(Photo Credit : CNBC-TV18)
1 / 10Sales Weakness Persists: Retail vehicle sales are struggling this March compared to last year, according to CNBC-TV18’s latest poll. Passenger vehicles, including cars and SUVs, are expected to drop by 16%. Two-wheelers, such as motorcycles and scooters, may see a 13% decline. Medium and heavy commercial vehicles, which are large trucks for transporting goods, are likely to experience a 5% sales drop.
(Photo Credit : CNBC-TV18)
2 / 10Inventory and Discounts Rise: Dealers are likely facing a growing problem with unsold vehicles, known as channel inventory, according to the poll. In March, this inventory is expected to have increased even more, meaning there could be more vehicles sitting in showrooms and warehouses. To address this, dealers are likely offering bigger discounts than they did last month, aiming to entice buyers with lower prices.
(Photo Credit : CNBC-TV18)
3 / 10Festivals and Price Hikes May Help: Two factors could potentially give a temporary boost to vehicle sales in the coming days. First, the Navratri festival, which often encourages vehicle purchases, starts earlier this year on March 30 (compared to April 9 last year). Second, some companies have announced price hikes, which may prompt pre-buying as customers seek to avoid higher costs later.
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4 / 10Rural Strength Supports Tractors: While most vehicle segments are likely struggling, tractor sales are expected to be performing well, thanks to positive conditions in rural areas. Tractors are vital for farming, and with rural economies showing signs of improvement, more farmers are likely to purchase them. This could be a rare bright spot in the auto sector.
(Photo Credit : CNBC-TV18)
5 / 10Wholesale Projections Mixed: Wholesales, which measure how many vehicles manufacturers sell to dealers (not directly to customers), are expected to show mixed results for March. Passenger vehicles and two-wheelers are likely to remain flat, with little change from last year. Medium and heavy commercial vehicles may see a slight decline of 4%, while tractor wholesales are expected to surge by 18%, reflecting strong rural demand.
(Photo Credit : CNBC-TV18)
6 / 10M&HCVs Hold Up Better: Medium and heavy commercial vehicles (M&HCVs), such as large trucks and tippers (dump trucks), are likely performing better than other segments. Their sales are expected to be bolstered by increased spending on infrastructure and construction projects, which rely on these vehicles for transporting materials. Demand for tippers, in particular, may be helping to soften the overall decline in the commercial vehicle segment.
(Photo Credit : CNBC-TV18)
7 / 10Two-Wheeler Sales Estimates: For two-wheelers, sales are expected to vary by company, as per Nomura. Bajaj Auto is likely to see flat sales at 3.67 lakh units, nearly unchanged from last year’s 3.66 lakh units. Hero MotoCorp may also remain steady at 4.90 lakh units. However, TVS Motor is expected to grow by 11%, reaching 3.93 lakh units compared to 3.55 lakh units last year. Royal Enfield is likely to see a robust 20% increase, with sales rising to 90,775 units from 75,551 units.
(Photo Credit : CNBC-TV18)
8 / 10Passenger Vehicle Sales Estimates: In the passenger vehicle segment, Maruti Suzuki is expected to see a modest 3% increase in sales, reaching 1.92 lakh units compared to 1.87 lakh units last year. Hyundai’s sales are likely to rise slightly to 59,637 units from 58,727 units. Mahindra & Mahindra is expected to achieve a solid 16% growth, with sales climbing to 79,366 units from 68,413 units. However, Tata Motors may experience a 7% decline, with sales dropping to 85,966 units from 92,559 units.
(Photo Credit : CNBC-TV18)
9 / 10Commercial Vehicle Sales Estimates: For commercial vehicles, Ashok Leyland is expected to see a small decline in sales. The company’s sales are likely to fall by 2%, decreasing to 22,358 units from 22,866 units last year. This slight drop reflects broader challenges in the commercial vehicle segment, though M&HCVs are holding up better than other categories.
(Photo Credit : CNBC-TV18)
10 / 10Tractor Sales Estimates: In the tractor segment, Mahindra & Mahindra is expected to see strong growth. Sales are likely to increase by 15%, reaching 30,012 units compared to 26,024 units last year. This rise is tied to the positive outlook in rural areas, where demand for tractors remains robust.
