Automobile monthly volume update - June 2012
India Infoline News Service | Mumbai |
Automobile monthly volume update
M&M – June 2012 Volume update
Source: Company, India Infoline Research
Maruti Suzuki – June 2012 Volume update
- While M&M has not declared its tractor segment volumes, its auto segment volumes continued to show a robust trend.
- Total automotive segment volumes were higher by 21.3% yoy with strong gains across most categories except 3-wheeler (de-growth of 6.1% yoy). Passenger UVs and Verito registered 35.1% yoy growth while LCV segment grew by 20.8% yoy.
- The total domestic volumes were higher by 20.7% yoy and export volumes were higher by 30.8% yoy.
- On sequential basis, the total auto volumes dipped by 5.9%, led by 6% fall in passenger UVs + Verito segment and a sharp decline of 41.5% in exports.
- For Q1 FY13, total volumes were higher by 23.6% yoy at 126,029 vehicles.
| Jun-12 | Jun-11 | yoy (%) | May-12 | mom (%) | YTD FY13 | YTD FY12 | yoy (%) | |
| Passenger Uvs + Verito | 21,012 | 15,553 | 35.1 | 22,364 | (6.0) | 60,003 | 44,407 | 35.1 |
| 4W pick ups | 13,103 | 11,560 | 13.3 | 13,254 | (1.1) | 39,411 | 31,056 | 26.9 |
| 3W | 4,836 | 5,149 | (6.1) | 4,320 | 11.9 | 13,815 | 14,058 | (1.7) |
| Total M&M Auto | 38,951 | 32,262 | 20.7 | 39,938 | (2.5) | 113,229 | 89,521 | 26.5 |
| LCV | 1,220 | 1,010 | 20.8 | 1,210 | 0.8 | 3,458 | 2,952 | 17.1 |
| Total Auto (domestic) | 40,171 | 33,272 | 20.7 | 41,148 | (2.4) | 116,687 | 92,473 | 26.2 |
| Exports | 2,371 | 1,812 | 30.8 | 4,050 | (41.5) | 7,841 | 5,717 | 37.2 |
| Total Auto | 42,542 | 35,084 | 21.3 | 45,198 | (5.9) | 124,528 | 98,190 | 26.8 |
Maruti Suzuki – June 2012 Volume update
- Maruti Suzuki June 2012 volumes were slightly ahead of our estimates. Total volumes jumped 20.3% yoy owing to low base effect which was due to the labour strike at Manesar plant in June 2011 for 13 days.
- Total domestic volumes were higher by 19.3% yoy. Yoy growth was driven by sharp jump in Swift and Dzire volumes as the production of these models were the most impacted during the strike. Also the new variants of both these models have been well accepted in the markets. Successful launch of Ertiga also helped the company gain traction in volumes with total UV sales at 5,638 units vis-Ã -vis 185 in June 2011. However, performance of vans segment was disappointing with a 43.2% yoy fall. Mini segment volumes were lower by 10.4% yoy.
- On a sequential basis, Mini segment saw a jump of 14.4% on the back of increasing discounts the company has been offering recently. However, compact and super compact segment saw declines of 6.9% and 22.4% respectively as the weak consumer sentiment caught up with the demand for Swift and Dzire models. Total sales were down 2.3% on mom basis.
- Export sales were at 13,066 (an increase of 27.1% yoy and 39% mom), which was ahead of our expectations.
| Jun-12 | Jun-11 | yoy (%) | May-12 | mom (%) | YTD FY13 | YTD FY12 | yoy (%) | |
| A: Mini | 34,198 | 38,183 | (10.4) | 29,895 | 14.4 | 94,813 | 122,052 | (22.3) |
| A: Compact | 22,624 | 16,239 | 39.3 | 24,290 | (6.9) | 72,986 | 55,651 | 31.1 |
| A: Super Compact | 13,741 | 2,486 | 452.7 | 17,707 | (22.4) | 46,958 | 25,095 | 87.1 |
| A: Midsize | 408 | 713 | (42.8) | 405 | 0.7 | 1,447 | 5,517 | (73.8) |
| A: Executive | 6 | 32 | (81.3) | 12 | (50.0) | 21 | 117 | (82.1) |
| Total Pass cars | 70,977 | 57,653 | 23.1 | 72,309 | (1.8) | 216,225 | 208,432 | 3.7 |
| Uvs | 5,638 | 185 | 2,947.6 | 7,734 | (27.1) | 18,965 | 1,502 | - |
| Vans | 6,916 | 12,182 | (43.2) | 9,435 | (26.7) | 28,074 | 40,749 | (31.1) |
| Total Domestic | 83,531 | 70,020 | 19.3 | 89,478 | (6.6) | 263,264 | 250,683 | 5.0 |
| Exports | 13,066 | 10,278 | 27.1 | 9,406 | 38.9 | 32,632 | 30,843 | 5.8 |
| Total volumes | 96,597 | 80,298 | 20.3 | 98,884 | (2.3) | 295,896 |
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