March auto sales have given a boost to the Auto Index to rose above 1.5 per cent during today’s session. Out of 13 scrips, 12 ended positive barring Balkrishna Industries. The heavyweights in the passenger and commercial vehicles (PV and CV) segment such as Maruti Suzuki, Mahindra and Mahindra and Tata Motors surged on the back of exemplary sales in March over the corresponding month in the previous year.
Tata Motors, which registered a growth of over 400 per cent in both PV and CV segments year-on-year basis, soared around 2 per cent, followed by Mahindra and Mahindra which extended gains by near 1.5 per cent on bourses during today’s trading session.
Mahindra posted an exponential growth of over 900 per cent CV (three-wheeler) while around 400 per cent in PVs in March 2021 as compared to March 2020.
Another auto heavyweight Maruti Suzuki failed to maintain the shine as compared to its peers and grew almost 1 per cent in the wake of good sales in March. The company, in March, reported around 100 per cent growth in terms of both PV and CV sales YoY basis.
In the two-wheeler segment, Hero MotoCorp become the showstopper as it posted over 70 per cent growth in terms of scooters and motorcycles sales in March 2020 as compared to the corresponding month of the previous year.
Similarly, Eicher Motors, which hails a premium brand of motorcycles Royal Enfield, posted a growth of 85 per cent in March over the corresponding month in the previous year.
Amid record sale, Hero advanced over 1.5 per cent during today’s session. on the other hand, Eicher posted almost a flat performance by posting 0.5 per cent in today’s trade.
(Authored by Vaibhav Bansode)
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