Shares of several automakers including, Hero MotoCorp, TVS Motors and Bajaj Auto were trading higher on Friday morning as sales figures for the month of May came in.
The two-wheeler major on Thursday released its sales figure for May 2023. The world's largest manufacturer of motorcycles and scooters sold a total of 5.19 lakh units in the month, up 6.7% from the 486,704 units it sold in May 2022. Domestic sales were up 9% at 5.08 lakh as against 4.66 lakh vehicles it sold in May 2022.
Exports for the month nearly halved at 11,165 as compared to 20,238 units in May 2022. The automobile giant expects the momentum to continue “in the coming months, driven by an uptick in
customer sentiments, forecast of normal monsoon and a host of new launches in the premium segment.”
Tata Motors sold a total of 74,973 vehicles in May down 1.6% compared to 76,210 units it sold during May 2022. The Tata Group company. The commercial vehicles segment sales saw a 12% slump as it dropped from 32,818 in May 2022 to 28,989.
Conversely, there was positive growth in passenger vehicle sales, which saw a 6% year-over-year increase, reaching a total of 45,984 units. Exports grew 4.8% to 1,525 units this May as against 1,455 vehicles it sold during May 2022.
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In May, Bajaj Auto achieved total sales of 355,148 units, marking a 29% growth compared to the 275,000 vehicles sold in May of the previous year. Notably, domestic sales experienced a significant surge of 103%, reaching 228,000 units compared to the 112,000 units sold in May 2022.
However, the company’s export numbers remained dampened as the automobile behemoth only managed to sell 126,000 units, reflecting a 23% decline from the 163,000 units sold in May 2022.
The Royal Enfield maker sold a total of 77,461 bikes in May 2023, up 22% from the 63,643 units it sold in May last year. Exports were down 34% at 6,666 as against 10,118 units sold last May. The company’s total commercial vehicle sales stood at 6,289, marking an 11% growth from the 5,637 it sold last May.
The two-wheeler major registered a sales growth of 9% increasing from 302,982 units in May 2022 to 330,609 units in May 2023. The Apache maker sold 319,295 bikes in May 2023 a growth of 11% compared to 287,058 units in May 2022. The company’s exports continued to be weak as sales dropped to 76,607 units in May 2023 as against 110,245 units in May 2022. TVS iQube electric sales grew multifold to 17,953 units in May 2023 as against sales of 2,637 units in May 2022.
Price Action: Here is how shares of the automakers were trading on Friday morning.
TVS Motor’s share price was up 2.17% to trade at ₹1,299.75.
Eicher Motors shares were down 1.20% to trade at ₹3,671.35.
Hero’s share price was up 2.26% to trade at ₹2,863.55.
Tata Motors shares were down 0.06% to trade at ₹534.90.
Bajaj Auto’s share price was up 0.89% to trade at ₹4,685. The stock also hit a new 52-week high of ₹4,707 today.
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