Auto Stocks in Focus: November 2024 Sales Released

The Indian automobile industry has been supporting the country’s economic growth substantially over the years, India is also a prominent auto exporter with strong export growth expectations for the near future. Also, India is likely to be one of the global leaders in the two-wheeler and four-wheeler market in future with support from the government through several initiatives such as the Automotive Mission Plan 2026, scrappage policy, and production-linked incentive scheme.

During November 2024, the auto players presented mixed numbers with double-digit growth recorded by Maruti Suzuki and muted growth by Tata Motors.

Auto Sales November 2024

• Maruti Suzuki’s total sales include domestic sales of 1,44,238 units, sales to other OEMs of 8,660 units and exports of 28,633 units.
• Tata Motors posted domestic sales of MH&ICV in November 2024, including trucks and buses, stood at 12,481 units, compared to 12,303 units in November 2023.
• During November 2024, Hyundai Motors achieved the highest ever monthly rural contribution of 22.1% in November 2024, augmenting HMIL’s reach in the hinterland of India.
• Hero MotoCorp achieved its highest-ever retail sales during the 32-day festive period, starting from Navratri.
• Mahindra sold 46222 vehicles in the domestic market in the utility vehicles segment, reflecting a growth of 16% and overall, 47294 vehicles, including exports.

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.