Auto Sales In July 2023: Hero MotoCorp's Sales Fall 12%, Sharply Below Estimates

Hero MotoCorp Ltd.'s dispatches to dealerships fell 12% to 3.91 lakh units in July, missing analysts' consensus estimates that project nearly 5% sales growth in the month.

Sales Snapshots (YoY):

Motorcycle sales fell 14% to 3.60 lakh units.

Scooter sales rose 26% to 30,718 units.

Domestic sales fell 14% to 3.71 lakh units.

Exports rose 35% to 20,106 units.

TVS Motor Co Ltd.'s two-wheeler sales in the domestic market grew 17% to 2.35 lakh units helping the overall tally to register a growth.

The strong domestic show limited the impact of an over 21% decline in motorcycle exports to 77,077 units.

Within two-wheelers, motorcycle sales grew 2%, while scooters recorded a growth of 5%.

Sales Highlights (YoY):

Total sales rose 4% to 3.26 lakh units.

Two-wheeler sales rose 4% to 3.12 lakh units.

Three-wheeler sales fell 8.8% to 13,670 units.

Exports fell 20% to 89,213 units.

The sales of the company's iQube electric scooter more than doubled to 13,306 units in the month.

Eicher Motors Ltd.'s total motorcycle sales rose 32% to 73,117 units in July aided by new launches like Hunter 350.

Sales Snapshots (YoY):

Sales of models with engine capacity up to 350cc rose 39% to 64,398 units.

Sales of models with engine capacity exceeding 350cc fell 5% to 8,719 units.

Exports fell 22% to 7,055 units.

Ashok Leyland Ltd.'s dispatches to dealerships rose 11% to 15,068 units in July as demand remained strong for the heavy duty vehicles.

Sales Highlights (YoY)

Domestic sales rose 12% to 14,207 units.

Medium and heavy duty commercial vehicle sales rose 22% to 8,974 units.

Light commercial vehicle sales fell 3% to 5,233 units.

Maruti Suzuki India Ltd.'s total sales rose 3% to 1.82 lakh units in July helped by the more than two-fold jump in utility vehicle sales.

However, sales in the mini and compact category declined 27% to 76,692 units.

Sales Snapshots (YoY):

Total domestic sales rose 2.5% to 1.59 lakh units.

Exports rose 9.2% to 22,199 units.

Utility vehicle sales rose 166% to 62,049 units.