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Market Update

India Car Sales Struggle and Motorcycle Sales Rise


Author: Mukesh Buch
ticker.com
Last Update: 8:46 AM ET May 02 2014

6:00 PM Mumbai Bajaj Auto total sales in April dropped 4% but export climbed 16%. Hero Motocorp sales climbed 14%. Maruti Suzuki total sales declined 11.4% after domestic sales plunged 13% and passenger car sales dropped 14%. M&M auto sales declined 12%. TVS sales climbed 15%.

The Sensex Index slid 13.91 to close at 22,403.89. The CNX Nifty fell 1.60 to close at 6,694.80. For the week, Sensex dropped 2.1%.

Gainers & Losers

Bajaj Auto Ltd slid 0.5% to Rs 1,904.65 after the company said total vehicle sales in April dropped 4% to 3,31,529 units from 3,44,178 units a year ago.

Bajaj said export climbed 16% to 1,50,714 units compared to 1,30,329 units but motorcycle sales marginally declined to 2,99,636 units from 3,00,827 units a year ago.

Sales of commercial vehicles plunged 26% to 31,893 units.

Hero Motocorp Ltd edged up 0.1% to Rs 2,197 after the company said total sales in April climbed 14.4% to 5,71,054 units compared to 499,113 units in April of last year.

Maruti Suzuki India Ltd dropped 1.7% to Rs 1,885.50 after the company said total vehicle sales in April declined 11.4% to 86,196 units.

Maruti passenger car sales in the month declined 14% to 65,786 units from 76,509 units a year earlier.

Maruti said total domestic sales plunged 12.6% to 79,119 units while total exports rose 4.4% to 7,077 units.

Mahindra & Mahindra Limited fell 1.5% to Rs 1,056.55 65 after the company reported auto sales in April declined 12% to 36,274 units and domestic sales plunged 15% to 34,107 units while export surged 42% to 2167 units.

The company said total tractor sales dropped 11% to 20,731 units as domestic sales fell 10% to 19,895 units while exports plummeted 17% to 836 units.

TVS Motor Company Limited surged 6.1% to Rs 101.05 after the company said sales in April climbed 15% to 190,683 units from 165,214 units a year ago.

During the month, motorcycle sales jumped 9% to 73,636 units and scooter sales soared 55% to 46,069 units from 29,692 units.

Exports during the month climbed 41% to 30,650 units compared to 21,714 units a year earlier.

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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc