Shares of several automakers including Tata Motors, TVS Motor, Hero MotoCorp, and Maruti Suzuki were in focus on Tuesday as the companies released the sales figures for the month of April.
The two-wheeler major‘s April sales numbers were down on all counts. Total sales slumped 5.3% year-over-year to 396,107 units. Both domestic and export sales took a hit in April. Domestic sales were down 3% from the year-ago period at 386,184 units. Exports continued to remain weak, as sales halved to 9,923 units in April in comparison to the 20,132 units the company sold in April 2022.
Tata Motors sales were also down last month. The company sold a total of 69,599 in April 2023, as compared to d to 72,468 units in April 2022. Domestic sales were down 4% YoY to 68,514 units. Commercial vehicle sales took a 27% YoY hit as the company managed to sell 22,492 units this April. On the other hand, Passenger vehicle sales volume improved by 13% YoY to 47,007 units. EV sales continued to show healthy growth, as the company sold 6,516 units this April, up 179% YoY.
The company’s sales climbed up 4% YoY in April to 306,224 units this April. Two-wheelers sales grew 5% from 280,022 units in the month of April 2022 to 294,786 units in April 2023. Domestic two-wheeler sales surged 29% from 180,553 units in April 2022 to 232,956 units in April 2023. Two-wheeler exports remained dampened as sales slumped 37% to 61,830 units in April 2023 as against 99,489 units in April 2022.
The company’s total sales for the month stood at 160,529 units a 6% increase from the 150,661 units it sold in April 2022. Domestic sales were up 8.5% at 143,558 units compared to the 132,248 units the company sold in April 2022. Exports were muted this April as sales slumped 7.8% YoY to 16,971 units. The company in a press release said that the shortage of electronic components had some impact on the production of vehicles.
The company’s total sales were up 7% YoY at 3,31,278 units in April 2023. The company’s total domestic sales more than doubled at 2,13,172 units compared to the 1,02,177 units the company sold in April 2022. However, the massive gain in domestic sales was somewhat mitigated by export numbers. The company’s exports in April 2023 slumped 47% to 1,18,106 units from 2,08,597 units in April 2022. The auto giant’s commercial vehicle domestic sales surged a massive 250% to 31,344 units this April from the 8,944 units it sold in April 2022.
Price Action: Here is how shares of the automakers traded in the mid-market hours of trading on Tuesday.
TVS Motor’s share price was up 1.55% to trade at ₹1,156.
Bajaj Auto’s share price was up 1.19% to trade at ₹4,484.90.
Tata Motors’ share price was down 1.17% to trade at ₹479.30.
Share price of Maruti Suzuki was up 2.05% to trade at ₹8,765.50.
Hero’s share price was down 2.37% to trade at ₹2,498.
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