Auto stocks Maruti Suzuki, M&M, Tata Motors to be in focus on Monday; here’s why

Automobile stocks such as Maruti Suzuki, Mahindra & Mahindra, Tata Motors, and Bajaj Auto are expected to be in focus on Monday, March 3, as investors react to their February sales figures.

Auto stocks have faced significant pressure recently, with a sharp selloff across segments driven by heavy foreign capital outflows, a weakening currency, and signs of slowing economic growth.

The Nifty Auto index plunged nearly 11 per cent in February compared to an about 6 per cent decline in the equity benchmark Nifty 50.

Stocks such as Hero MotoCorp, Mahindra and Mahindra (M&M), Bajaj Auto, TVS Motor, Tata Motors and Eicher Motors have crashed 11-16 per cent in the last one month.

The Auto index has crashed 26 per cent from its high of 27,696, while the Nifty 50 has declined 16 per cent from its peak.

February auto sales numbers

Auto sales numbers are one of the significant triggers for the market. The sales volume of major automobile companies not only reflects their individual performance but also provides insights into the overall economy and consumer sentiment.

Maruti Suzuki India (MSI) said on Saturday that its total domestic passenger vehicle sales were at 1,60,791 units last month, compared with 1,60,271 units in the year-ago month, a marginal year-on-year growth.

Hyundai Motor India sold 47,727 units to dealers in India last month, marking a 5 per cent decline against 50,201 units in February 2024.

Tata Motors said its domestic passenger vehicle (PV) sales, including electric vehicles, were down 9 per cent at 46,435 units as compared with 51,267 units a year ago.

On the other hand, Mahindra & Mahindra (M&M) said its utility vehicles sales in the domestic market were at 50,420 vehicles, a growth of 19 per cent as compared with 42,401 units in February last year.

Ola Electric Technologies Ltd’s monthly registrations fell to a near three-year low in February. The company, however, insisted it remained the market leader ahead of Bajaj Auto Ltd and TVS Motor Co. Ltd.

(With inputs from PTI)

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