Vehicle sales rise 27% in April to 22 L units: FADA

HERO MOTOCORP NET RISES 16.3%

TVS Motor Company on Wednesday said its consolidated net profit increased 15 per cent to `387 crore for the fourth quarter ended March 2024, riding on robust sales. The company had reported a net profit of `336 crore in the January-march period of the previous fiscal. Revenue from operations rose to `10,042 crore in the period under review compared with `8,031 crore in the fourth quarter of FY23.

The automobile retail sales surged 27 per cent in April, the first month of this fiscal, to over 22 lakh units compared to the year before, the federation of automobile dealers associations (FADA) said on Wednesday. As many as 17.4 lakh units were sold in April 2023.

Positive market sentiments, bolstered by stable fuel prices, a favourable monsoon outlook, festive demand and the marriage season, contributed to this sales rise, FADA said.

New model launches also helped drive growth, despite some delays in supply, it noted.

Sales of two-wheeler, three-wheeler, passenger vehicle, tractor and commercial vehicle grew by 33 per cent, 9 per cent, 16 per cent, 1 per cent, and 2 per cent respectively.

Auto dealers sold 3.35 lakh passenger vehicles in April to mark a record as against 2.89 lakh units sold last year.

As many as 90,707 commercial vehicles were sold in April compared to 88,663 units the same time last year. The segment grew 2 per cent Y-O-Y growth and decline 0.6 per cent month-on-month.

Three-wheeler sales touched 80,105 units, compared to 73,310 in April 2023. As many as 56,625 tractors were sold, compared to 55,857 units in April 2023.

“The passenger vehicle category experienced double-digit year-on-year

Hero Motocorp on Wednesday reported a 16.3 per cent rise in consolidated profit after tax to `943.46 crore in the fourth quarter ended on March 31, riding on higher sales. The company had posted a consolidated profit after tax of `810.8 crore in same period a year ago, it said.

THE PASSENGER vehicle category experienced double-digit year-on-year growth, supported by enhanced model availability and favourable market sentiments, particularly around festive events.

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growth, supported by enhanced model availability and favourable market sentiments, particularly around festive events like navratri and gudi padwa, said FADA president Manish Raj Singhania.

He said despite strong bookings and customer flow, high competition, excess supply and discounting presented challen-ges for sustained growth. The lack of new models in some portfolios also impacted market traction, Singhania noted.

The two-wheeler segment grew due to improved supply and demand for 125cc models. As many as 16.4 lakh twowheelers were sold in April compared to 12.3 lakh units in the same month last year.

Improved supply and planning in 2W segment have improved customer bookings and market sentiment, driven by positive crop yields, said FADA about its May outlook.