up 31.4% at 9,938 units.

“The Company remains committed to the health, safety and well-being of all members across the value chain. All manufacturing, sales and service operations continue to take place fully consistent with all safety requirements for employees and customers,” the statement said.

Maruti Suzuki registered a growth of 13.4% in the third quarter of the current financial year with total sales of 4,95,897 units.

03:52 AM

Escorts Reports Highest Ever December Sales

Escorts Ltd.’s agri machinery segment sold 7,733 tractors in December, the highest ever recorded in the month, the company said in a statement to the exchanges. The automaker registered a growth of 88% against the 4,114 tractors sold in the same month last year.

Domestic tractor sales grew 90% year-on-year at 7,230, while exports were up 63.3% at 503 units.

"Going forward all macroeconomic factors remain in favour of continued growth and we do not expect any significant supply-demand gaps,” the company said. “Rising Inflation, however, continues to be a worry.”