Several vehicle manufacturers including Maruti Suzuki, Tata Motors, Bajaj Auto, and Mahindra And Mahindra were up as they released their sales numbers for last month.
Maruti Suzuki registered around 5% year-over-year growth in total sales at 1,72,321 units. The company’s exports however saw a sharp 29% YoY drop last month. Domestic sales on the other hand saw a 10.7% uptick as the company sold 1,55,114 units.
Tata Motors’ sales in the domestic & international market for February 2023 stood at 79,705
vehicles, compared to 77,733 last February registering a mere 2.5% YoY growth. The company’s total domestic sales came in at 78,006 units – a 6% YoY jump. The company’s passenger EV segment grew 81% YoY as the company sold 5318 units last month. The numbers seem to have provided relief to the stock that had been struggling at the bourses.
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Bajaj Auto sales continued to decline in February 2023 as the company’s total sales dropped 11% YoY to 2,80,226 units. The slump was majorly because of the downtrend in the company’s exports which fell 38% YoY to 1,26,935 units last month. However, the company’s domestic sales rose 36% YoY to 1,53,291 units.
Mahindra & Mahindra informed that it’s overall auto sales for the month of February 2023 stood at 58,801 vehicles – an 8% YoY increase. The company’s passenger vehicle segment grew by 10% YoY as it sold 30,358 units domestically. However, exports fell 20% YoY to 2,250 units. The company’s popular SUV segment saw a 10% uptick as the company sold 30,221 units last month.
Price Action: Here is how the shares of the companies traded in the late hours of trading on Wednesday.
Maruti Suzuki shares were 1.59% to trade at ₹8,763.25.
shares of Tata Motors traded 1.18% higher at ₹425.55
Bajaj Auto shares surged 1.89% to ₹3,730.
Mahindra And Mahindra was up 0.12% at ₹1,271.40.
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