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July Auto Sales Reports: Bajaj Auto Clocks Best July Sales Since 2010 While Maruti Suzuki Declines
Driven by strong rural demand, auto sales for the month of July were expected to rise for most segments. Sales were affected by recent 8-day long truckers' strike and confusion on rules of higher axle load. Here are the results of sales of leading automobile companies for the month of July 2018.
Bajaj Auto reports Best July Sales Since 2010
According to its stock exchange filing, Bajaj Auto Ltd reported a 30 percent increase in sales from July 2017, to 4 lakh units. This is its best sales growth for the month of July since 2010.
Its motorcycle sales were up by 25 percent to 3.32 lakh units and commercial vehicles sales were increased by 59 percent to 67,663 units when compared to the same period last year. Its overall exports were 34 percent higher to 1.62 lakh units in July.
Shares of Bajaj Auto rose by 2.5 percent to Rs 2,768 per share after the announcement making it one of the top performers on Sensex.
Maruti Suzuki sales decline for the first time since 2016
Maruti Suzuki sales fell in the month of July 2018, making it the first sales decline for the country's largest automaker since December 2016. It sold 1.64 lakh units in July, which is 0.6 percent less than last year, as per the stock exchange notification.
The sales reported in the mini vehicles segment was 10.9 percent lower at 37,710 units, while sales in Compact segment were up by 17.8 percent to 74,373 units. Overall domestic sales rose 0.1 percent to 1.54 lakh units, while exports dropped 9.9 percent to 10,219 units.
shares of Maruti Suzuki were down by as much as 2.3 percent to Rs 9,301.40 apiece after the announcement, making it one of the worst performers on Sensex.
Ashok Leyland sales increases
The Chennai-based vehicle makers' sales rose 27 percent in July 2018 on a yearly basis to 15,199 units, according to its stock exchange filing.
Sales of its medium and heavy commercial vehicle segment increased by 22 percent to 10,996 units, while light commercial vehicles were sold 42 percent more than last year at 4,203 units.
The shares of Ashok Leyland was up by 4.3 percent to Rs 17.70 apiece on the announcement.
Mahindra and Mahindra sales rise by 13%
Mahindra and Mahindra Ltd sales increased by 13 percent to 47,199 units in July 2018 from a year ago period. In July 2017, it sold 41,819 units.
Commercial vehicle sales were up by 28 percent to 19,284 units, while three-wheeler sales increased by 47 percent to 5,540 units. Total domestic sales were up by 12 percent to 44,605 units and total exports rose by 31 percent to 2,594 units.
The share price of Mahindra and Mahindra Ltd has been fluctuating throughout the trading hours.
