February turned out to be a good month for the M&HCV and LCV segments of the auto industry, but passenger vehicles did not ignite the fireworks. Maruti's total sales remained flat on a year on year basis as it suffered production losses after Jat agitation, while Mahindra & Mahindra (M&M) registered double digit growth. In the two-wheelers segment, Hero MotoCorp registered 13.5% growth in sales.
Maruti's passenger car sales declined by 3.9% to 87,149 units as against 90,728 units in the Jan'15. Utility vehicles (Gypsy, Ertiga, S-Cross) registered a surge in sales volume of nearly 44% yoy, with sales clocking 8,484 units. Super compact Dzire Tour had impressive numbers with sales up by 38% yoy.
Mahindra & Mahindra's PV segment sold 23,718 units and grew by 25% yoy in Feb 2016. Tata Motors did not have a good run in February, with PV sales declining by 20%. Cumulative sales of vehicles in this category remained flat.
Medium and Heavy Commercial Vehicles (M&HCV)
Perhaps the sole bright spot in the auto segment right now, M&HCV sales of Tata Motors rose by 22% in Feb 2016. Hinduja group's flagship company, Ashok Leyland saw 31% yoy growth clocking 10,798 units. M&M's segment sold 479 units registering a growth of 47%. Eicher branded trucks and buses have recorded total sales of 4936 units in February 2016 as compared to 3100 units in February 2015, representing a growth of 59.2%.
Light & Small Commercial Vehicle
Tata Motors' LCV segment saw sales of 15,698 nos., higher by 10% yoy. This is the third consecutive month of growth in LCVs after many months, and if sustained, could see return of growth in this segment, albeit on a low base. Ashok Leyland saw a marginal growth of 3% in this segment.
Hero MotoCorp total sales for the month of February 2016 grew 13.6% At 5.5 Lakh Units (YoY). These numbers have been possible in spite of the production at Hero’s manufacturing facilities at Gurgaon and Dharuhera in Haryana and at Neemrana in Rajasthan being impacted for a few days due to the local agitations in the region during the month.
Eicher Motors continued its solid run with total sales rising by 63%. TVS Motor Company has recorded 7% growth in sales during the month of February 2016. India Yamaha Motor Pvt. Ltd. revealed a growth rate of 50% in domestic sales.
Atul Auto announced the sales figures for the month of February 2016. The company sold 3,510 units with a growth of 3.17% YoY as against 3,402 units in last year corresponding period.