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| India Infoline Research Team / 15:30 , Feb 02, 2012 |
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- M&M reported strong volume growth in the automotive segment in January 2012. Total volume growth was at 23.1% yoy led by robust volume growth across all categories, except 3Ws.
- Passenger UVs and 4W pick ups registered 14.7% and 34.7% yoy growth. LCVs and Exports also saw continued momentum with 50.8% yoy and 95.5% yoy growth.
- Tractors segment performance was below expectations as domestic volumes were lower by 7.6% yoy. This was partially offset by a 31% jump in export volumes.
M&M January 2012 volume
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Jan-12 |
Jan-11 |
yoy (%) |
Dec-11 |
mom (%) |
YTD FY12 |
YTD FY11 |
yoy (%) |
| Passenger Uvs |
18,446 |
16,088 |
14.7 |
18,078 |
2.0 |
162,078 |
138,614 |
16.9 |
| 4W pick ups |
13,725 |
10,193 |
34.7 |
13,757 |
(0.2) |
124,455 |
84,165 |
47.9 |
| 3W |
6,126 |
6,177 |
(0.8) |
5,744 |
6.7 |
57,240 |
50,648 |
13.0 |
| Total M&M Auto |
38,297 |
32,458 |
18.0 |
37,579 |
1.9 |
343,773 |
273,427 |
25.7 |
| Verito (Logan) |
1,529 |
1,120 |
36.5 |
1,263 |
21.1 |
14,444 |
7,840 |
84.2 |
| LCV |
1,543 |
1,023 |
50.8 |
1,049 |
47.1 |
11,049 |
9,301 |
18.8 |
| Total Auto (domestic) |
41,369 |
34,601 |
19.6 |
39,891 |
3.7 |
369,266 |
290,568 |
27.1 |
| Exports |
3,349 |
1,713 |
95.5 |
2,870 |
16.7 |
23,892 |
15,597 |
53.2 |
| Total Auto (A) |
44,718 |
36,314 |
23.1 |
42,761 |
4.6 |
393,158 |
306,165 |
28.4 |
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| Tractors |
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| Domestic |
17,950 |
19,430 |
(7.6) |
15,315 |
17.2 |
191,469 |
164,921 |
16.1 |
| Exports |
1,404 |
1,069 |
31.3 |
1,074 |
30.7 |
11,185 |
9,842 |
13.6 |
| Total (B) |
19,354 |
20,499 |
(5.6) |
16,389 |
18.1 |
202,654 |
174,763 |
16.0 |
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| Total (A+B) |
64,072 |
56,813 |
12.8 |
59,150 |
8.3 |
595,812 |
480,928 |
23.9 | Source: Company, India Infoline Research
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