India's auto sector is expected to report higher wholesale volumes in August, with demand remaining strong. According to Nomura estimates, recent price hikes appear to have been absorbed without much impact on demand.
Overall passenger vehicle (PV) wholesale volumes are expected to rise 41% year-on-year (YoY) in August, while two-wheeler volumes are likely to grow 11%. Medium and heavy commercial vehicle (M&HCV) volumes are estimated to increase 25%, tractor sales 6%, and electric two-wheeler (e2W) sales 57%.
Electric vehicle penetration is now expected to be above 7% in passenger vehicles and 10% in two-wheelers.
Two-Wheeler Segment
Among two-wheeler makers, TVS Motor is expected to record the highest growth, with sales likely to rise 28% YoY to 53 lakh units from 10 lakh units. Bajaj Auto sales are expected to increase 17% to 88 lakh units from 18 lakh units, while Royal Enfield sales are likely to rise 10% to 25 lakh units from 14 lakh units. Hero MotoCorp sales are expected to grow 7% to 90 lakh units from 54 lakh units.
Passenger Vehicle Segment
Among passenger vehicle makers, Tata Motors is expected to post a 62% rise in sales to 70 lakh units from 43 lakh units. Mahindra & Mahindra (M&M) auto sales are likely to increase 40% to 07 lakh units from 76 lakh units, while Maruti Suzuki sales are expected to rise 36% to 45 lakh units from 81 lakh units. Hyundai sales are estimated to grow 16% to 70 lakh units from 61 lakh units.
Commercial Vehicles and Tractors
Ashok Leyland sales are expected to rise 31% to 20,000 units from 15,200 units, while Tata Motors' commercial vehicle sales are likely to increase 30% to 38,800 units from 29,900 units. M&M's tractor sales are expected to grow 6% to 29,800 units from 28,100 units.
These projections indicate a strong demand across segments, with electric vehicles marking a notable advance in penetration. The numbers are based on Nomura's estimates and are subject to actual sales data release by manufacturers.