Monday, October 5, 2009

[Investors Please Listen] Auto – September 2009 volume update

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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