Auto – September 2009 volume update
Maruti Suzuki India Ltd (MSIL)
Total sales increased by 17.3% YoY to 83,306 units, in line with our expectations.
Domestic sales grew by 10.7% YoY to 71,594 units, in line with expectations.
Export volumes increased by 85.4% YoY to 11,712 units.
TVS Motor Company Ltd (TVSM)
Total sales were up by 3.9% YoY to 142,553 units, above our expectations.
Motorcycle sales declined by 14.8% YoY to 60,718 units
Other two-wheeler sales increased by 24.1% YoY to 81,835 units
Export sales were down by 43.7% YoY to 10,272 units.
Hero Honda Motors Ltd (HH)
Total sales increased by 4.2% YoY to 401,290 units, below our expectations.
Mahindra & Mahindra ltd (M&M)
Total UV sales increased by 36.8% YoY to 21,961 units, above our expectations
Three wheeler sales declined by 28.2% YoY to 4,262
Total tractor sales increased by 29.9% YoY to 43,912 units, above our expectation
Tata Motors Ltd (TML)
Total sales increased by 5.8% YoY to 52,513 units.
M&HCV sales increased by 2.4% YoY to 13020 units, in line with our expectations.
LCV sales increased by 15.9% YoY to 18,454 units, in line with expectations.
Car sales increased by 19.1% YoY to 15,802 units, including sales of Nano
TML sold 2,524 units of Nano in September 09.
Total domestic sales increased by 9.8% YoY to 49,650 units.
Export sales declined by 35.1% YoY to 2,863 units.
Bajaj Auto Ltd (BAL)
Total sales were up by 14.5% YoY to 280,916 units, above our expectations.
Three wheeler sales increased by 15.7% YoY to 31,121 units
Export sales increased by 17.7% YoY to 80,681 units.
Ashok Leyland Ltd ( ALL)
Total sales declined by 11.9% YoY to 5,452 units, below our expectations.
Total MHCV sales declined by 11.8% YoY to 5,372 units.
Total LCV sales declined by 17.5% YoY to 80 units.
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