auto monthly update

8/4/2019 Auto Monthly Update

1/17

AutomobileIndustryMonthlyUpdate 6th

June,2011AutosalescontinueditsdowntrendforcingSIAMtoloweritssalesforecastforFY12fromitsearlierprojectionof16-18%growthto14-16%.Despite

hugediscounts,most carmakers barelymanagedsingledigit growth inMay2011comparedto the resounding 29.1%growthoflastyear.Rising

commodityprices,fuelpriceescalationandhighinterestratesforcedconsumerstostayaway.Howeverthetwowheelersalescontinueditsupward

trendwithmostofmanufacturersregisteringamodestdoubledigitgrowthinMay2011.

IncontinuationofthetrendobservedinthepreviousmonthofApril2011,mostoftheautomakersregisteredasequentialdeclineacrossallsegments.

MarketleaderMarutiSuzukiIndiaLtdcontinueditsdismalperformance,postingameager1.9%yoygrowthintotalsaleswhichwasdrivenbyabare

3.9%yoygrowthinthedomesticsales.Thebestperformerforthemonth,automajorMahindra&Mahindracontinueditsgrowthmomentumandgrew

handsomelyat16.3%yoywiththeautomotivesegmentregisteringa20.5%yoygrowth.TheM&Mtractorsegmentgrewby9.5%yoy.Inthetwo

wheelerspace,BajajAutooutperformedpeersbyregisteringa19.4%yoygrowth.HeroHondaandTVSMotorstooregisteredmodestdoubledigit

growthof14.8%and18.4%respectivelydrivenmajorlybygrowthacrossallsegments.

OutlookPositive

Negativeheadwinds interms ofinterest rate hike,fuelcostand rising commodity costscontinued toplayspoil sportforcingthe auto

makerstoregisterweakgrowthinthemonthofMay.Withinflationarypressureslikelytopersistforanother6months,weexpecttheauto

makers to register weak numbers for FY12. The growth involumes would be drivenmostly by new product launches and rising rural

demand. Though, good monsoon could boost rural demand and act positively for commercial vehicle manufactures like Mahindra &

MahindraandTataMotors.


2/17

Totalmotorvehiclesandcarsales(Quarterly)

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Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11

TotalMotorVehiclesSales TotalCarSales


3/17

Totalmotorvehiclesandcarsalesgrowth(YOY)

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Totalmotorvehiclessalesgrowth YOY TotalcarsalesgrowthYOY


4/17

Totaltwowheeler&motorcyclesales(Quarterly)

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TotalTwoWheeler Sales TotalMotorCycles Sales


5/17

Totaltwowheeler&motorcyclessalesgrowth(YOY)

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Totalmotorcycles salesgrowthYOY Totaltwowheeler salesgrowthYOY


6/17

MarutiSuzukiIndiaLtd

MarutiSuzukidisappointedthestreetbypostingameager1.9%yoygrowthandsold1,04,073carsinMay2011ascomparedto1,02,175inMay2010.ThemonthofMayisgenerallyconsideredasagoodmonthforpassengercarsalesonaccountofweddingseasonandpremonsoonsales.Thecarmakersold92,419carsin thedomesticmarketwithunsatisfactory performanceacrossmostof thesegmentsespeciallyA2. TheA2segmentregistereda2.6%declineandsold61,048unitsinMay2011.Thecompanysold2,262unitsofMaruti800inthemonthofMay2011.TheA3segment(SX4andDzire)registeredadoubledigitgrowthandsold13,514unitsasagainst10,883unitsinMay2010.TheCsegmentconsistingofOmni,VersaandEecogrewbyagood20%(onalowerbase)to15,545units.Thecompanysold50unitsofthenewlylaunchedKizashi.Exportsremainedmutedfor the companyand declinedby13.0%yoy basis.Maruti Suzukiismulling toset upits fourth plantin Gujaratwith acapacity of10 lakh unitsexpandableupto20lakhunits.Goingforward,weexpectthevolumestoimproveandthewaitingperiodofMarutivehiclestoreduceto2-3weeksonbackofcapacityexpansion.

Maruti Suzuki India Ltd May-11 May-10 YOY % Apr-11 MOM % YTD FY12 YTD FY11 YOY %

A1 - M800 2,262 2,558 -11.6 2,528 -10.5 4,790 4,816 -0.5

Kizashi 50 - - 35 42.9 85 - 0.0

C - Omni, Versa, Eeco 15,545 12,953 20.0 13,022 19.4 28,567 23,607 21.0A2 - Alto, Wagon R, Estilio, Swift, A-Star,Ritz 61,048 62,679 -2.6 57,443 6.3 1,18,491 1,19,095 -0.5

A3 - SX4, Desire 13,514 10,883 24.2 13,899 -2.8 27,413 20,877 31.3

Total Passenger Cars 92,419 89,073 3.8 86,927 6.3 1,79,346 1,68,395 6.5

MUV - Gypsy, Grand Vitara 1,100 968 13.6 217 406.9 1,317 1,680 -21.6

Domestic sales 93,519 90,041 3.9 87,144 7.3 1,80,663 1,70,075 6.2

Exports sales 10,554 12,134 -13.0 10,011 5.4 20,565 25,158 -18.3

Total sales 1,04,073 1,02,175 1.9 97,155 7.1 2,01,228 1,95,233 3.1


7/17

TotalVehicleSalesanditsgrowthin%YOY

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Totalvehiclesales V ehiclesales growth Y OY

DomesticA2Salesanditsgrowthin%YOY

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Othervehiclessalesanditsgrowthin%YOY

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Othervehicles sales Othersales growth YOY


8/17


9/17

TotalSalesexcluding2wheelers&tractorsanditsgrowthin%YOY

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Totalsalesexcluding2wheelersandtractors

Totaltractorsalesanditsgrowthin%inYOY

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TractorSalesbyMahindra&MahindraLtd. TractorGrowthinYOY


10/17


11/17

TotalVehiclessalesanditsgrowthin%YOY

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Dec-08 Apr-09 Aug-09 Dec-09 Apr-10 Aug-10 Dec-10 Apr-11Totalvehiclesales Vehiclesalesgrowth YOY

UV+Carsalesanditsgrowthin%YOY

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UV +Cars UV +Cars sal es g rowth Y OY

H,M&LCVsalesanditsgrowthin%YOY

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Dec-08 Apr-09 Aug-09 Dec-09 Apr-10 Aug-10 Dec-10 Apr-11H,M &LCV H, M&L CV sales growth YOY


12/17

AshokLeylandLtdDeclineinthesalesofgoodscarriersegmentledto12%declineinthecommercialvehiclesalesofAshokLeylandwhichsold5,725unitsinMay2011asagainst6502unitsinMay2010.Inthepassengersegment,domesticsalesincreasedby17.6%to1,427unitscomparedto1,213unitssoldinMay10whileexportincreasedby33.2%to297unitsfrom223unitsinMay10.Inthegoodssegment,thedomesticsalesregistereddoubledigitdeclineof22.7%whiletheexportsalesgrewby19.6%.Despitenewproductlaunches,increasingcostofownershipsseemstohaveweighedhighonAshokLeylandsdomesticLCVsaleswhichdeclined53.0%to39unitsfrom83unitssoldinthepreviouscorrespondingmonth.LCVexportstoodeclinedby60%to10unitsasagainst25unitssoldinMay10.AshokLeylandhaslinedupRs1,200crorecapexforFY12forcapacityexpansion.Thecompanyisalsogearingupfortwobiglaunchesthisyear-itslightcommercialvehiclecodenamedDostfromitsjointventurewithNissanandtheexpansionofitsU-truckrange.Ashok Leyland May-11 May-10 YOY % Apr-11 MOM % YTD FY12 YTD FY11 YOY %

MDV Passenger 1,427 1,213 17.6 1,105 29.1 2,532 2,389 6.0

MDV Goods 3,616 4,677 -22.7 3,701 -2.3 7,317 9,451 -22.6

LCV 39 83 -53.0 26 50.0 65 123 -47.2

Domestic Sales (A) 5,082 5,973 -14.9 4,832 5.2 9,914 11,963 -17.1

MDV Passenger 297 223 33.2 255 16.5 552 495 11.5

MDV Goods 336 281 19.6 404 -16.8 740 508 45.7

LCV 10 25 -60.0 52 -80.8 62 36 72.2

Export Sales (B) 643 529 21.6 711 -9.6 1,354 1,039 30.3

Total Sales (A+B) 5,725 6,502 -12.0 5,543 3.3 11,268 13,002 -13.3


13/17

Totalvehiclessalesanditsgrowthin%YOY

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Passengervehiclesalesanditsgrowthin%YOY

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Passengervehiclesales PassengersalesgrowthYOY

Goodsvehiclesalesanditsgrowthin%YOY

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Goodsvehiclesales GoodssalesgrowthYOY


14/17

HeroHondaMotorsLtdHeroHondaregisteredarobust14.8%yoygrowthandrecordedmonthlysalesof5,00,234unitsinMay2011asagainst4,35,933unitsinMay2010.Advertisingspendsduringthecricketseasonalsohelpedbolstersales.ItsscootermodelPleasureisclockingaveragemonthlyrun-rateof35,000permonthandtargetsmonthlyrunrateof50,000unitsonthebackofnewproductlaunches.PostseparationfromHonda,thecompanyisintheprocessofre-initiatingarebrandingexercise.HeroHondahascompleteditsdebottleneckingexerciseatitsexistingplantsanditscurrentcapacitystandsat6millionunits.Thecompanyisclosetofinalizinglocationofitsfourthplantwhichwhencompletedisexpectedtotakethecapacityto9millionunits.Hero Honda May-11 May-10 YOY % Apr-11 MOM % YTD FY12 YTD FY11 YOY %

Total Sales - Motorcycles 5,00,234 4,35,933 14.8 517,099 -3.3 1,017,333 8,07,585 26.0

Salesanditsgrowthratesin%YOY

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S alesinUnits GrowthRates Y OY


15/17

BajajAutoLtdBajajAuto,thecountryssecond-largestmotorcyclemanufacturer,reporteda19.8%riseintotalsales.However,thesalesdeclinedby2.3%onmombasis.Inthetwowheelersegment,thecompanysold3,17,989unitsregisteringavolumegrowthof18.0%withDiscoveraccountingfor1,39,000units.ThecompanyplanstorelaunchBoxerintheruralmarketandalsoplanstocomeupwithanewvariantofPulsarduringthefestiveseason.Thethree-wheelersalesvolumeroseby 36.4%yoyto 40,860units.Theexportsregisteredrobustgrowthof32.2% yoyto 1,26,818units. Increaseindealershipsandnewproductlauncheswouldaidthecompanyinenhancingitsruralsales.Bajaj Auto May-11 May-10 YOY % Apr-11 MOM % YTD FY12 YTD FY11 YOY %

Motorcycles 3,17,989 2,69,488 18.0 3,22,235 -1.3 6,40,224 5,45,583 17.3

Scooters - - - - 27 -100.0

Total 2 wheelers 3,17,989 2,69,488 18.0 3,22,235 -1.3 6,40,224 5,45,610 17.3

3 wheeler 40,860 29,954 36.4 45,074 -9.3 85,934 67,304 27.7

Total sales 3,58,849 2,99,442 19.8 3,67,309 -2.3 7,26,158 6,12,914 18.5

Domestic 2,32,031 2,03,478 14.0 2,08,887 11.1 4,40,918 4,03,039 9.4

Exports 1,26,818 95,964 32.2 1,58,422 -19.9 2,85,240 2,09,875 35.9

Twowheelerssalesanditsgrowthin%YOY

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Twowheelers salesinunits GrowthRatesYOY


16/17

TVSMotorCompanyLtdDrivenbystrongvolumegrowthacrossallsegments,TVSMotorCompanylogged18.4%growthintotalsalesat1,85,930units,comparedto1,56,980unitsinthepreviouscorrespondingyear.Domestictwowheelersalesofthecompanyincreasedby16.3%yoywithsalesof1,58,829unitsinMay2011against1,36,621unitsreportedinMay2010.Thescootersegmentcontinueditsstrongmomentum&reportedagood19.7%yoygrowthandoutperformedmotorcycles saleswhichinsteadgrewby11.4%.The companysold 68,104 unitsofmopedswhichgrewby 24.1%yoy.The threewheelersegmentgainedtractionandgrewby74.6%toRs4,039unitsinMay2011.Exportsgrewbyarobust27.8%yoygrowthto23,062units.TVS Motors May-11 May-10 YOY % Apr-11 MOM % YTD FY12 YTD FY11 YOY %

Motorcycles 75,619 67,906 11.4 69,573 8.7 1,45,192 1,33,906 8.4

Scooters 38,168 31,884 19.7 35,074 8.8 73,242 58,744 24.7

Mopeds - Scotteretes (bf) 68,104 54,877 24.1 59,536 14.4 1,27,640 1,06,706 19.6

Total 2 Wheelers 1,81,891 1,54,667 17.6 1,64,183 10.8 3,46,074 2,99,356 15.6

3 Wheelers 4,039 2,313 74.6 3,561 13.4 7,600 4,796 58.5

Total sales 1,85,930 1,56,980 18.4 1,67,744 10.8 3,53,674 3,04,152 16.3

2 wheelers - Domestic 1,58,829 1,36,621 16.3 1,41,619 12.2 3,00,448 2,62,092 14.6

2 wheelers - Exports 23,062 18,046 27.8 22,564 2.2 45,626 37,264 22.4

Twowheelerssalesanditsgrowthin%YOY

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Twowheeler sales inunits GrowthRates Y OY


17/17

VenturaSecuritiesLimitedCorporateOffice:CorporateOffice:C-112/116,BldgNo.1,KailashIndustrialComplex,ParkSite,Vikhroli(W),Mumbai400079Thisreportisneitheranoffernorasolicitationtopurchaseorsellsecurities.Theinformationandviewsexpressedhereinarebelievedtobereliable,butnoresponsibility(orliability)isacceptedforerrorsoffactoropinion.Writersandcontributorsmaybetradinginorhavepositionsinthesecuritiesmentionedintheirarticles.NeitherVenturaSecuritiesLimitednoranyofthecontributorsacceptsanyliabilityarisingoutoftheaboveinformation/articles.Reproductioninwholeorinpartwithoutwrittenpermissionisprohibited.Thisreportisforprivatecirculation.

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