Monthly Auto Sales - April 2024 By ARETE Securities Ltd
![](https://portfolio.investmentguruindia.com/uploads/news/auto sector.jpg)
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
The Indian automotive sector in April 2024 has shown remarkable tenacity, with the 2W segment leading the charge. A YoY growth of 28% was headlined by Hero Motocorp's stellar 35% increase, buoyed by its expansion into Nepal through a new product assembly facility and a strategic plan to open at least 100 sales and service outlets in the coming months. Bajaj Auto and TVS Motors also made significant strides with 19% and 27% growth, respectively, contributing to a MoM rise of 9%. This surge in the 2W sector is indicative of an uptick in rural spending power, bolstered by robust exports and international dealership expansions. The PV segment experienced a modest YoY growth of 4%, with Maruti Suzuki eking out a 0.5% increase. The sector's performance is partially linked to reduced waiting periods and attractive discounts on new models. Mahindra & Mahindra stood out with an 18% gain, driven by the sustained demand for its SUV range, prompting a production ramp-up to approximately 600,000 units annually. The demand dynamics within the PV sector appear to be skewed towards SUVs, particularly those with a strong market reputation. Tata Motors witnessed a 2% YoY increment, although the segment saw a MoM decline of 7%, hinting at a short-term slowdown. The CV segment faced challenges, with a significant MoM drop of 22%. Despite this, Tata Motors showcased a robust YoY growth of 33%, outperforming peers like Ashok Leyland and M&M. Lastly, the tractor segment, represented by Escorts, saw a marginal YoY decrease of 1%, likely influenced by moderate Rabi crop yields. However, with forecasts predicting an above-average monsoon in FY25, a rebound in tractor sales is anticipated. The overall outlook for the Indian automotive sector remains positive, with rural market recovery and export strength playing pivotal roles in its growth trajectory.
Please refer disclaimer at http://www.aretesecurities.com/
SEBI Regn. No.: INM000012740
![](https://portfolio.investmentguruindia.com/uploads/news/kotak securities.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/geojit Financial Services.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/TechMahindra23.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/powersector25.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/fsdkfjeljweoir.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/nirmalasitharaman230717.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Real estate sector_9477.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/global29.jpg)
![](https://portfolio.investmentguruindia.com/uploads/news/Dollar 30.jpg)
Top News
![](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/07/b61adfc4728f02a1bb43c845270bbaf2.jpg)
Confidant of 100% sowing following good rainfall in Karnataka : Chief Minister Siddaramaiah
Tag News
![](https://portfolio.investmentguruindia.com/uploads/news/Ajit Mishra.jpg)
Daily Market Analysis : Markets remained volatile on the monthly expiry day and ended nearly...
![Market Quote : Global indices also reacted pessimistically due to the disappointing results from top US tech companies says Vinod Nair, Head of Research, Geojit Financial Services](https://portfolio.investmentguruindia.com/uploads/news/Broker_88.jpg)
![Mid-Market Comment by Mr Shrey Jain, Founder and CEO SAS Online - India`s Deep Discount Broker](https://portfolio.investmentguruindia.com/uploads/news/Shrey Jain.jpg)
![Nifty consolidated within the 5 DEMA & 20 DEMA range of 24495 to 24270 throughout the day - Tradebulls Securities Pvt Ltd](https://portfolio.investmentguruindia.com/uploads/news/Tradebulls Securities Ltd.jpg)
More News
![](https://portfolio.investmentguruindia.com/uploads/news/arete securities.jpg)
The Markets are expected to open marginally lower today as trend in GIFT nifty indicate a ne...
![Market Quote : The capex by the government and the pickup in manufacturing activity Says Mr. Vinod Nair, Geojit Financial Services](https://portfolio.investmentguruindia.com/uploads/news/Broker _14.jpg)
![Bank Nifty opened with an upward gap and traded with extreme volatility - Axis Securities Ltd](https://portfolio.investmentguruindia.com/uploads/news/Axis Securities.jpg)
![Benchmark index traded range bound on Friday before closing with 0.22% cut at 21731 level - Monarch Networth Capital](https://portfolio.investmentguruindia.com/uploads/news/Monarch networth.jpg)