Auto companies on Thursday reported their May sales numbers. According to industry estimates, the domestic PV sales volumes marked a YoY growth of 13.5% at 3.35 lakh units in May as against 2.95 lakh units in the year-ago preiod. It is the highest May sales since 2018-19
Maruti Suzuki India sold a total of 178,083 units in May. Total sales in the month include domestic sales of 146,596 units, sales to other OEMs of 5,010 units, and exports of 26,477 units
Tata Motors passenger cars and commercial vehicles sales stood at 74,973 units. The company sold 45,878 units of passenger vehicles including EVs posting a growth of 6% over May 22 sales in the domestic market. Sales of commercial vehicles fell 12% to 28,989 units. Heavy commercial vehicle sales grew 11% to 8,160 units
Mahindra & Mahindra announced that its overall auto sales for the month of May 2023 stood at 61,415 vehicles. The company sold 32,883 SUVs with a 23% growth
Ashok Leyland Ltd's dispatches to dealerships fell 1% to 13,134 units in May due to lower sales in the light commercial vehicle segment. Sales of medium and heavy-duty vehicles rose 4% to 8,270 units. Light commercial vehicle sales fell 9% to 4,864 units
Brokerage firm Motilal Oswal prefers CVs over other segments, considering strong demand and a stable competitive environment. It prefers companies with higher visibility in terms of demand recovery; a strong competitive positioning; encouraging margin drivers, and a strong balance sheet
Analysts at Motilal Oswal have picked Tata Motors and Ashok Leyland as their preferred OEM stocks. Among auto component stocks, they prefer Samvardhana Motherson International Motherson Sumi, and Bharat Forge stocks
Within two-wheeler stocks, Nomura India prefers Bajaj Auto stock, and within the four-wheeler segment, it likes Mahindra and Mahindra (M&M), Tata Motors, and Ashok Leyland due to their ability to gain market share
Prabhudas Lilladher has 'Buy' ratings on Maruti Suzuki, Tata Motor Co, TVS Motor, Hero MotoCorp, M&M, Eicher Motors, and Ashok Leyland stocks
LKP Securities is positive on the auto sector. Within the 2-wheeler category, it likes Bajaj Auto and TVS Motor Company. On the PV side, it likes M&M, Maruti Suzuki. The brokerage likes Ashok Leyland within the CV segment. "Every dip in the stocks mentioned above, shall provide good opportunities for investors to enter into them from medium to long term perspective," it said
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