2 + 4 Wheeler Auto Sales for August

Breaking NewsAutomobile dealer dispatches were mixed this month with strong dispatches in two wheelers (especially Hero Honda), and relatively weaker trends visible in the passenger car segment.

Impressive growth was driven by Hero Honda dealer dispatches (+27% Y/Y). Bajaj Auto’s domestic sales declined 7% Y/Y, whilst TVS’ domestic sales rose a modest 6% Y/Y. Hero Honda continues to build inventory levels ahead of the festive season. Sequentially, both motorcycle and 2 wheeler sales were up ~6% and 5% respectively.

Maruti Suzuki’s sales fell by 10% Y/Y due to a sharp decline in A2 (compact segment) sales. Retail offtake continues to be weak, given the adverse macro environment – higher interest rates and an erosion of wealth (in both property and financial markets)
Mahindra & Mahindra’s August sales rose 8% YoY; driven by strong tractor sales (+16% YoY). UV sales were muted (+2% Y/Y) as strong growth in non Scorpio sales (+12% Y/Y) was offset by weak Scorpio sales (-21% YoY).