Tata Motors, Bajaj Auto, Other Vehicle Manufacturers See Shares Rally As Feb Sales Numbers Come In

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.

Read Next: Tata Motors Shares Jump As Company Said To Plan ₹8,000-Cr Funding Through EV Division

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Posted In: automobile industryBajaj AutoMahindraMaruti SuzukiSUV SalesTata Motors