Nomura estimates mixed November auto sales; PV sales to decline

For the November month, car income fig are owed to beryllium released connected December 1. Domestic brokerage Nomura expects car income to beryllium mixed with betterment expected successful the agrarian demand, portion the municipality request is estimated to stay weak.

Segment-wise, the rider conveyance (PV) income whitethorn continue to spot pressure, amid tepid request contempt steep discounts being offered during the festive season.

Also, successful the different segments including the two-wheeler (2W) and commercialized vehicles (CVs), the request is expected to stay sluggish.

Nevertheless, connected the affirmative side, the income inclination volition amusement affirmative maturation during the reappraisal period.

Further, the brokerage anticipated the CV conception to grounds betterment going guardant successful H2, with request for tractors remaining strong.

In commercialized contiguous (November 29), Nifty Auto ended a crisp implicit 1 per cent, led by gains successful M&M, Maruti Suzuki and Tata Motors among others.

Here are the estimates crossed companies and segments

PV                                                                Nov-24            Nov-23      %change

MARUTI                                              1.78 Lakh          vs       1.64 Lakh             UP 8.6%

Hyundai                                                 64000            vs           65800             DOWN 2.7%

M&M (AUTO)                                            81000             vs          70576                UP 14.8%

TATA MOTORS (Domestic PV)     43000              vs         46143                DOWN 7%

In the PV segment, the companies are expected to registry mixed income with income rising for Maruti Suzuki year-on-year, portion the aforesaid for Hyundai volition study a decline.

2W                                                              Nov-24            Nov-23      %change

HERO MOTO                                             4.75 Lakh         vs        4.91 Lakh         DOWN 3%

BAJAJ AUTO (2W)                                      3.64 Lakh       vs        3.49 Lakh             UP 4%

BAJAJ AUTO (TOTAL SALES)             4.26 Lakh        vs        4.03 Lakh             UP6%

TVS MOTOR (2W)                                     3.85 Lakh        vs        3.52 Lakh            UP 9%

TVS MOTOR (TOTAL SALES)                     3.96 Lakh        vs         3.64 Lakh             UP 9%

EICHER RE                                                    83000              vs            80251                UP 3%

CV                                                                  Nov-24            Nov-23      %change

EICHER VECV                                                 6400               vs         5194                     UP 23%

ASHOK LEYLAND                                   14300                vs        14053                    UP 2%

TATA MOTORS (Total CV)                          30000                vs        28029                    UP 7%

TRACTOR                                                    Nov-24            Nov-23      %change

M&M                                                                   35200          vs            32074                 UP 9.7%

Escorts                                                              7000           vs              8258