Auto stocks end mixed post-September sales figures

Shares of automobile companies ended mixed on Friday post-September sales figures. With a fall of 2.39%, Ashok Leyland emerged as the top loser in the BSE Auto index. It was followed by Maruti Suzuki (down 2.39%), Eicher Motors (down 0.70%) and Escorts (down 0.58%). On the other hand, the BSE Auto and Sensex closed 0.21% and 0.61% lower at 23814.47 and 58765.58, respectively.

The carmaker Maruti Suzuki said its total sales declined 46.16% year-on-year to 86,380 units in September 2021. Total sales in the month include domestic sales of 66,415 units (down 55.74% YoY), sales to other OEM of 2,400 units (down 6.54% YoY) and exports of 17,565 units (up 124.21% YoY). The company said its sales volume in September 2021 was adversely impacted due to shortage of electronic components. The company took all possible measures to limit the adverse impact.

Ashok Leyland’s total commercial vehicle (CV) sales rose 14% to 9,533 units in September 2021 from 8,332 units in September 2020. The company’s CV sales have increased by 2% from 9,360 units sold in August 2021. While the total sales of medium & heavy commercial vehicles (M&HCV) jumped 39% to 5,060 units, sales of light commercial vehicles (LCVs) declined by 5% to 4,473 units in September 2021 over September 2020.

Eicher Motors said that its subsidiary VE Commercial Vehicles (VECV) has sold 6,070 units in September 2021, registering a growth of 73.1% on a YoY basis. The commercial vehicles sales were higher by 26.6% as compared with 4,793 units sold in August 2021. Total domestic sales of Eicher trucks & buses increased 77.8% to 5,226 units.

On the other hand, shares of other auto majors including Mahindra & Mahindra, TVS Motor, Amara Raja Batteries, Hero MotoCorp, Exide Industries, Bajaj Auto and Tata Motors gained between 0.05% and 3%.

Tata Motors announced that its sales in the domestic and international market for Q2 FY22 stood at 1,71,270 vehicles, up by 55.2% from 1,10,345 units during Q2 FY21. The company’s total sales in the domestic market rose by 28% to 59,156 vehicles in September 2021 from 46,129 vehicles in September 2020. Total domestic sales increased by 55% to 1,71,270 vehicles in Q2 FY22 over Q2 FY21.

Bajaj Auto total auto sales in September 2021 stood at 4,02,021 units, down by 9% from 441,306 units sold in September 2020. The total auto sales were higher by 7.7% as compared with 3,73,270 units sold in August 2021. While the company’s domestic sales contracted by 16% to 192,348 units, export sales fell by just 1% to 209,673 units in September 2021 as compared with the same period last year.

Escorts also declined nearly 0.60% after the company’s total tractor sales declined by 25.6% YoY to 8,816 units in September 2021 from 11,851 units sold in September 2020. Tractor sales of the company’s Agri Machinery products segment (EAM) are higher by 54.9% as compared with August 2021. Domestic tractor sales in September 2021 were at 7,975 tractors as against 11,453 tractors in September 2020, registering degrowth of 30.4% on a YoY basis.