February Auto Sales Live: Hyundai Sales Rise 26.4%, Maruti Suzuki Posts 11.8% Growth

Hyundai Motor India Ltd.'s overall sales rose 26.4% year-on-year in February led by strong demand across its products, to 61,800 units, compared to 48,910 units sold in the same time last year.

• Domestic vehicle sales rose 29% to 51,600 units.

• Exports rose 14.6% to 10,200 units February

"Both domestic and export demand have recorded healthy double digit growth in February 2021, reflecting an all-round improvement in buyer sentiment," Tarun Garg, Director (Sales, Marketing & Service), HMIL said in a statement.

Ashok Leyland Ltd. reported an overall sales growth of 19% year-on-year at 13,703 units in February, according to the company’s exchange filings.

Domestic Medium and heavy commercial vehicle sales rose 5% to 7114 units from 6,745 units last year.

Domestic Light commercial vehicle sales grew 46% to 5662 units in February compared to last year.

Maruti Suzuki India Ltd. posted total sales of 164,469 units in February led by utility vehicles, compact segment, LCVs and Vans. This is a growth of 11.8% over the 147,110 units sold in the same month last year, the country’s largest automaker said in a statement.

• Total domestic sales rose 11.8% at 152,983 units and exports were up 11.9% at 11.486 units.
• Domestic passenger vehicle sales rose 8.3% to 144,761 units in February compared to last year.
• Mini and compact vehicle segment rose 7.3% to 104,476 units compared to last year.
• Utility vehicle sales continue to see increased demand as sales grew 18.9% over the last year to 26,884 units.

Bajaj Auto Ltd reported a 6% increase in total sales in February driven by a strong pickup in exports. The firm sold 3.75 lakh vehicles last month compared to 3.54 lakh units it sold during the same time last year, according to an exchange filing.

• Total domestic sales fell 2% to 1.64 lakh units in February.
• Total exports rose 13% to 2.10 lakh units
• Total two-wheeler sales rose 7% to 3.32 lakh units, as exports jumped 12% to 1.83 lakh units
• Total commercial vehicle sales fell 5% to 42,454 units in February

Domestic sales of two-wheelers is expected to slow down in February as commodity prices surged and pent-up demand waned, according to estimates by four brokerages.

Only Hero MotoCorp Ltd. among the listed automakers tracked by analysts is expected to report a decline in shipments over the year earlier. That compares with a 4-30% year-on-year estimated rise in wholesales for cars to commercial vehicles, data compiled from research reports of Motilal Oswal, Emkay Global, Dolat Capital and Prabhudas Lilladher showed.

Month-on-month, barring Escorts Ltd., Ashok Leyland Ltd. and Hero MotoCorp, all other automakers are estimated to have witnessed a decline in sales.

Inquiries for two-wheelers during the month were lower for both urban and rural regions, according to Deep Shah and Amber Shukla, analysts at Prabhudas Lilladher. “Demand for entry-level declined 10-12% year-on-year, while the premium segment (150cc and above) dropped 15-16%,” they said, adding dealers are holding an inventory of 1-1.5 months.

Demand for passenger vehicles, on the other hand, is expected to remain strong even as production suffered because of supply constraints, analysts said. “Wholesales volume for most OEMs such as M&M, Tata Motors and Toyota are affected due to acute shortage of semiconductors,” Dolat Capital said.