Almost all automakers post healthy vehicle sales in February 2018

SPA Securities | March 6, 2018, 5:11 p.m.

Almost all automakers posted a healthy vehicle sales for the month of February 2018. In 2W space, BAL reported 31% in total sales while overall domestic sales increased 35%. RE, TVSL and HMCL reported a growth of 25%, 33% and 20% respectively. In the CV space, ASHLEY recorded 29% increase in total sales. M&M and TAMO reported 28% and 36% growth in CV sales during the month, fuelled by robust infrastructural developments, fresh tenders in car carriers, coal movement and the petroleum sector. In PV space, continuing the growth momentum, domestic sales of MSIL grew 13%. The compact car segment comprising the Swift, Baleno, Ignis, Celerio and Dzire models led the sales blitz up 39%. The new Swift had received 40,000 bookings before its rollout early February and along with the earlier model sold 14,445 units during the month ranking fourth in the pecking order in the Top 10 list of cars sold during the month. The Baleno has already been a frontrunner model for the carmaker selling 17770 units during the month. With the Swift production being shifted to Gujarat, the Baleno has more production capacity available at the Manesar facility. Its waiting is down to 8-12 weeks easing pressure at dealerships as well. The utility vehicle segment came next with an upswing of 14%. The Mini growth however remained flat at 2%. The Ciaz sedan continues to de-grow at 17%. A reason for this is the high GST rate enforced on hybrid cars. Tata Motors' domestic sales of PV were up 45%. This uptick came on the back of its new models - the Tiago, Tigor, Nexon and the Hexa that have been raking the numbers. Its passenger car segment posted a growth of 17% while the UV segment faced a step up of 165%. M&M remained laggard in the industry with sales growing 8%.

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