Nifty Auto struggles on mixed auto sales numbers

Auto majors reported mixed set of sales numbers for the month ended January 2019. With this, Nifty Auto struggled and made an intraday low of 8,325.75, down by 59.05 points at 14:47 hours.

Maruti Suzuki, leader in passenger car space, posted muted sales numbers. It sold total 1,51,721 units in January 2019 which includes 1,42,150 units in the domestic market and 9,571 units of exports. It has registered muted growth of 0.2 per cent in sales of Domestic Passenger Vehicles. However, exports sales declined by 11 per cent YoY.

Mahindra & Mahindra, which has a wide-presence from two-wheeler to tractor space, posted moderate sales numbers. It sold 55,722 vehicles during January 2019, 7 per cent YoY growth. It has registered 1 per cent YoY growth in Passenger Vehicles and 8 per cent YoY decline in Commercial Vehicles. Its domestic sales increased moderately by 6 per cent whereas exports jumped by 22 per cent. Under Farm Equipment division, domestic sales and exports increased slightly by 1 per cent and 2 per cent, respectively.

Eicher Motors, which produces iconic bike Royal Enfield as well as commercial vehicles, posted negative numbers with a decline in motorcycle sales of upto 350cc by 7 per cent YoY. Also, sales of motorcycles exceeding 350cc declined by 4 per cent YoY. Besides, motorcycle exports grew by 9 per cent YoY.

Tata Motors has sold 54,915 units in January 2019, 8 per cent YoY decline. The sale of CVs declined by 6 per cent YoY domestically and sale of M&HCV declined by 9 per cent YoY. On the export front, the sales declined by 37 per cent YoY.

Bajaj Auto posted an overall healthy set of numbers with a jump in total sales by 15 per cent YoY. Sale of motorcycles jumped by 21 per cent. However, CV sales declined by 12 per cent YoY.