March 12, 2002

Auto Sector Update – February 2002

The automobile sales figures released by SIAM for the month of February 2002 indicate a continued buoyancy in motorcycle and passenger car sales. However Utility vehicles sales dipped by a sharp 25% during the month. Commercial vehicles sales also registered a decline, with the degrowth being sharper in the Medium and Heavy vehicle segment.

Vehicle sales in February 2002

Two wheelers

Two wheeler sales grew by 27.6% yoy in February 2002 to 363206 vehicles. This growth has solely been driven by a robust 54.4% yoy growth in motorcycle sales. 265733 motorcycles were sold during the month. Cumulative motorcycle sales in FY02 to date has been 2.6mn units, accounting for 68% of all two wheelers sold in the country. Scooter sales registered a 8.1% yoy decline in February to 61444 units. Cumulative scooter sales during the April-February has been 789399 vehicles, 1.2% lower than that sold during the corresponding period in FY01. the decline in moped sales has been even sharper. Moped sales in February were down 21.3% to 36029 units. Cumulative moped sales in FY02 o date have been 428983units, 27.9% lower than the previous year.

Overall two wheeler sales have registered a 15.8% yoy growth to 3.82mn vehicles during the first 11 months of FY02.

Three Wheelers

Three wheeler sales also have registered a buoyant 33% yoy growth in February at16898 vehicles. Cumulative sales in the first 11 months of the year have risen to 180875 units, a 6.7% yoy increase over the previous year.

Passenger Cars

Passenger Car sales registered a 16.5% yoy increase to 54229 vehicles in February 2001. Cumulative car sales in the first 11 months of FY02 have almost reached previous year’s level aided by the revival in sales volumes witnessed during the last few months. April-February FY02 passenger care sales stood at 504271 vehicles (504841 vehicles in FY01).

All the big three players – Maruti, Hyundai and Telco – who together account for 85% of the market have recorded good volume growth in February. Maruti Udyog posted a 4.5% rise in its sales at 30,905 units, Hyundai Motor India sold 8,652 units registering an increase of 42% and sales of Telco increased by 78% to 6,524 units

Hindustan Motors was the only company to have registered a decline in sales. Its sales declined by 16.3% to 1,756 cars during the month. Fiat India recorded a five-fold increase in volumes aided by its fast moving Palio. Ford India, Honda Siel and Daimler Chrysler all recorded strong double-digit volume growth.

Multi-utility-vehicles

Multi-utility-vehicle (MUV) sales fell by 25.3 per cent at 9,518 units against 12,750 units in February 2001. Cumulative MUV sales in the first 11 months of FY02 has registered a 0.5% decline at 107199 vehicles.

Commercial vehicles

Commercial vehicle sales in February dipped by 7.9% at 12,372 units as compared to 13,674 units in the corresponding period last year. The fall has been much sharper in the Medium & Heavy Commercial vehicle segment, which registered a 12.9% fall from 8660 vehicles to 7543 vehicles. LCV sales declined by 3.5% from 5004 vehicles to 4829 vehicles. Cumulative commercial vehicle sales during April-February 2002 has been 113609 vehicles, a decline of 3.3% over the corresponding previous period

Courtesy : India Infoline

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