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August auto sales: Commercial vehicles see improvement; tractor demand inching up

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August auto sales: Commercial vehicles see improvement; tractor demand inching up

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The auto sales for the month of August have been a mixed bag

The auto sales for the month of August have been a mixed bag. However, there is some recovery in the economy, things are opening up, construction activity has picked up and that is reflected in the numbers.

Bajaj Auto
The company reported very good set of numbers in the month of August, the total sales growth was about 5 percent led largely by the export numbers. The export growth came in at 18 percent at 2 lakh units. The management was quite confident that even in the domestic market, there has been a pickup month on month and they expect that to continue. They also mentioned that exports should hold at a 2 lakh run rate in the month of September as well.
Escorts
The tractor segment has been under pressure. It reported a sales fall of around 12.7 percent year on year and was down 13.3 percent on a month-on-month basis. The sales are down to the second straight month although the management commentary has been positive. They said the demand has definitely improved. Farmer sentiment is strong and inquiry levels are building up driven by a favourable macro-economic factors.
The big takeaway this month is that commercial vehicle sales across the board have seen an improvement.
Eicher Motors
The company reported good growth of 93.5 percent year on year and 12.2 percent month on month in its Volvo Eicher commercial vehicle sales.
Ashok Leyland
They saw an improvement both year on year as well as month on month. The company reported highest sales since March 2021. So total sales growth was 48 percent year on year and medium and heavy commercial vehicle sales have gone up 79 percent.
Tata Motors
The company reported very strong sales in August, total sales coming in at 57,995 units and commercial vehicle sales has gone up 66 percent.
Maruti
The August auto sales for the company have come in below street expectations. Total sales came in at 1.3 lakh units versus a CNBC-TV18 poll of 1.33 percent and the management said production got hit because of supply chain and semiconductor issues.
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