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Automobile sales in January were a mixed across segments - IndiaNotes.com
Automobile sales in January were a mixed across segments
SPA Securities | Published: 10 Feb, 2017  | Source : IndiaNotes.com

Automobile sales in January were a mixed across segments, including passenger cars, two-wheelers and commercial vehicles, as rural markets failed to pick-up post demonetization. In the passenger car market, while market leaders like Maruti Suzuki India Ltd (MSIL) and Hyundai Motor continue to grow in double digits, companies such as Mahindra & Mahindra (M&M) and Honda Cars India continue to report a fall in sales. MSIL sold around 1.34 lakh units in January (up 26% against 1.06 lakh units YoY), Hyundai Motor India sold 42,017 units (up 10% against 38,016 units YoY). With the success of its small car Tiago, Tata Motors also grew by 21% at 12,907 units (10,728 units YoY).In the two-wheeler segment, HMCL reported a decline of 13%YoY, which sold 4.87 lakh units (5.63 lakh units YoY). Bajaj Auto also reported fall of 15% in its motorcycle sales to around 1.20 lakh units in January (1.41 lakh units YoY).However, another major player Honda Motorcycle & Scooter India (HMSI) managed to report 2%volume growth at 3.68 lakh units (3.62 lakh units YoY).Similarly, TVS Motor managed to sell a similar number of two-wheelers in January on YoY basis. In the commercial vehicles segment, both Tata Motors and M&M reported negative sales growth in January YoY.

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About SPA Securities

SPA Securities was promoted by a team of finance professionals in 1995 with an objective to provide value added financial services. Initially, the Group focused as a niche financial solutions provider in corporate finance and wealth management to Indian companies and high net worth individuals. In January 2000, the Group expanded its operations and the range of services. Today, SPA provides services for securities broking, merchant banking, wealth management, financial advisory, corporate finance , risk management and insurance broking.

 

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