Auto Sales in February: Here’s how automakers performed

Authored by
Team Espresso
March 03 2023
3 min read

The wholesale dispatches of automobile companies in the month of February 2023 were a mixed bag, as the rise in domestic sales of passenger vehicles (PV), commercial vehicles and two-wheelers were offset by declining exports.

The PV segment reported strong wholesales in the previous month on the back of pent-up demand, an uptick in the urban markets and an improvement in the supply of semiconductors. Two-wheeler dispatches also improved driven by wedding season demand, easing chip shortages and last year’s low base. Meanwhile, strong domestic demand was seen for commercial vehicles and tractors.

Let’s see how the major automobile companies performed:

Maruti Suzuki

In the month of February 2023, the country’s largest carmaker Maruti Suzuki sold a total of 1,72,321 units, registering a growth of 5% from 1,64,056 units dispatched to its dealers in February 2022.

The company’s domestic sales increased 11% YoY to 1,55,114 units while total exports declined by 28% to 17,207 units from 24,021 units in February 2022.

Tata Motors

Tata Motors’ total sales in the domestic & international markets in the last month was 79,705 vehicles, a growth of 3% from 77,733 units, YoY. The auto major’s domestic sales increased 6% to 78,006 units as compared to 73,875 units, YoY.

Domestic sales of the company’s commercial vehicles dropped 3% to 36,565 units from 37,552 units, YoY. The company’s electric vehicles’ (EVs) sales in February 2023 jumped by a robust 81% YoY to 5,318 units from 2,934 units in February 2022.

Mahindra & Mahindra

Auto major Mahindra & Mahindra (M&M) reported auto sales at 58,801 vehicles, an increase of 8% from the corresponding period a year ago. The company’s PV sales in the domestic market were up 10% at 30,358 units.

Total tractor sales (Domestic + Exports) of the company were at 25,791 units, as against 20,437 units for the same period last year.

Also read about Atul Auto Ltd. up by 8.5%

Ashok Leyland

Commercial vehicle manufacturer Ashok Leyland witnessed a total sales of 18,571 units in February 2023, an increase of 27% from 14,657 units in February 2022.

The company’s M&HCV segment sales rose 35% YoY to 12,668 units from 9,363 units, while LCV sales increased 12% to 5,903 units from 5,294 units, YoY.

Hero MotoCorp

The total sales of Hero MotoCorp, the world’s largest manufacturer of motorcycles, increased 10.1% in the month of February 2023 to 394,460 units compared to 358,254 units in February last year. The company’s domestic sales rose by 15% to 382,317 units, while exports declined by 55% to 12,143 units.

Bajaj Auto

The total sales of Bajaj Auto declined by 11% to 2,80,226 units in February 2023, compared to 3,16,020 units in February 2022. The company’s weak sales were largely attributed to the fall in exports that plunged 38% to 1,26,935 units as against 2,03,273 units, YoY.

Two-wheeler sales declined by 16% to 2,35,356 units as compared to 2,79,337 units last year. However, three-wheeler sales went up by 22% to 44,870 units in February 2023.

TVS Motor Company

TVS Motor Company registered sales of 276,150 units, a fall of 2% from 281,714 units, YoY. The company’s exports declined significantly by 50% YoY to 53,405 units as against 107,574 units. Domestic sales increased 28% YoY to 2.21 lakh vehicles.

Eicher Motors

Eicher Motors saw a strong increase in its total Royal Enfield sales as the figures went up from 59,160 to 71,544 units. This is an increase of 21%. However, the exports rose by a mere 1%.


Disclaimer: Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Please refer the Risk Disclosure Document issued by SEBI and go through the Rights and Obligations and Do’s and Dont’s issued by Stock Exchanges and Depositories before trading on the Stock Exchanges. Brokerage will not exceed the Exchange prescribed limit.

Central banks, financial institutions and investors globally keep a close track of crude oil prices given its significance.


The CEA hoped that the country’s GDP growth for the current fiscal year will exceed the projected 7% amid the expected revision of high frequency data.