Tata Motors to Hero Moto Corp April sales figures: All you need to know
Upstox
3 min read • Updated: May 2, 2024, 5:32 PM
Summary
With the new financial year beginning last month, has the auto sector seen an increase in sales, or is the market struggling? Here are all the details, including sales numbers of various carmakers, along with their year-over-year growth in India.
Driving in the fast lane, the Nifty Auto index has kept the momentum going for the sixth straight month in April. At the onset of May month as well, the index tops the list of sectoral gainers. On Thursday, May 2, 2024, the Nifty Auto Index gained 1.13%, due to the release of auto sales numbers for April, which showed robust growth in the 2-wheeler segment.
Let's delve into the details and understand the key takeaways from April’s auto sales data.
Overview
Sales Volume (Domestic+Exports)
| Companies | April 2024 | April 2023 | Growth %(YoY) |
|---|---|---|---|
| Passenger Vehicles | |||
| Maruti Suzuki | 166,325 | 144,097 | 15% |
| Tata Motors | 47,983 | 47,107 | 2% |
| Mahindra & Mahindra* | 41,008 | 34,698 | 18% |
| Commercial Vehicles | |||
| Tata Motors | 29,538 | 22,492 | 31% |
| Maruti Suzuki | 3,426 | 999 | 243% |
| Ashok Leyland | 14,271 | 12,974 | 10% |
| Mahindra & Mahindra* | 27,606 | 25,783 | 7% |
| Bajaj Auto | 46,467 | 43,293 | 7% |
| Escorts Kubota | 7,515 | 7,565 | -0.7% |
| 2 Wheelers | |||
| Bajaj Auto | 341,789 | 287,985 | 19% |
| TVS Motors | 374,592 | 294,786 | 27% |
| Eicher Motors | 81,870 | 73,136 | 12% |
| Hero Motocorp | 533,585 | 396,107 | 35% |
Passenger Vehicles (PV)
The top 3 players in the passenger vehicles segment are Maruti Suzuki, Tata Motors and Mahindra & Mahindra. On average these 3 companies grew their sales number by 11.7% YoY for April 2024. Tata Motors grew its PV segment volume by 2% YoY for the month. Maruti Suzuki grew by 15% YoY and Mahindra & Mahindra (domestic sales) grew by 18% YoY for the month.
Mahindra & Mahindra is experiencing strong growth due to their utility vehicle segment and new SUV launches, which are gaining traction. In April, the company launched the XUV 3XO, starting at ₹7.49 lakh. According to Veejay Nakra, President of the Automotive Division, M&M, XUV 3XO is set to be the new disrupter in the compact SUV space
Commercial Vehicles (CV)
Highest growth was seen in Maruti Suzuki in the CV segment, showcasing a 243% YoY growth as compared to the previous year's period, on account of a lower base. Tata Motors grew the sales number by 31%. Mahindra & Mahindra and Bajaj Auto grew in single digits, showcasing a 7% YoY growth from the previous period.
The domestic sales number for Escorts Kubota showcased a decline of -1.2%, the reason being the demand for tractors due to ongoing elections, low reservoir water levels, decreased haulage activities, and moderate rabi output.
Two Wheelers
Highest growth was seen in Hero Motocorp, growing at 35% YoY from the previous period. The sales trend showcased growth in the 125cc and 400cc+ segments for the company. The Xtreme 125R is witnessing a strong pull across the country and the company is swiftly ramping up supplies to ensure smooth deliveries.
TVS Motors recorded a volume growth of 27% in this segment and an impressive 179% growth in the electric vehicle segment. The new Electric Mobility Promotion Scheme (EMPS) 2024 came into effect in April 2024 after FAME II ended in March 2024.
Bajaj Auto and Eicher Motors showcased a YoY growth of 19% and 12%, respectively.