PV dispatches at new excessive, 2Ws develop in double-digits, CVs muted, ET Auto

New Delhi: Dispatches of passenger automobiles (PVs) and two- wheelers throughout February had been in inexperienced and mirrored a constructive pattern. Nevertheless, gross sales of business automobiles (CVs) remained muted.

In response to business estimates, 3.73 lakh models of PVs had been dispatched throughout February this yr, as towards 3.55 lakh models in February 2023, a progress of 11%.

Retail gross sales for PVs are estimated at 3.35 lakh models in February, when in comparison with 3.01 lakh within the corresponding month of final yr, once more a progress of 11%.

Shashank Srivastava, Senior Government Director- Advertising and marketing & Gross sales, Maruti Suzuki, mentioned, “February 2024 is the 14th straight month of highest-ever wholesales, ranging from January 2023.”

February 2024 can be the third month of highest wholesales this yr, after 3.94 lakh models dispatched in January 2024 and three.91 lakh models October 2023, he added.

In response to Srivastava, the PV stock with the dealerships stands at about 3 lakh models now, ranging round 25 to 26 days of car inventory within the business.

Following an improved provide of automobiles, business specialists categorical warning on stock pile-up in dealerships.

For the April-February interval, PV dispatches stand at 38.59 lakh models, once more to 35.53 lakh models throughout the identical interval final yr, a progress of 9%.

Srivastava estimates that the PV section is anticipated to file 42.1 lakh unit gross sales throughout FY 2023-24, as towards 38.9 lakh in FY 2022-23, marking a year-on-year progress of 8%.

The next is a segment-wise report of car dispatches throughout February 2024.

Passenger automobiles

Pushed by a requirement for SUV fashions, all of the OEMs reported their dispatches in inexperienced. Market chief Maruti Suzuki dispatched 1.60 lakh models within the home market throughout February, marking a YoY progress of 9%.

SUVs now account for a little bit over 50% of the general gross sales within the business.

Srivastava of Maruti Suzuki famous that the expansion within the rural sector stays barely increased than the city progress. “This pattern is prone to proceed as we see a sharper enhance in rural incomes, infrastructure spending and a close to regular monsoon. Though the meals inflation continues to be excessive, the general sentiment is constructive.”

“Whereas the output from the rabi sowing season is but to be seen, the kharif output has been 4.5% much less when in comparison with final yr. In some states, the sentiment in rural areas could also be much less constructive, however total the demand stays sturdy,” he mentioned.

For February, Tata Motors moved as much as the second spot at 51,267 unit gross sales over Hyundai, which has been the second-largest carmaker within the nation for years now.

Sabari Manohar, Vice President (Gross sales-Service-Used Automotive Enterprise), Toyota Kirloskar Motor, mentioned, “We proceed to witness rising demand coupled with good buyer enquiries from throughout the areas. Notably, the SUV and MUV fashions are on the forefront of this demand surge.”

For MG Motor India, 33% of its gross sales comes from electrical automobiles (EVs). The corporate mentioned it’s gearing as much as work on “potential logistics points on account of disruption in international delivery as a consequence of assorted worldwide occasions.”

Two-wheelers

Wholesales for all the 2 wheeler makers grew double digit YoY, besides Royal Enfield.

Market chief Hero MotoCorp reported a progress of 16% in its volumes to file 4.45 lakh models throughout February, up from 3.82 lakh offered within the corresponding month of final yr.

“The volumes within the month of February point out the constantly enhancing client sentiments and the corporate expects the constructive pattern to proceed within the coming months, on the again of favorable financial indicators,” Hero MotoCorp mentioned.

Throughout the month, the two-wheeler maker began gross sales of its recently-launched motorbike Xtreme 125R and launched the Mavrick 440, deliveries of that are to start in April. This comes in step with its technique of increasing the premium product portfolio.

Hero mentioned it’s within the means of scaling up the volumes of Harley-Davidson X440 and Mavrick 440 by the center of this yr.

In February, Suzuki Motorbike India mentioned it accomplished the manufacturing of 1 million models, absolutely using its plant’s annual manufacturing capability in lower than a yr. The corporate offered 83,304 models within the nation in the course of the month.

B Govindarajan, CEO, Royal Enfield, mentioned, “As we come to the shut of the monetary yr, we’re assured of a powerful and wholesome total efficiency, and imagine that we will proceed this momentum for the following yr as nicely.”

In response to an evaluation by Elara Capital, electrical two-wheeler excessive velocity scooter registrations in February 2024 was up 24% YoY. “This yr Feb had one additional day, boosting the expansion to a sure extent.”

Nevertheless, in comparison with January 2024, it was flat at 81,963 models.

Industrial automobiles

Market chief Tata Motors reported a 4% YoY drop in dispatches to 33,567 models in February 2024. All of the car classes had been in crimson, besides the passenger carriers.

Throughout February 2024, Tata’s SCV cargo and pickup recorded 13,701 unit gross sales, adopted by HCV vehicles at 10,091 models, L&MCV vehicles at 5,083 and passenger carriers at 4,692.

Equally, wholesales for Ashok Leyland additionally witnessed a dip of 6%.

Be part of the group of 2M+ business professionals

Subscribe to our publication to get newest insights & evaluation.

Obtain ETAuto App

• Get Realtime updates
• Save your favorite articles

Scan to obtain App