AUTO SALES UPDATE for the month of March 2021 - SMIFS LIMITED
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AUTO SALES
UPDATE
for the month of March 2021
SMIFS LIMITED
5F, Vaibhav, 4 Lee Road, Kolkata – 700020, India
Auto Sales Update (March 2021)
April 05, 2021
Automakers reported substantial YoY sales growth on lower base of last year
Passenger Vehicles Sales for major players
March February
Particulars
2021 2020 YoY% 2020 MoM%
Maruti Suzuki India (Ex - Exports) 1,55,417 79,080 11.8 1,52,983 1.6
M&M (Ex - Exports) 16,700 3,383 394 15,391 8.5
Hyundai Motor India (Ex - Exports) 52,500 26,300 100 51,600 1.7
Source: Company, SMIFS Research
2W Sales for major players
March February
Particulars
2021 2020 YoY% 2020 MoM%
Hero Moto 5,76,957 3,34,647 72.4 505,467 14.1
Bajaj Auto 3,30,133 2,10,976 56.5 332,563 -0.7
TVS Motor 2,02,155 94,103 114.8 2,84,581 -29.0
Source: Company, SMIFS Research
CV Sales for major players
March February
Particulars
2021 2020 YoY% 2020 MoM%
Ashok Leyland 17,231 2,126 710.5 13,703 25.7
Eicher Motors 7,037 1,499 369.4 5,457 29.0
Source: Company, SMIFS Research
Comments
“The financial year 2020-21 for us has been a period of sharp revival and setting new milestones, despite the backdrop
of a significant downturn in the automotive market. During the fiscal, we surpassed the monumental milestone of 100
million units in cumulative sales since our inception. We are currently offering the broadest-ever range of scooters and
motorcycles, each with its own distinctive personality that resonates with our customers. In keeping with our vision to
‘Be the Future of Mobility’, Hero MotoCorp will be launching a host of new motorcycles and scooters over the next five
years.” - Mr. Naveen Chauhan, Head – Sales and After-Sales, Hero MotoCorp.
“The PV industry witnessed a strong growth in Q4FY21 on a low base with robust demand for personal mobility and
new launches driving demand. Tata Motors PV Business posted its highest ever sales in 9-years, in March 21 and Q4
FY21. In FY21 the business registered its highest ever annual sales in 8 years, while posting a growth of 69% versus
FY20. The company’s “New Forever” product range, including the new Tata Safari, continues to witness strong
acceptance in the market. In the EV segment, the company sold 4,219 units in FY21, a threefold increase over FY20.
The company also registered its highest ever monthly and quarterly sales of 705 EVs and 1,711 EVs in March 21 and Q4
FY21. Nexon EV, the highest sold EV in the country, crossed the milestone of 4,000 units, since its launch in January
2020.” - Mr. Shailesh Chandra, President, Passenger Vehicles Business Unit, Tata Motors Ltd.
SMIFS Limited Page No.
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5F, Vaibhav, 4 Lee Road, Kolkata – 700020, IndiaAuto Sales Update (March 2021)
Maruti Suzuki India Ltd.
MSIL SALES VOLUMES (In Units)
March YTD
Particulars
2021 2020 YoY% FYTD21 FYTD20 YoY%
Mini 24,653 15,988 -12.9 2,26,159 2,47,776 -8.7
Compact 82,201 40,519 15.3 7,19,647 7,87,610 -8.6
Mini + Compact 1,06,854 56,507 7.3 9,45,806 10,35,386 -8.7
Mid-Size 1,628 1,863 -40.6 13,852 25,258 -45.2
Total Passenger Cars 1,08,482 58,370 6.1 9,60,658 10,60,644 -9.4
Utility vehicles 26,174 11,904 18.9 2,29,101 2,35,298 -2.6
Vans 11,547 5,966 5.9 1,05,081 1,18,404 -11.3
LCV 3,315 736 507.6 29,556 21,778 35.7
Total Domestic (PV +LCV) 1,49,518 76,976 9.9 13,23,396 14,36,124 -7.8
Other OEM 5,899 2,104 103.8 38,326 25,002 53.3
Total Domestic (Domestic + OEM) 1,55,417 79,080 11.8 13,61,722 14,61,126 -6.8
Total Export 11,597 4,712 11.9 96,139 1,02,171 -5.9
Total Sales (Domestic + Export) 1,67,014 83,792 11.8 14,57,861 15,63,297 -6.7
Source: Company, SMIFS Research
Mahindra & Mahindra Ltd.
M&M Sales Volumes (In Units) (Automotive)
March YTD
Particulars
2021 2020 YoY% FYTD21 FYTD20 YoY%
Passenger Vehicles 16,700 3,383 394 157,216 186,977 -16
Utility Vehicles 16,643 3,111 435 155,530 179,405 -13
Cars + Van 57 272 -79 1,686 7,572 -78
Commercial Vehicles 21577 2742 686.9 176684 261318 -32.4
LCV 3.5T + MHCV 792 87 810 4,270 11,272 -62
3W 4,461 421 960 20,525 62,187 -67
Total Export 2,126 554 284 18,381 27,026 -32
Source: Company, SMIFS Research
M&M Sales Volumes (In Units) (Tractors)
March YTD
Particulars
2021 2020 YoY% FYTD21 FYTD20 YoY%
Domestic Tractors 29,817 13,418 122 343,833 291,901 18
Exports Tractors 1,153 195 491 10,665 10,014 7
Total Tractors Sales 30,970 13,613 128 354,498 301,915 17.4
Source: Company, SMIFS Research
SMIFS Limited Page No.
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5F, Vaibhav, 4 Lee Road, Kolkata – 700020, IndiaAuto Sales Update (March 2021)
Ashok Leyland
Ashok Leyland Sales Volumes
March YTD
Particulars
2021 2020 YoY% FYTD21 FYTD20 YoY%
M&HCV Trucks 8,784 860 921.4 43,320 53,227 -18.6
M&HCV Bus 1117 585 90.9 2,723 18,141 -85.0
Total M&HCV 9,901 1,445 585.2 46,043 71,368 -35.5
LCV 5,860 289 1927.7 46,671 44,912 3.9
Total Domestic 15,761 1,734 808.9 92,714 1,16,280 -20.3
M&HCV Trucks Domestic + Exports 9,674 879 1000.6 46,252 55,231 -16.3
M&HCV Bus Domestic + Exports 1427 899 58.7 5,555 23,323 -76.2
Total M&HCV Domestic + Exports 11,101 1,778 524.4 51,807 78,554 -34.0
Total LCV Domestic Exports 6,130 348 1661.5 48,908 46,646 4.8
Total Sales (Domestic + Exports) 17,231 2,126 710.5 1,00,715 1,25,200 -19.6
Source: Company, SMIFS Research
Eicher Motors Ltd.
Eicher Sales Volumes (In Units)
March YTD
Particulars
2021 2020 YoY% FYTD21 FYTD20 YoY%
Total Trucks & Buses 6,870 1,476 365.4 40,188 47,514 -15.6
Domestic 6,054 1,409 329.7 35,163 43,046 -18.3
Exports 816 67 1117.9 5,025 4,568 10.0
Volvo Trucks & Buses 167 23 626.1 1,080 1,107 -2.4
VECV Total 7,037 1,499 369.4 41,268 48,721 -15.3
Source: Company, SMIFS Research
Other Players
Sales Volumes (In Units)
March
Particulars
2021 2020 YoY%
Tata Motors Domestic (PV+CV) 66,609 11,012 505
Hyundai Motor Domestic 52,500 26,300 100
Toyota 15,001 7,023 114
Honda Cars 7,103 3,697 2.2
Sonalika Tractor Domestic + Exports 13,093 5,954 135
Source: Company, SMIFS Research
SMIFS Limited Page No.
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5F, Vaibhav, 4 Lee Road, Kolkata – 700020, IndiaAuto Sales Update (March 2021)
Hero MotoCorp
Hero MotoCorp Sales Volumes (In Units)
March YTD
Particulars
2021 2020 YoY% FYTD21 FYTD20 YoY%
Motorcycles 5,24,608 3,05,932 71.5 53,33,481 59,90,440 -11.0
Scooters 52,349 28,175 85.8 4,58,058 4,19,279 9.2
Total sales (domestic + export) 5,76,957 3,34,647 72.4 57,91,539 64,09,719 -9.6
Source: Company, SMIFS Research
TVS Motor Company Ltd.
TVS Sales Volumes (In Units)
March YTD
Particulars
2021 2020 YoY FYTD21 FYTD20 YoY%
Motorcycles 1,57,294 66,673 135.9 12,02,128 12,39,658 -3.0
Scooters 1,04,513 34,191 205.7 8,57,043 9,56,532 -10.4
Mopeds 52,781 32,482 62.5 5,53,127 6,01,027 -8.0
Total 2W 2,02,155 94,103 114.8 25,01,519 27,48,763 -9.0
Total 3W 15,246 10,751 41.8 1,07,730 1,57,445 -31.6
Total Sales 3,22,683 1,44,739 122.9 27,86,546 30,02,879 -7.2
Total Exports 1,19,422 50,197 137.9 7,94,736 7,69,249 3.3
2W exports 1,05,282 39,885 164.0 6,84,335 6,21,095 10.2
Source: Company, SMIFS Research
Bajaj Auto Ltd.
BAJAJ Sales Volumes (In Units)
March YTD
Particulars
2021 2020 YoY% FYTD21 FYTD20 YoY%
2W Domestic 1,81,393 98,412 84.3 18,09,375 20,78,348 -12.9
2W Exports 1,48,740 1,12,564 32.1 17,96,518 18,69,220 -3.9
Total 2W 3,30,133 2,10,976 56.5 36,05,893 39,47,568 -8.7
CV Domestic 17,158 18,129 -5.4 1,09,292 3,65,759 -70.1
CV Exports 22,157 13,470 64.5 2,57,729 3,01,885 -14.6
Total CV 39,315 31,599 24.4 3,67,021 6,67,644 -45.0
Total 2W + CV Domestic 1,98,551 1,16,541 70.4 19,18,667 24,44,107 -21.5
Total 2W +CV Exports 1,70,897 1,26,034 35.6 20,54,247 21,71,105 -5.4
Total sales (domestic + export) 3,69,448 2,42,575 52.3 39,72,914 46,15,212 -13.9
Source: Company, SMIFS Research
SMIFS Limited Page No.
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5F, Vaibhav, 4 Lee Road, Kolkata – 700020, IndiaAuto Sales Update (March 2021)
Eicher Motors (Motorcycles)
Eicher Sales Volumes (In Units)
March YTD
Particulars
2021 2020 YoY% FYTD21 FYTD20 YoY%
Upto 350 cc 58,471 30,372 93 5,58,154 6,19,898 -10
Above 350 cc 7,587 5,442 39 54,196 76,061 -29
Total Motorcycles 66,058 35,814 84 6,12,350 6,95,959 -12
Motorcycles export (included in total above) 5,885 3,184 85 38,622 39,308 -2
Source: Company, SMIFS Research
Escorts
Escort Sales Volumes (In Units)
March YTD
Particulars
2021 2020 YoY% FYTD21 FYTD20 YoY%
Domestic 11,730 5,228 124.4 1,01,848 82,252 23.8
Exports 607 216 181.0 4,893 3,766 29.9
Total sales (domestic + export) 12,337 5,444 126.6 1,06,741 86,018 24.1
Source: Company, SMIFS Research
SMIFS Limited Page No.
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5F, Vaibhav, 4 Lee Road, Kolkata – 700020, IndiaDisclaimer
Analyst Certification:
We /I, Sutapa Biswas, Research Analyst(s) of SMIFS Limited (in short “SMIFS / the Company”), authors and the names subscribed to this
Research Report, hereby certify that all of the views expressed in this Research Report accurately reflect our views about the subject
issuer(s) or securities and distributed as per SEBI (Research Analysts) Regulations 2014. We also certify that no part of our compensation
was, is, or will be directly or indirectly related to the specific recommendation(s) or view(s) in this Research Report. It is also confirmed
that We/I, the above mentioned Research Analyst(s) of this Research Report have not received any compensation from the subject
companies mentioned in the Research Report in the preceding twelve months and do not serve as an officer, director or employee of the
subject companies mentioned in the Research Report.
Terms & Conditions and Other Disclosures:
SMIFS Limited is engaged in the business of Stock Broking, Depository Services, Portfolio Management and Distribution of Financial
Products. SMIFS Limited is registered as Research Analyst Entity with Securities & Exchange Board of India (SEBI) with Registration
Number – INH300001474.
SMIFS and our associates might have investment banking and other business relationship with a significant percentage of companies
covered by our Research Analysts. SMIFS generally prohibits its analysts, persons reporting to analysts and their relatives from
maintaining a financial interest in the securities or derivatives of any companies that the analysts cover.
The information and opinions in this Research Report have been prepared by SMIFS and are subject to change without any notice. The
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5F, Vaibhav, 4 Lee Road, Kolkata – 700020, IndiaDisclaimer
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SMIFS Limited.
Vaibhav, 4 Lee Road, Kolkata 700020, West Bengal, India.
Contact No.: +91 33 4011 5414 /91 33 6634 5414
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