Maruti Suzuki stock FADA

  • Total Vehicle Retails for the month of May’21 fell by -54.79% MoM and -70.69% when compared to May’19. All categories on MoM saw bloodbath as 2W, 3W, PV, Tractor and CV fell by -53%, -76%, -59%, -57% and -66% respectively.
  • The first 9 days of June saw a better start than expected due to pent up demand. At this pace June’21 may result in almost equivalent sales when compared to June’20.
  • Overall demand recovery to be slow as rural markets continue to struggle with post covid effects.
  • FADA thanks all OEMs which have announced financial package for Auto Dealers and once again appeals to all those, who are yet to announce a similar financial package like last year.
  • FADA also requests the Prime Minister to instruct RBI to grant moratorium for Auto Dealers and release guidelines for relaxation of loan re-payment equivalent to number of days of lockdown each state has been declaring.

10th June’21, New Delhi: The Federation of Automobile Dealers Associations (FADA) today released Monthly Vehicle Retail Data for May’21.

Unlike other months, we can’t represent a YoY comparison since India was under complete lockdown in May 2020. Hence, all comparisons for this month have been done with April’21 (MoM) and 2 year back with May’19.

Commenting on how May’21 performed, FADA President, Mr. Vinkesh Gulati said, “The 2nd wave of covid has left the entire country devastated as there may not be a single household which did not get affected. Apart from urban markets, this time, even rural areas were badly hit. May saw continued lockdown in most of the states.

Not surprisingly, Auto Retail for the month witnessed bloodbath as sales fell by -55% on MoM basis. Similarly, all categories of vehicles fell by a huge degree with 2W falling by -53%, 3W by -76%, PV by     -59%, Tractors by -57% and CV by -66% respectively.

Auto Retail fraternity is in dire need of support. While a handful of OEMs (Tata Motors – CV, Renault, Bharat Benz and HMSI) have announced financial help to their channel partners, others are yet to do so. Hence, FADA humbly requests all those OEMs which have still not announced any financial assistance to kindly do it urgently.

FADA also appeals to the Hon’ble Prime Minister that instead of restructuring, banks should allow a moratorium of 90 days to all categories of dealers without keeping a turnover limit. This is required as Auto Retail Trade works on the principle where dealers get funded from Financial Institutes in terms of inventory funding for a period of 30-45 days (depending from bank to bank) to purchase vehicles from Auto OEMs.

Since the current lockdown has already lasted well over 30-45 days and is still continuing in South India, revenue for most of the Dealers are negligible as there was minimal sales. Due to this, dealers will not be able to repay their loan tranche payment which is getting due. This will ultimately lead towards default. Since there are no guidelines, extension of tranche is considered as restructuring of loan. This will ultimately have a negative impact on Dealers credit score as their CIBIL rating will get impacted.

Near Term Outlook

The 1st 9 days of June has seen better than expected retails due to pent up demand which was there in the system when states started implementing lockdown. If the trend continues, we may see almost similar sales when compared to June’20 last year.

The monsoons arrived in India almost on time. If Met predictions are to be believed, normal and evenly spread rains may bring an early respite for the rural economy thus pushing demand for vehicles faster than expected.

It may be prudent to say that India may not witness a V – shaped recovery unlike last time. FADA hence continues to remain guarded in its optimism on overall industry recovery for the fiscal FY21-22.

  • Inventory at the end of May’21
    • Average inventory for Passenger Vehicles ranges from 20-25 days
    • Average inventory for Two – Wheelers ranges from 25-30 days

Chart showing Vehicle Retail Data

All India Vehicle Retail Data for May’21

CATEGORYMAY’21MAY’19% Change w.r.t MAY’19APR’21MoM %
2W4,10,757 14,20,442-71.08%8,65,134-52.52%
3W5,215 51,428-89.86%21,636-75.90%
PV85,733 2,36,157-63.70%2,08,883-58.96%
TRAC16,616 39,417-57.85%38,285-56.60%
CV17,534 75,122-76.66%51,436-65.91%
LCV9,411 43,255-78.24%28,511-66.99%
MCV915 5,075-81.97%3,547-74.20%
HCV6,233 23,839-73.85%16,062-61.19%
Others975 2,953-66.98%3,316-70.60%
Total5,35,855 18,22,566-70.60%11,85,374-54.79%

Source: FADA Research

 Disclaimer:

  1. The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  2. Vehicle Retail Data has been collated as on 08.06.21 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,294 out of 1,497 RTOs.
  3. CV is subdivided in the following manner
    1. LCV – Light Commercial Vehicle (incl. Passenger & Goods Vehicle)
    2. MCV – Medium Commercial Vehicle (incl. Passenger & Goods Vehicle)
    3. HCV – Heavy Commercial Vehicle (incl. Passenger & Goods Vehicle)
    4. Others – Construction Equipment Vehicles and others

OEM wise Market Share Data for the Month of May’21 with MoM comparison

Two-Wheeler (2W)
Two-Wheeler OEMMAY’21Market Share (%), MAY’21APR’21Market Share (%), APR’21
HERO MOTOCORP LTD1,92,96846.98%2,99,57634.63%
HONDA MOTORCYCLE AND SCOOTER INDIA (P) LTD78,34319.07%2,17,83225.18%
TVS MOTOR COMPANY LTD57,65214.04%1,28,36514.84%
BAJAJ AUTO LTD45,55011.09%98,04111.33%
ROYAL-ENFIELD (UNIT OF EICHER LTD)14,9423.64%42,1204.87%
SUZUKI MOTORCYCLE INDIA PVT LTD9,4682.31%33,6993.90%
INDIA YAMAHA MOTOR PVT LTD9,1822.24%34,8174.02%
PIAGGIO VEHICLES PVT LTD6670.16%3,2620.38%
CLASSIC LEGENDS PVT LTD6430.16%2,0360.24%
BMW INDIA PVT LTD1440.04%2300.03%
INDIA KAWASAKI MOTORS PVT LTD550.01%970.01%
ADISHWAR AUTO RIDE INDIA PVT LTD410.01%1410.02%
TRIUMPH MOTORCYCLES (INDIA) PVT LTD230.01%370.00%
H-D MOTOR COMPANY INDIA PVT LTD40.00%190.00%
DUCATI INDIA PVT LTD10.00%140.00%
DUCATI MOTOR HOLDING S.P.A0.00%0.00%
Others including EV1,0740.26%4,8480.56%
Total4,10,757100.00%8,65,134100.00%

Source: FADA Research

 

Disclaimer:

    1. The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
    2. Vehicle Retail Data has been collated as on 08.06.21 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,294 out of 1,497 RTOs.

 

Three-Wheeler (3W)
Three-Wheeler OEMMAY’21Market Share (%), MAY’21APR’21Market Share (%), APR’21
BAJAJ AUTO LTD187235.90%7,74135.78%
PIAGGIO VEHICLES PVT LTD66412.73%3,38015.62%
MAHINDRA & MAHINDRA LIMITED3797.27%1,3566.27%
ATUL AUTO LTD2865.48%8333.85%
YC ELECTRIC VEHICLE1703.26%7583.50%
TVS MOTOR COMPANY LTD1302.49%4932.28%
MAHINDRA REVA ELECTRIC VEHICLES PVT LTD1222.34%4522.09%
Others including EV1,59230.53%6,62330.61%
Total5,215100.00%21,636100.00%

Source: FADA Research

 

Disclaimer:

  1. The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  2. Vehicle Retail Data has been collated as on 08.06.21 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,294 out of 1,497 RTOs.
Commercial Vehicle (CV)
Commercial Vehicle OEMMAY’21Market Share (%), MAY’21APR’21Market Share (%), APR’21
TATA MOTORS LTD735941.97%21,80142.38%
MAHINDRA & MAHINDRA LIMITED336619.20%9,77319.00%
ASHOK LEYLAND LTD278515.88%8,18515.91%
VE COMMERCIAL VEHICLES LTD9235.26%3,4096.63%
MARUTI SUZUKI INDIA LTD8484.84%2,4204.70%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE6393.64%5411.05%
DAIMLER INDIA COMMERCIAL VEHICLES PVT. LTD4452.54%1,2472.42%
SML ISUZU LTD1220.70%4850.94%
Others1,0475.97%3,5756.95%
Total17,534100.00%51,436100.00%

Source: FADA Research

 

Disclaimer:

  1. The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  2. Vehicle Retail Data has been collated as on 08.06.21 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,294 out of 1,497 RTOs.

 

 

Passenger Vehicle (PV)
Passenger Vehicle OEMMAY’21Market Share (%), MAY’21APR’21Market Share (%), APR’21
MARUTI SUZUKI INDIA LTD36,65942.76%96,74346.31%
HYUNDAI MOTOR INDIA LTD16,05118.72%33,59016.08%
TATA MOTORS LTD9,39210.95%19,1379.16%
MAHINDRA & MAHINDRA LIMITED5,5316.45%11,7885.64%
KIA MOTORS INDIA PVT LTD5,1596.02%11,5175.51%
TOYOTA KIRLOSKAR MOTOR PVT LTD2,7903.25%8,6904.16%
RENAULT INDIA PVT LTD2,4922.91%7,1243.41%
HONDA CARS INDIA LTD2,2402.61%5,3422.56%
FORD INDIA PVT LTD1,6711.95%4,2142.02%
MG MOTOR INDIA PVT LTD1,1481.34%2,8301.35%
NISSAN MOTOR INDIA PVT LTD1,0171.19%2,5031.20%
SKODA AUTO VOLKSWAGEN INDIA PVT LTD5440.63%2,2701.09%
FIAT INDIA AUTOMOBILES PVT LTD3200.37%7380.35%
MERCEDES-BENZ INDIA PVT LTD1980.23%5240.25%
BMW INDIA PVT LTD1520.18%5570.27%
JAGUAR LAND ROVER INDIA LIMITED390.05%1440.07%
VOLVO AUTO INDIA PVT LTD360.04%860.04%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE340.04%1670.08%
VOLKSWAGEN AG/INDIA PVT. LTD.250.03%410.02%
AUDI AG220.03%750.04%
PORSCHE AG GERMANY60.01%230.01%
MERCEDES -BENZ AG40.00%120.01%
SKODA AUTO INDIA/AS PVT LTD30.00%160.01%
AUTOMOBILI LAMBORGHINI S.P.A20.00%50.00%
FERRARI INDIA PRIVATE LIMITED20.00%0.00%
ROLLS ROYCE0.00%0.00%
BENTLEY MOTORS LTD0.00%0.00%
Others1960.23%7470.36%
Total85,733100.00%2,08,883100.00%

Source: FADA Research

 

Disclaimer:

  1. The above numbers do not have figures from AP, MP, LD & TS as they are not yet on Vahan 4.
  2. Vehicle Retail Data has been collated as on 08.06.21 in collaboration with Ministry of Road Transport & Highways, Government of India and has been gathered from 1,294 out of 1,497 RTOs.

 

Tractor (TRAC)
Tractor OEMMAY’21Market Share (%), MAY’21APR’21Market Share (%), APR’21
MAHINDRA & MAHINDRA LIMITED (TRACTOR)3,80322.9%8,06721.07%
MAHINDRA & MAHINDRA LIMITED (SWARAJ DIVISION)2,95217.8%6,22216.25%
INTERNATIONAL TRACTORS LIMITED2,21613.3%4,71812.32%
TAFE LIMITED1,90111.4%4,50611.77%
ESCORTS LIMITED (AGRI MACHINERY GROUP)1,73810.5%4,54211.86%
JOHN DEERE INDIA PVT LTD(TRACTOR DEVISION)1,3167.9%3,2238.42%
EICHER TRACTORS8705.2%2,2315.83%
CNH INDUSTRIAL (INDIA) PVT LTD5973.6%1,8234.76%
KUBOTA AGRICULTURAL MACHINERY INDIA PVT.LTD.1921.2%6191.62%
CAPTAIN TRACTORS PVT. LTD.1110.7%1610.42%
INDO FARM EQUIPMENT LIMITED890.5%1860.49%
V.S.T. TILLERS TRACTORS LIMITED810.5%2490.65%
FORCE MOTORS LIMITED, A FIRODIA ENTERPRISE450.3%2440.64%
Others7054.2%1,4943.90%
Total16,616100.0%38,285100.00%

Source: FADA Research

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