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Automobile Companies Report Double Digit Growth for April

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It appears that the automobile industry has kick-started the financial year 2018-19 on a strong note. There are four companies that have reported their sales number for the month of April and more to come. The key factor is that all the four major automobile companies have reported double-digit year-over-year growth in April. While Tata Motors’ sales surged 86 percent in April, Maruti Suzuki witnessed sales growth of 14.4 percent in the same period. The latest period has GST effect whereas the previous year period did not.

Tata Motors

The company reported 86 percent jump in sales to 53,511 units in April from 28,844 units in the previous year month. The company cited the continued demand for its passenger and commercial vehicles in the domestic turf. Its domestic commercial vehicles sales accounted for a 126 percent jump at 36,276 units. Similarly, its medium and heavy range of commercial vehicle truck division witnessed 317 percent surge in sales to 14,028 units in the same month.

Tata Motors’ other divisions have also reported strong sales number. For instance, intermediate and light commercial vehicle truck division recorded sales growth of 94 percent to 3,229 units. In the same way, small commercial vehicle cargo, as well as, pick-up division witnessed 84 percent jump in sales to 14,620 units.

Maruti Suzuki’s 14th Consecutive Monthly Increase

Maruti Suzuki disclosed that its sales expanded for the fourteenth consecutive month in April. The company’s performance was driven by the compact division. India’s biggest carmaker witnessed 14.4 percent sales growth to 1,72,986 units in April. On the whole, sales numbers for April was the biggest in a 12-month period.  Compact segment drove the sales with a 31 percent increase. The domestic sales recorded 14.2 percent increase to 1,64,978 units in April while exports jumped 19.2 percent to 8,008 units.

The company’s utility vehicle segment sales dipped 2.8 percent to 37,794 units. The vehicles included in the segment were Alto and WagonR. On the other hand, compact segment sales jumped 31.8 percent to 83,834 units, according to a BloombergQuint report. While van segment added 14 percent sales, utility vehicles division sales remained flat. However, light commercial vehicles sales jumped 275 percent to 1,544 units.

Mahindra & Mahindra

The company’s sales increased 22 percent to 48,097 units in April while total tractor sales advanced 18 percent. Total domestic sales jumped 19 percent to 45,217 units. Its passenger vehicle sales added 13 percent to 21,927 units whereas sales of medium and heavy commercial vehicles jumped 225 percent to 904 units. Of the 18 percent increase in total tractor sales, domestic sales accounted for 19 percent to 25,208 units. On the other hand, exports of tractor grew 10 percent to 943 units. Total exports jumped 88 percent to 2,880 units.

Eicher Motors

Eicher Motors, which is engaged in motorcycles production, witnessed 27 percent increase in sales driven by demand for the higher capacity vehicle. Total sales grew 27 percent to 76,187 units in April. Of this, sales of vehicles with engine capacity of a maximum of 350 cc jumped 24 percent to 70,111 units whereas sales of vehicles with more than 350 cc engine climbed 60 percent to 6,076 units. Significantly, exports fell 1 percent to 1,560 units.

Viraj Shah likes calling himself the owner here. A trader who likes writing, technical analysis, consulting and has been investing in stocks from past 8+ years. He wants to share his knowledge through Thefinancetime. He has faced a lot of ups and downs but that has not stopped him.. We all call him the PROFESSOR of the TheFinanceTime.

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