Vehicle Makers Q3 Result

Car market leader Maruti Suzuki sold 1.16 lakh units in January, a growth of 13.7 percent compared to 1.02 lakh units sold in the year-ago period driven by domestic as well as exports growth. Domestic sales grew 8.7 percent year-on-year to 1.05 lakh units during the first month of the calendar year 2015, largely supported by Ciaz car (that launched in October 2014). Exports jumped 89 percent to 11,047

units during the same period. Passenger vehicles sales climbed 7.9 percent to 89,014 units in January from 82,461 units in same month last year. Ciaz (which falls into the mid-size car segment) along with SX4 reported sales at 6,005 units in January against 191 units in the year-ago month. Super compact (like Dzire Tour) car segment growth was 33 percent and compact cars growth (Swift, Dzire, Celerio and Ritz) was 7.5 percent on yearly basis. However, mini car segment reported 7.3 percent degrowth, which include Alto and WagonR. Utility vehicles' (like Gypsy, Ertiga) sales grew 35 percent Y-o-Y and vans (Omni, Eeco) sales increased 8.2 percent in the month gone by. 

Tata Motors' M&HCV Grows Further Tata Motors ' total commercial and passenger vehicles sales (including exports) in January 2015 stood at 42,582 vehicles, a growth of 5 percent over 40,481 vehicles sold in January 2014. The company’s domestic sales of commercial and passenger vehicles for January 2015 were 38,621 units, a growth of 5 percent over 36,657 vehicles in January 2014. "While market continues to remain challenged by macroeconomic trends, besides positive growth in segments such as M&HCV and passenger cars, exports have grown in January 2015 by 4 percent (at 3,961 units) over last year," said Tata Motors in its filing. M&HCV is medium and heavy commercial vehicle while LCV is light commercial vehicle. Company’s sales of commercial vehicles in January 2015 in the domestic market remained flat at 25,574 numbers on yearly basis. LCV sales were at 14,301 units, a decline of 18 percent over January 2014, while M&HCV sales continued to show growth at 11,273 units, which was higher by 38 percent, over January 2014. In January 2015, Tata Motors sold 13,047 units of passenger vehicles, up 19 percent compared to 10,974 units sold in January 2014. "The trend of growth in passenger vehicles continued - with the strong Zest sales and the good response to the all-new Bolt," said the company. While the sales of the passenger cars in January 2015 were at 11,637 units, higher by 38 percent, over January 2014, the utility vehicle sales declined 44 percent at 1,410 units, in January 2015. 

Ashok Leyland Rides Strong Sales Ashok Leyland , the second largest commercial vehicle maker in India, reported a 36 percent growth in total sales at 10,639 units in January year-on-year, driven by M&HCV. M&HCV sales grew 45 percent on yearly basis to 8,005 units and LCV sales increased 14 percent to 2,634 units in the month gone by. 

M&M Disappoints Utility vehicle maker Mahindra and Mahindra sold 39,930 units in January, down 6 percent compared to a year-ago month, impacted by domestic sales. Domestic sales dropped 8 percent on yearly basis to 37,045 units whereas exports grew 22 percent to 2,885 units in the month gone by. Passenger vehicle sales of the company declined 5 percent year-on-year to 18,804 units and commercial vehicle sales down 14 percent to 12,919 units in January. Total tractor sales fell 26 percent to 14,913 units during the same period. 

Bajaj Auto Sales Decline Bajaj Auto ’s depressing run of monthly sales continued in January with total sales declining 9 percent year-on-year to 2.88 lakh units. Volume sales in its core motorcycle business declined 12 percent to 2.47 lakh units. Motorcycle sales had fallen 6 percent year-on-year in December too. Bajaj Auto has ceded market share in motorcycles to rivals over the last many months, and efforts to reverse the trend through product upgrades has yielded little result so far. The company’s Managing Director Rajiv Bajaj said sales were impacted by the hike in excise duty, and also that the domestic market for motorcycle remained sluggish. The company’s exports in January grew a modest 4 percent to 1.43 lakh units, indicating pressure in the exports market. The only consolation in January numbers was a 14 percent increase in three-wheeler sales to 41,791 units. But given that three-wheeler sales accounts for barely 15 percent of total sales, this growth does not change the big picture for Bajaj Auto. 

TVS Motor Misses Estimates TVS Motor Company's total sales grew 1.2 percent to 1.88 lakh units in January from 1.86 lakh units sold in the year-ago month. Numbers were lower than Nomura's expectations of sales of 2.06 lakh units. Two-wheeler sales (the major contributor to total sales) stood at 1.81 lakh units, a growth of 1.1 percent compared to 1.71 lakh units in same month last year. TVS sold 7,082 units of three-wheelers in January, up 5 percent compared to 6,737 units sold in the year-ago month. However, exports declined 13.3 percent year-on-year to 25,029 units in the month gone by. 

Royal Enfield Rocks Again Total commercial vehicle sales of the VE Commercial Vehicles (a 50:50 joint venture between the Volvo Group and Eicher Motors) grew 25.1 percent year-on-year to 3,262 units, led by domestic sales. Domestic commercial vehicle sales rose 25.1 percent on yearly basis to 2,905 units 

Eicher Motors sold 28,927 units of Royal Enfield in January, up 43 percent compared to 20,232 units in the same month last year. Exports grew 82 percent to 770 units from 424 units during the same period. 

Escorts Sales Fall Escorts's total tractor sales declined 29 percent to 3,369 units in January against 4,742 units sold in the year-ago month. Domestic sales fell 31.4 percent year-on-year to 3,223 units during the same period. 

Maruti Suzuki stock price On February 02, 2015, at 15:30 hrs Maruti Suzuki India was quoting at Rs 3672.00, up Rs 26.75, or 0.73 percent. The 52-week high of the share was Rs 3758.00 and the 52-week low was Rs 1551.00. The company's trailing 12-month (TTM) EPS was at Rs 106.83 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 34.37. The latest book value of the company is Rs 694.45 per share. At current value, the price-to-book value of the company is 5.29.