In January 2022, sales of auto companies were under pressure and sales of passenger vehicles, two-wheelers and tractors declined on an annual basis.
Auto stock: Happy with the budget, the last two days, today, Thursday, February 3, there was a break in the stock market. Indian stocks saw profit booking on Thursday. However, despite the weakness in the capital market, auto shares fell on Thursday.
At around 12:51 pm, the Nifty Auto index traded up 163.30 points, or 1.40 percent, while the Nifty-50 index fell 96.70 points, or 0.54, at the same time. The biggest jump in auto shares was seen in TVS Motors, up 5 percent. Shares of Hero MotoCorp, Bajaj Auto, Maruti Suzuki and Ashok Leyland also saw good jumps of 2 to 3 per cent.
If we talk about the sales figures of auto companies, then in January it was mixed. Tata Motors’ total sales grew 27 percent year-on-year and sold a total of 76,210 vehicles in January, including in the international market. On the other hand, Mahindra & Mahindra’s total sales in January rose 19.55 per cent to 46,804 units.
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On the other hand, the country’s largest carmaker Maruti Suzuki India’s wholesale sales fell 3.96 per cent to 1,54,379 units in January. The total sales of Maruti Suzuki in January 2021 were 1,60,752.
See which auto stocks have risen today (data as of 12:51 pm) –
Bajaj Auto’s overall sales also fell 15 percent to 3,63,443 units in January 2022. The company sold a total of 4,25,199 units in the same month last year. Total sales of TVS Motors in January fell 13.14 per cent to 2,66,788 units from 3,07,149 units in January last year.
According to a report by Kotak Securities, sales of auto companies were under pressure in January 2022. Sales in the passenger vehicle, two-wheeler and tractor segments declined year-on-year, while sales in the commercial vehicle segment continued to grow this month.
Kotak Securities says consumer sentiment in the passenger car segment remains strong and we expect it to improve once the chip shortage problem is resolved. However, there is pressure on demand in the two-wheeler and tractor segments.
