PV segment reports healthy volumes in January 2022

News: For January 2022, market leader Maruti Suzuki (MSIL) reported flattish MoM sales with dispatches at 1.5 lakh units. Tata Motors reported much better reading with volumes up 15.5% MoM at 40,942 units. M&M's volume growth was at 12.7% MoM at 19,964 units.

Views: Volume prints for the month came in healthy amid improved supply side issues. Product mix deteriorated at MSIL with UV sales witnessing a decline of 1.3% MoM while the mini & compact segment registering a growth of 5.2% on MoM basis. EV segment at Tata Motors continued to do well and reported 28% MoM jump in sales volume to 2,892 units, M&M volumes print for the month came in healthy tracking robust order book of its key new launches in the UV category

Impact: Positive