Sep 02, 2013, 06.03 PM IST
Angel Broking has come out with its monthly updates for August 2013. Accordng to the research firm, on a yoy basis, the sales of Hero MotoCorp grew by 3.6 percent primarily due to the base effect. Going ahead, the company expects better monsoons to revive growth during the festival season.
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Angel Broking: Auto monthly - August 2013
Angel Broking has come out with its monthly updates for August 2013. Accordng to the research firm, on a yoy basis, the sales of Hero MotoCorp grew by 3.6 percent primarily due to the base effect. Going ahead, the company expects better monsoons to revive growth during the festival season.
Like this story, share it with millions of investors on M3
Angel Broking: Auto monthly - August 2013
Angel Broking has come out with its monthly updates for August 2013. Accordng to the research firm, on a yoy basis, the sales of Hero MotoCorp grew by 3.6 percent primarily due to the base effect. Going ahead, the company expects better monsoons to revive growth during the festival season.
Ashok Leyland
Ashok Leyland (AL) witnessed a steep decline of 18.3 percent mom in its total sales to 7,139 units led by the weak demand environment amidst slowdown in the economic activity. While medium and heavy commercial vehicle (MHCV) sales posted a decline of 21.1 percent mom; Dost sales too posted a decline of 11.3 percent mom during the month. On a yoy basis too, total sales declined by 24.3 percent with MHCV and Dost sales registering a decline of 25.1 percent and 22.4 percent yoy respectively.
Bajaj Auto
Bajaj Auto recorded an in-line volume growth of 11 percent mom to 312,188 units led by a 12.9 percent mom growth in the motorcycle sales primarily driven by the exports. Total exports surged sharply by 31 percent mom during the month. The three-wheeler sales however declined 2.6 percent mom as the sales continue to be impacted due to the slowdown in Egypt. Domestic sales too declined by 1.9 percent mom due to the weak demand for motorcycles. On a yoy basis, total sales posted a decline of 9.5 percent yoy following a 21.2 percent decline in domestic volumes. Exports however, registered a growth of 9.6 percent yoy. The company has launched new three-wheelers in an attempt to progressively replace the entire portfolio over the next 3-4 months. Further, the company also intends to launch new variants of Discover around the festival season.
Hero MotoCorp
Hero MotoCorp (HMCL) registered lower-than-expected volumes in August 2013 as volumes continue to be impacted by the slowdown in motorcycle demand and higher competition from Honda. Overall sales declined 5.7 percent mom to 459,996 units. However, on a yoy basis, the sales grew by 3.6 percent primarily due to the base effect. Going ahead, the company expects better monsoons to revive growth during the festival season.
Mahindra and Mahindra
Mahindra and Mahindra's (MM) tractor sales came in lower-than-expected at 14,158 units, down 23.3 percent mom as domestic sales declined by 23.8 percent mom during the month. However on a yoy basis, tractor sales grew by 7 percent yoy led by a 9.3 percent yoy growth in domestic sales driven by good monsoon and improved prospects for kharif crop. Meanwhile, the company has reached an agreement on the wage settlement issue with the workers at the Nashik plant after negotiating for almost a year. According to the media reports, the company will give an average wage hike of `9,300/ month to all its 2,950 permanent employees at the facility and the union has agreed to scale up production by 18 percent in a quid-pro-quo arrangement. The Nashik plant employs around ~4,000 workers, out of which ~1,000 are on contract basis, and produces models like Bolero, Scorpio, Xylo Quanto and Verito.
Maruti Suzuki
Maruti Suzuki (MSIL) registered a better-than-expected volume growth of 4.8 percent mom to 87,323 units driven by a strong 38.6 percent mom growth in exports. The domestic volumes though grew modestly by 1.2 percent mom and were led by a strong 25.4 percent mom growth in the compact segment. The utility vehicle sales of MSIL have slowed down considerably over the last few months due to the increasing competition from Renault and Ford and also due to the slowdown in demand for diesel vehicles post the recent hike in the fuel prices. On a yoy basis, total sales registered a growth of 61.2 percent yoy primarily due to the low base of last year. The company's sales in August 2012 were impacted due to the labor problems at the Manesar plant which had led to temporary shutdown in production.
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