December 2023 brought a mixed bag of results for the Indian automotive sector, as companies released their sales figures for the month. Eicher Motors reported a 7% fall in total motorcycle sales, primarily attributed to a decline in dispatches of more affordable models. In contrast, TVS Motor saw a significant surge of 27% in its total two-wheeler dispatches, with both domestic and international sales contributing to the rise.
Eicher Motors’ Motorcycle Sales Fall:
Eicher Motors Ltd.’s total motorcycle sales, led by the Royal Enfield brand, dropped by 7% to 63,387 units. This dip was influenced by reduced dispatches of comparatively affordable models. Sales for models with an engine capacity up to 350cc fell by 10%, while those exceeding 350cc witnessed an 11% rise. Exports also declined by 29% to 6,906 units.
TVS Motor’s Noteworthy Surge:
TVS Motor Co. stood out in December with a robust 27% YoY increase in total two-wheeler dispatches, reaching 2.90 lakh units. The surge was driven by both domestic and international sales. Overall sales rose by 25% to 3.02 lakh units, with domestic two-wheeler sales experiencing a remarkable 33% increase to 2.15 lakh units.
Tata Motors and Maruti Suzuki Showcase Diverse Performances:
Tata Motors Ltd. saw a 4% rise in total dispatches to dealerships, reaching 76,138 units. Passenger vehicle sales increased by 8% to 43,675 units, while electric passenger vehicle sales witnessed a substantial 29% growth to 5,006 units. On the other hand, total commercial vehicle sales fell by 1% to 32,668 units, with a 10% rise in heavy commercial vehicle sales offset by a 14% fall in small commercial cargo and pickup vehicle sales.
Maruti Suzuki India Ltd. experienced a 1.3% YoY decline in total dispatches to dealerships, reaching 1.38 lakh units in December. Domestic sales fell by 6% to 1.11 lakh units, primarily impacted by a 20.5% decline in the mini and compact segment. However, utility vehicle sales surged by 39% to 45,597 units, and exports rose by 23% to 26,884 units.
Other Highlights:
- Eicher Motors’ subsidiary VE Commercial Vehicles Ltd. recorded an 11% rise in dispatches to 8,026 units.
- Mahindra & Mahindra Ltd. observed a 24% increase in utility vehicle sales but an 18% decline in tractor sales.
- Bajaj Auto Ltd.’s total two-wheeler sales rose by 15%, driven by robust domestic dispatches.
As automakers navigate the post-festive season landscape, the industry continues to grapple with varying trends in demand, with commercial vehicle sales influenced by infrastructure development and passenger vehicle sales reflecting a slowdown post the festive season.
