Auto Stocks Live: Maruti Suzuki, Bajaj Auto, Tata Motors, TVS Motors shares rise in early trade on Monday

Shares of Maruti Suzuki rose 2.12% to ₹11,309.05 as at 11.55 am on the NSE.

Day’s high: ₹11,330

Day’s low: ₹11,151

(NSE data)

India’s passenger vehicle market witnessed varied performance across major automakers in November 2024.

While Maruti Suzuki, Mahindra & Mahindra, and Tata Motors posted year-on-year growth, Hyundai faced challenges in its domestic market.

Maruti Suzuki, the country’s largest carmaker, reported strong growth in total passenger vehicle sales, reaching 141,312 units during the month. This marked an increase from 134,158 units sold in November 2023. However, the company’s sales in October 2024 were higher at 159,591 units, indicating a month-on-month decline.

In November 2024, Maruti Suzuki India Limited recorded total vehicle sales of 181,531 units. This included domestic sales of 144,238 units, sales to other original equipment manufacturers (OEMs) of 8,660 units, and exports of 28,633 units.

Tata Motors also reported steady growth in its domestic and international markets. The company sold 74,753 vehicles in November 2024, up from 74,172 units in November 2023.

In the passenger vehicle (PV) segment, including electric vehicles (EVs), Tata Motors achieved total sales of 47,117 units, a 2 per cent year-on-year increase from 46,143 units in November 2023.

On the other hand, Hyundai Motor India Limited (HMIL) saw a slight decline in its domestic sales. The company reported domestic sales of 48,246 units in November 2024, down by 2.4 per cent from 49,451 units sold in November 2023.

However, its overall performance, including exports, remained robust. Hyundai recorded total sales of 61,252 units in November 2024, comprising 48,246 domestic units and 13,006 export units. Year-to-date (YTD) sales for Hyundai Motor India, covering the period from January to November 2024, stood at 7,09,041 units, reflecting the brand’s strong market presence.

Mahindra & Mahindra Ltd. (M&M Ltd.) overall auto sales for November 2024 stood at 79,083 vehicles, including exports. In the Utility Vehicles segment, Mahindra sold 46,222 vehicles in the domestic market, a growth of 16 per cent, and overall, 47,294 vehicles, including exports.

These figures highlight the mixed dynamics in the Indian passenger vehicle market. The automobile sector continues to navigate evolving consumer preferences, macroeconomic factors, and increasing competition, particularly in the EV space, which is gaining traction. Recently, the sector has also been facing challenges due to the slowdown.

ANI

Commercial vehicle maker Ashok Leyland on Monday said its total wholesales grew 1 per cent year-on-year to 14,137 units in November, 2024.

In the year-ago period, the company’s total wholesales stood at 14,053 units.

Domestic sales declined 4 per cent to 12,773 units last month, as compared to 13,031 units in November 2023, Ashok Leyland said in a statement.

Sales of medium and heavy commercial vehicles in the domestic market were 8 per cent up at 9,176 units, as against 8,500 units a year ago, it added.

Light commercial vehicle sales fell 11 per cent to 4,961 units last month, from 5,553 units in November 2023, the company said.

PTI

Top 5 gainers of Nifty Auto stocks as at 11.20 am

• Maruti (1.96%)
• TVS Motor (1.09%)
• M&M (1.08%)
• Bajaj Auto (0.87%)
• Tata Motors (0.65%)

Hyundai Motor India Limited (HMIL) registered total sales of 61,252 units (Domestic: 48,246 units and Export: 13,006 units) in November 2024. 

Stock declined 1.07% on the NSE to ₹1,896.05

Maruti Suzuki India on Sunday reported a 10 per cent year-on-year increase in its total sales at 1,81,531 units in November.

The automaker had dispatched 1,64,439 units to its dealers last November last year.

Total domestic passenger vehicle wholesales were at 1,41,312 units as compared with 1,34,158 units in the year-ago month, a growth of 5 per cent, it added.

Total electric vehicle (EV) registrations moderated in November following a strong surge during the festive October. However, the sales momentum remains robust, particularly in the electric two-wheeler segment, where traditional manufacturers are intensifying competition and posing a challenge to market leader Ola Electric. Meanwhile, in the electric car segment, MG Motor has emerged as a strong number two, overtaking Mahindra & Mahindra, driven by the success of its new product offering.

After achieving a record-breaking monthly volume of about 2.19 lakh units in October this year, total registration of battery-powered vehicles (including all segments) stood at about 1.92 units, an increase of 25 per cent over November 2023 volumes, according to Vahan data (as of 6 pm on Sunday).

In November, electric two-wheeler sales stood at 1.19 lakh units, down from 1.40 lakh units in October, but still the second-highest monthly number of this fiscal so far. However, last month’s volumes were 29per cent higher compared to November 2023, when sales were 0.92 lakh units.

Report by G Balachandar of businessline | Read here

Domestic passenger vehicle (PV) retail sales is estimated to be around 3.30-lakh units in November this year, down around 15 per cent year-on-year (y-o-y) as compared with around 3.80-lakh units in the same month last year.

However, in the wholesales numbers (dispatches to dealers), the industry is estimated to have sold around 3.50-lakh units in November against 3,35,954 units in the same month last year, Partho Banerjee, Senior Executive Officer – Sales and Marketing, Maruti Suzuki India (MSIL), told businessline.

Combination of several factors including the momentum of October continuing in November, ongoing rural demand, wedding season and increased sales of SUVs and good response for limited edition models helped the sales to grow, he said.

Report by S Ronendra Singh of businessline | Read here

Baja Auto on Monday reported domestic wholesales (dispatches to dealers) of 2,03,611 units of two-wheelers in November, down seven per cent year-on-year (Y-o-Y) as compared with 2,18,597 units in the same month last year.

However, exports for the company rose 26 per cent Y-o-Y to 1,64,465 units during the month as compared with 1,30,451 two-wheelers in November 2023.

Similarly, in the commercial vehicle segment, the company reported a decline of five per cent in the domestic sales to 37,243 units in November, as against 39,147 units in the corresponding month last year. But its exports grew by 10 per cent Y-o-Y to 39,147 units as compared with 14,808 units in November 2023.

Report by S Ronendra Singh of businessline | Read here

Steel Strips Wheels Limited achieved Net turnover of ₹371.52 Crore in November 2024 vs Net turnover of ₹371.98 Crore in November 2023 with a marginal dip of 0.12% y-o-y and achieved Gross turnover of ₹455.05 Crore in November 2024 Vs Gross turnover of ₹455.87 Crore in November 2023 with a marginal dip of 0.18% y-o-y.

Steel Strips Wheels stock trades flat on the NSE at ₹203.80

Ashok Leyland sold 14,137 units of vehicles, including exports, in November 2024 as against 14,053 units in November 2023. 

Stock traded at ₹227.77 on the NSE, down 1.86%. 

Bajaj Auto: November Sales at 4.21 lakh units versus poll 4.11 lakh units (Numbers seen marginally better than estimates)

Bajaj Auto shares trade 1.28% higher on the NSE at ₹9,149.30 as at 9.59 am.

Top gainers of Nifty Auto stocks:

Maruti (2.11%), TVS Motor (1.62%), Bajaj Auto (1.40%), Tata Motors (0.88%)