Auto Sales Data for June 2024

In the beginning of the July 2024 month, automakers such as Maruti Suzuki, Tata Motors, Hyundai, Mahindra, Hero MotoCorp, Bajaj, Royal Enfield, Honda, Suzuki, TVS, and more will be highlighting their sales for the June month. The report contains information on their last month’s sales numbers, export growth year on year (YoY), and export volume.
The data on vehicle sales covers passenger vehicles sold in the past month, scooters sold, motorcycles sold, electric vehicles sold, and even commercial vehicles such as 2-wheelers, cars, and other larger vehicles.

Tata Motors Declines 8%:

Tata Motors sales fell 8% year on year to 74147 units last month as all the segments of its automotive business suffered, but as per the quarter ended on June 30, domestic volume was up by 2% YoY at 2.25 lakh units, which is back by commercial vehicles. This indicates that while Tata Motors may have experienced a decline in sales for the last month, there is still growth in their domestic volume overall. 

Marginal growth in the 2-wheeler sector:

Despite the heatwave and elections, two-wheeler sales still saw a slight increase in June 2024. Despite Royal Enfield’s decrease in sales, the overall trend in the motorcycle industry seems to be positive, with Hero MotoCorp, Bajaj, and TVS all reporting year-over-year growth. This could indicate that there is still strong demand for motorcycles on the market and that consumers are continuing to purchase these vehicles despite economic challenges. 85% of domestic two-wheeler sales are due to their high demand.

Conclusion: The overall sector may have experienced a decline in the last month, but year-on-year growth remains high for the automotive sector. This can be attributed to the impact of the election season and the heatwave it created in terms of consumer spending and confidence. However, it is important to note that these results are likely to change from this month onward as market conditions stabilize post-election. It will be interesting to see how the automotive sector adapts and evolves in response to these changing dynamics.

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.