Read more about Tata Motors passenger vehicles segment ends fiscal 2021 on strong note on Business Standard. Company s SUVs and car sales see a record 422% YoY y jump in March
The surge in Covid-19 cases since mid-February 2021 may to hit the gems & jewellery sector and automotive dealerships, which have so far benefitted from the release of pent-up demand, according to rating agency Crisil. Somasekhar Vemuri, Senior Director, Crisil Ratings, the sharp rise in Covid-19 cases and the impact of any stringent containment measures on businesses are the key threats to the nascent demand recovery. They could impact the credit quality outlook adversely. Out of 42 sectors covered by study only six (accounting for four per cent of rated debt) are highly sensitive to a Covid-19 resurgence, while 20 are moderately sensitive. Airlines, airport operators, hospitality and retail, which have a long road to recovery, are sure part of the highly sensitive sectors. Other sensitive sectors are gems & jewellery and automotive dealers.
TVS Motor reported a 115 per cent growth in domestic two-wheeler sales which grew to 202,155 units in March 2021 from 94,103 units in March 2020. Motorcycle sales were up 136 per cent at 157,294 units in this March, from 66,673 units a year ago. Scooter sales of the Company grew by 206 per cent, at 104,513 units (34,191 units). Total two-wheeler sales were up 130 per cent at 307,437 units this March as against 133,988 units in March 2020. The company s exports rose 138 per cent as it sold 119,422 units abroad in March 2021 as against 50,197 units a year ago. Two-wheeler exports grew by 164 per cent at 105,282 units in March 2021 as against 39,885 units in March 2020. An increase in motorcycle sales in key international markets has significantly contributed to this achievement.
Read more about Ashok Leyland M&HCV truck sales grew over 10-fold in March on Business Standard. Analysts say increase in infrastructure spending, improved consumer sentiments, better freight rates are some of the key drivers of the superior show.
Midsize motorcycle maker Royal Enfield said that it aims to become a $5 billion global company and also plans a new launch every quarter, according to a report by brokerage Motilal Oswal. The report quoted the motorcycle maker s Managing Director Vinod K Dasari after an interaction with him. However, the report did not mention the time frame in which the company plans to achieve the financial target. The report said that the company s management has a clear focus on cruiser biking in both the domestic and export markets. It also has a strong pipeline for the next 5-7 years, with a new launch every quarter.