According to analysts, retail festive demand is healthy for two-wheelers followed by cars or passenger vehicles and tractors. Data on Vahan, as of October 29, pointed to growth in retail sales. However, the rise in sales is, in most cases, on a year-on-year basis whereas the monthly downtrend mood is likely to continue.
Among two-wheelers, Royal Enfield is expected to witness the highest jump of 20% year-on-year and 16% month-on-month at 1.01 lakh units. Hero Motocorp is expected to clock the highest volumes at 6.30 lakh units, which means sales shall go 9% YoY and decline a percent on a month-on-month basis, analysts have indicated.
Bajaj Auto’s sales in October 2024 are likely to jump 4% from the same month last year to 4.90 lakh units. TVS Motor is expected to register 11% growth in sales on a YoY basis with 4.83 lakh units, which means flat sales on MoM.
Contrary to the two-wheelers trend, India’s largest carmaker Maruti Suzuki is likely to have sold 3% fewer cars compared to October 2023, whereas the sales shall go up 4% on an MoM basis with 1.93 lakh units.
Tata Motors, too, is expected to clock 8% lower sales in October 2024 compared to last year, whereas it would imply a 7% MoM growth with 77,000 units.
M&M Auto shall witness 9% YoY sales growth but a flat MoM trend with 88,000 units sold in the month of October, according to analysts. Ashok Leyland sales’ are likely to go down 3% YoY and 5% MoM to 16,300 units in the month under review.
M&M Tractor sales are likely to rise 2% on a year-on-year basis in October 2024 to 50,500 units, whereas it would imply a 16% jump on a month-on-month basis.