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Automobile Sector: Monthly Round Up; Domestic Volumes decreased 18.7% YoY and 21.9% MoM in Dec’16 Revealing Impact of Demonetisation

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Analyst: Mitul Shah, +91-22-6176 0833,mitul.shah@karvy.com

 

·       Domestic Auto volumes declined by 18.7% YoY and 21.9% MoM to 1,221,929 units in Dec’16, primarily on account of government’s demonetisation initiative, which impacted retails sales during the month. The reported numbers by auto makers are wholesale volume data based on the dispatches to dealers. These volume shows lower decline due to inventory fill up, therefore it doesn’t show the real gloomy picture at retail level. Channel check indicates retail sales down by 30-35% for various segments.

·       PV segment declined by 1.4% YoY and 5.5% MoM to 227,824 units, as PC segment down 8.1% YoY and 8.6% MoM on the pre-bookings of new models i.e. MSIL’s new Baleno. Moreover, success of new models resulted in UV sales increasing by 29.9% YoY and 8.4% MoM. New launches like Brezza, S-cross etc helped the segmentWhile, MPVs down 18.8% YoY and 19.7% MoM in Dec’16.

·       LCVs grew by 1.2% YoY and 10.3% MoM to 31,178 units. M&HCVs again remained negative with decline of 12.4% YoY (up 30.2% MoM), as truck segment declined by 16.7% YoY and Bus segment rose 21.2% YoY. Overall domestic CV volumes fell 5.1% YoY (up 17.9% MoM) in Dec’16.

·       Domestic three wheelers declined by 36.2% YoY and 11.2% MoM to 29,904 units in the month. Three wheeler PC (Auto Rickshaw) volume was down 43.4% YoY and 13.4% MoM, while goods carrier three wheeler declined by 3.8% YoY in the month.

·       Domestic two-wheeler segment declined by 22% YoY and 26.8% MoM to 0.910 mn units, as Scooter segment down 26.4% YoY and motorcycle declined by 22.5% YoY in the month. Moped sale was up 13.5% YoY to 64,161 units in the month, due to low base of last year (impacted by Chennai flooding last year).

·       Overall exports declined by 3.1% YoY (up 5.5% MoM) to 301,295 units in the month, due to slowdown in middle-east countries.

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About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.

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