''For August, with the festive season inventory ramp up going on, most OEMs have seen handsome volume growth. Two-wheeler industry volumes are estimated to have grown 18% YoY (including exports) with strong growth shown by most players like HMCL, HMSI and TVS while BAL has managed to grow ~2% YoY on the back of growth in the export markets,'' according to ICICI Securities.
''The passenger vehicle segment (including exports) witnessed growth (estimated 10% YoY) mainly on account of the strong performance of market leader Maruti Suzuki, which saw strong 27% YoY growth. M&M and Tata Motors, however, continued to see volume declines in the domestic markets while Hyundai continued to witness a decline in export numbers even as its domestic volumes grew 13% YoY. The month also saw an improvement in the M&HCV segment on both YoY and MoM basis as sentiments have improved with a change in guard at the Centre. LCV volumes, however, have been on the decline and continued to be lower on a YoY basis,'' it added.
Maruti Suzuki’s domestic volumes have grown 30% YoY, with strong demand in the A segment aided by the newly launched Celerio and demand improvement for the 'C' and MPV segments
M&M’s UV segment has continued to underperform the PV segment with lack of products in the fast growing UV1 segment clearly showing on volumes and was down 12% YoY. Tractor volumes have been flattish in the domestic markets, even as peers have seen negative growth.
Hero MotoCorp's volumes at 5.6 lakh units grew 21% YoY while TVS, aided by new product launches in both scooter and motorcycle segments, grew 47% YoY. HMSI has also continued to show high growth aided by strong growth in the scooter segment. BAL's overall motorcycle sales grew 2% YoY, aided by exports even as domestic volumes have struggled
In the three-wheeler (3-W) segment, BAL saw its highest ever monthly volumes while TVS and M&M have also continued to register strong volumes.
The M&HCV segment recovery seems firmly in place, with positive numbers for both Tata Motors and Ashok Leyland.
The LCV segment has continued to decline with all major players Tata Motors and M&M (pick-ups) reporting a drop in volumes We would be coming out with our detailed monthly report (MotoGaze) post the release of the official Siam numbers in the second week of the month.
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