PV SEGMENT REPORTED STEADY VOLUME PRINTS FOR NOVEMBER 2023
News: Maruti Suzuki (MSIL) sales volume for the month were up 3.5% YoY at 1.6 lakh units. Tata Motors volumes were down 0.6% YoY at 46,143 units, while volumes at M&M were up healthy 31.6% YoY at 39,981 units.
Views: Volumes at all OEM’s declined on MoM basis as focus now shifts on retails amidst post festive inventory correction as well as approaching calendar year end. At MSIL exports volume prints were better and were up 5% MoM at 23k units. In a separate development at MSIL, as per media sources, the company has reduced prices for its Jimny model by ₹ 2 lakh/unit. At Tata Motors, EV volumes were further down 13% MoM at 4,761 units (on a continuous decline since June 2023; YTD 48k units). UV volumes at M&M came in healthy with company expected to outperform peers amidst rise in production and healthy order book.
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