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PV segment reports healthy double digit growth in volumes MoM for December 2021

News: For December 2021, market leader Maruti Suzuki (MSIL) reported 10.5% MoM growth in dispatches at 1.5 lakh units. Tata Motors reported much better reading with volumes up 18.4% MoM at 35,461 units. M&M, however, reported a volume decline of 8.9% at 17,722 units.

Views: Volume prints for the month came in healthy amid improved supply side issues. Product mix deteriorated at MSIL with UV sales witnessing growth of 9.8% MoM while the mini & compact segment registering a growth of 15% on MoM basis. EV segment at Tata Motors continued to do well and reported 29% MoM jump in sales volume to 2,255 units. M&M volumes print for the month came in below expectations amid robust order book of its key new launches in the UV category.

Impact: Positive