Ever wondered why your neighbour with the questionable fashion sense drives a sparkling new sports car, while you’re stuck chugging coffee out of a chipped mug in your 10-year-old hatchback? Or why do pickup trucks suddenly seem as prevalent as pigeons in every parking lot? Well, grab your wrenches and settle in, because we’re about to analyse the numbers, crack the codes, and figure out what makes the car market roar!
As a prominent global automobile manufacturer, Tata Motors Group, a part of the esteemed Tata Group, delivers a diverse range of vehicles, including cars, SUVs, trucks, buses, and defence vehicles worldwide.
CATEGORY | DEC-23 | DEC-22 | % CHANGE | Q3 FY24 | Q3 FY23 | % CHANGE |
HCV TRUCKS | 11,199 | 10,178 | 10% | 29,656 | 27,625 | 7% |
ILMCV TRUCKS | 5,675 | 5,255 | 8% | 15,411 | 14,092 | 9% |
PASSENGER CARRIERS | 3,060 | 2,694 | 14% | 7,704 | 6,494 | 19% |
SCV CARGO AND PICKUP | 12,734 | 14,827 | -14% | 38,964 | 43,493 | -10% |
TOTAL CV DOMESTIC | 32,668 | 32,954 | -1% | 91,735 | 91,704 | 0% |
CV IB | 1,512 | 995 | 52% | 4,791 | 4,210 | 14% |
TOTAL CV | 34,180 | 33,949 | 1% | 96,526 | 95,914 | 1% |
CATEGORY | 45261 | 44896 | % Change | Q3 FY24 | Q3 FY23 | % Change |
TOTAL DOMESTIC SALES | 76,138 | 72,997 | 4% | 2,29,610 | 2,23,001 | 3% |
In Q3FY24, Tata Motors Commercial Vehicles recorded domestic sales at 91,735, slightly surpassing Q3FY23’s 91,704. The M&HCV segment grew by 14%, driven by government infrastructure projects, core industry expansion, and sustained e-commerce growth.
The Passenger Commercial Vehicles segment showed a consistent post-pandemic recovery, with a ~19% increase. Q3FY24 witnessed a temporary pause in the YoY growth trend due to a higher base effect, state elections, and a post-festive rural consumption slowdown.
Anticipating improved demand in Q4FY24, driven by government infrastructure focus, a positive economic outlook, and demand-pull initiatives.
Mahindra & Mahindra Ltd, established in 1945, stands as India’s diversified automobile giant, spanning 2-wheelers, 3-wheelers, PVs, CVs, tractors, and more.
DECEMBER | YTD DECEMBER | |||||
CATEGORY | F24 | F23 | % Change | F24 | F23 | % Change |
UTILITY VEHICLES | 35,171 | 28,333 | 24% | 3,33,764 | 2,57,849 | 29% |
CARS + VANS | 3 | 112 | -97% | 13 | 2,009 | -99% |
PASSENGER VEHICLES | 35,174 | 28,445 | 24% | 3,33,777 | 2,59,858 | 28% |
COMMERCIAL VEHICLES | F24 | F23 | % Change | F24 | F23 | % Change |
LCV < 2T | 2,849 | 3,031 | -6% | 31,896 | 31,844 | 0% |
LCV 2 T-3.5 T | 12,668 | 16,170 | -22% | 1,45,107 | 1,45,351 | 0% |
LCV > 3.5T + MHCV | 2,371 | 879 | 170% | 18,571 | 6,532 | 184% |
3 WHEELERS (INCLUDING ELECTRIC 3WS) | 5,307 | 5,052 | 5% | 60,503 | 40,911 | 48% |
Mahindra & Mahindra Ltd. reported a 6% YoY growth in overall auto sales for December 2023, reaching 60,188 vehicles, including exports.
In the Utility Vehicles segment, domestic sales saw a robust 24% growth, totalling 35,171 vehicles, contributing to the overall figure of 36,349 vehicles, including exports. Domestic sales for Commercial Vehicles stood at 17,888.
Veejay Nakra, President of the Automotive Division, highlighted a 24% growth in SUV sales but acknowledged supply challenges on specific parts, expressing commitment to collaboratively address these issues with suppliers.
After the 2004 expiration of the Mazda collaboration, Sumitomo acquired a full stake, and a technical assistance agreement with Isuzu Motors followed. Renamed SML ISUZU in 2011, it now sees ownership with Sumitomo Corporation and Isuzu Motors holding 44% and 15% stakes, respectively.
CATEGORY | 2023-24 DEC | 2022-23 DEC | % CHNG | 2023-24 APRIL-DEC | 2022-23 APRIL-DEC | % CHNG |
CARGO VEHICLES | 425 | 389 | 9% | 2886 | 3132 | -8% |
PASSENGER VEHICLES | 521 | 570 | -9% | 6713 | 5417 | 24% |
TOTAL | 946 | 959 | -1% | 9599 | 8549 | 12% |
Established in 1981 through a joint venture with Suzuki Motor Corporation, the company became SMC’s largest subsidiary, holding a market leadership position in India’s passenger vehicle segment. Specializing in motor vehicle manufacturing and sales.
DECEMBER | APRIL-DECEMBER | JANUARY-DECEMBER | ||||
CATEGORY: SUB-SEGMENT | Models | 2023 | 2022 | FY 2023-24 | FY 2022-2023 | CY 2023 |
MINI | Alto, S-Presso | 2,557.00 | 99,765.00 | 99,634.00 | 1,74,008.00 | 1,58,537.00 |
COMPACT | Baleno, Celerio, Dzire, Ignis, Swift, Tour S, WagonR | 45,741.00 | 57,502.00 | 6,10,011.00 | 6,37,459.00 | 8,35,581.00 |
MINI + COMPACT SEGMENT | 48,298.00 | 67,267.00 | 7,09,645.00 | 8,11,467.00 | 9,94,118.00 | |
MID-SIZE | Ciaz | 489.00 | 1,154.00 | 8,903.00 | 11,518.00 | 10,995.00 |
PASSENGER CARS | 48,787.00 | 68,421.00 | 7,18,548.00 | 8,22,985.00 | 10,05,113.00 | |
UTILITY VEHICLES | Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-Cross, XLB | 45,957.00 | 33,008.00 | 4,60,588.00 | 2,60,172.00 | 5,66,545.00 |
VANS | Eeco | 10,034.00 | 10,581.00 | 1,00,954.00 | 96,135.00 | 1,36,010.00 |
TOTAL DOMESTIC PASSENGER VEHICLE SALES | 1,04,778.00 | 1,12,010.00 | 12,80,090.00 | 11,79,292.00 | 17,07,668.00 | |
LIGHT COMMERCIAL VEHICLES (LCV) | Super Carry | 1,714.00 | 1,525.00 | 23,613.00 | 26,607.00 | 35,012.00 |
TOTAL DOMESTIC SALES INCLUDING LCV (PV + LCV) | 1,06,492.00 | 1,13,535.00 | 13,03,703.00 | 12,05,899.00 | 17,42,680.00 | |
SALES TO OTHER OEM | 4,175.00 | 4,016.00 | 43,262.00 | 50,724.00 | 54,493.00 | |
TOTAL DOMESTIC SALES (PV+LCV+OEM) | 1,10,667.00 | 1,17,551.00 | 13,46,965.00 | 12,56,623.00 | 17,97,173.00 | |
TOTAL EXPORT SALES | 26,884.00 | 21,796.00 | 2,04,327.00 | 1,94,614.00 | 2,69,046.00 | |
TOTAL SALES (TOTAL DOMESTIC + EXPORT) | 1,37,551.00 | 1,39,347.00 | 15,51,292.00 | 14,51,237.00 | 20,66,219.00 |
In December, sports utility vehicle (SUV) sales saw an uptick, contrasting with a decline in small car sales despite substantial discounts, as revealed by Indian automakers’ data on Monday. Despite entry-level vehicles posing challenges for the automotive industry, manufacturers have found solace in the robust sales of premium vehicles. These cater to a wealthier demographic that remains relatively unaffected by inflation, underscoring a notable market trend.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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