Monthly Auto Sales: M&M, TVS, Hero sales grow yoy; Maruti sales normalise post strike - BRICS Research

Hero MotoCorp: In November 2011, Hero MotoCorp's sales grew 27% yoy (7% mom) to 536,772 units.

TVS Motor: Total sales at 175,535 units, was up 12% yoy (down 5% mom). Domestic sales were up 8% yoy (down 6% mom) at 150,406 units, while exports grew 53% yoy (21% mom) to 24,271 units. Company mentioned that they are worried about near term of high inflation, fuel prices, interest rates and slowdown in over all economic growth and hence did not want to increase trade stocks. So billing for the month is lower in order to have lower inventory at dealer levels. The company maintains their annual volume growth target of 15% for FY12.

M&M: Total sales volume in November 2011 was up 30% yoy (down 15% mom) at 58,249 units. Passenger UVs sales were at 16,686 units, up 46% yoy (down 7% mom). Four wheel pickup sales stood at 13,362 units up 74% yoy (flat mom). Total automotive segment sales were up 53% yoy at 40,722 units.

Maruti Suzuki: Maruti's total sales for November 2011 were up 65% mom at 91,772 units (down 19% yoy) mainly due to end of strike at Manesar plant and production normalising to earlier levels. The company lost production of over 40,000 units (Gurgaon and Manesar) in October.

Source : Equity Bulls

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