Check Out September 2024 Auto Sales: Shares in Focus

Given its importance to economic growth, the Indian automobile industry has always been a reliable gauge of the state of the country’s economy. India is a significant vehicle exporter as well, and its exports are expected to rise significantly in the near future. In June 2024, the total production of passenger vehicles, three-wheelers, two-wheelers, and quadricycles was 23,36,255 units. The Indian passenger car market was valued at US$ 32.70 billion in 2021, and it is likely to reach US$ 54.84 billion by 2027, registering a CAGR of over 9% between 2022-27.  

During September 2024, the auto players posted mixed numbers, wherein a few two-wheelers recorded growth in sales, and car makers delivered mixed numbers

• In the Utility Vehicles segment, Mahindra sold 51,062 vehicles in the domestic market, reflecting a growth of 24% and overall, 52,590 vehicles, including exports. 
• During Q2 FY25, Tata Motors recorded sales of 2,15,034 vehicles, compared to 2,43,024 units during Q2 FY24.
• TVS Motors recorded a growth of 42% in EV sales increasing from 20,356 units in September 2023 to 28,901 units in September 2024.
• Hero Motocorp has sold 30,54,840 units in YTD FY’25 (Apr-Sep’24), translating into a 10% growth over the same period last year (Apr-Sep’23).

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.